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Reliable Discretionary Futures Trading Platform with ATM
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Reliable Discretionary Futures Trading Platform with ATM

  #1 (permalink)
Elite Member
New York, NY
 
Futures Experience: Intermediate
Platform: Sierra Chart, thinkorswim
Broker/Data: Amp-Rithmic/TT, IB
Favorite Futures: CL, GC, NQ
 
Posts: 569 since Nov 2010
Thanks: 1,797 given, 249 received

Reliable Discretionary Futures Trading Platform with ATM

I currently use thinkorswim for charting, and for my purposes, its quick, intuitive, easy to use, and recently has been reliable and lag free (not sure about in a "market event" lately, in the past it has frozen), and I have been using it for quite some time so am comfortable with it. May look for an alternative in the future if I see the need, maybe for chart based/integrated trading for simplicity, but satisfied for now.

For execution, I am using TransAct, which is mostly fine, but lacks some features I would possibly like, mostly in profit taking strategies like NT's ATM, ie auto adjusting stop to BE when trading a single contract, changing trail stop/ATM strategy after trade is initiated, more complex ATM strategies, having multiple ATM strategies saved and ready to quickly/easily select, etc. Also built in account performance sounds nice.

I have used Ninjatrader 6.5, and liked the features it had in this regard, but want something reliable, that does not freeze, crash, disconnect, require deleting databases, maintenance, bug fixes, upgrades, etc. I just want to trade and not worry about fixing my software. TransAct is great in this regard, it's just a simple execution platform, and doesn't seem to break, which is really what I need, plus better ATM.

I have messed around with Multicharts and MCDT minimally, but did not find them quick/intuitive to use. I have not tried NT7, as when I looked into it, seemed like there were still the same type of issues as NT 6.5, constant fixes, etc. I would still be open to these if the NT issues have been fixed or MC is more user friendly.

In summary, I am trading CL, and looking for advice/suggestions on broker/execution platform, that have good commissions, speed, quick/intuitive interface, and reliability for discretionary trading with advanced ATM. Appreciate any thoughts from traders on your experiences.


Last edited by Futures Operator; August 8th, 2012 at 05:17 PM. Reason: clarity
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  #2 (permalink)
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  #3 (permalink)
Elite Member
Berlin, Europe
 
Futures Experience: Advanced
Platform: NinjaTrader, MultiCharts
Broker/Data: Interactive Brokers
Favorite Futures: Keyboard
 
Fat Tails's Avatar
 
Posts: 9,651 since Mar 2010
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First define your needs:

-> single broker or multibroker software
-> which data feed do you want to use
-> order execution: DOM, automated trade management, chart trader
-> charting features
-> do you want to trade spreads

You may then evaluate (alphabetical order)

-> CQG
-> Cunningham (CTS) T4
-> J-Trader
-> MultiCharts
-> NinjaTrader
-> SierraChart
-> ThinkOrSwim (single broker only)
-> TradeStation (single broker only)
-> TT X-Trader / X-Trader Pro

X-Trader is probably the best solution, followed by CQG and CTS T4. Those are also the more expensive ones.

The other ones are retail platforms, which come at a lower cost. I would go for one of the multi-broker packages, either MultiCharts, NinjaTrader or SierraChart.

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  #4 (permalink)
Elite Member
Luxembourg
 
Futures Experience: Advanced
Platform: NinjaTrader
Broker/Data: IB / Kinetick
Favorite Futures: ZN
 
Fadi's Avatar
 
Posts: 482 since Apr 2012
Thanks: 650 given, 625 received

I use NinjaTrader7 everyday, it has yet to freeze or crash on me.
Honestly, I am a very satisfied user. I have the software linked to "Interactive Brokers" and "Kinetick" and it is running on a windows XP SP3 machine...

Successful people will do what unsuccessful people won't or can't do!
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  #5 (permalink)
Elite Member
Lagos, Nigeria
 
Futures Experience: Intermediate
Platform: NinjaTrader, SierraChart
Favorite Futures: Euro Currency & Oil
 
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Posts: 2,440 since Jun 2009
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Fat Tails View Post
First define your needs:

-> single broker or multibroker software
-> which data feed do you want to use
-> order execution: DOM, automated trade management, chart trader
-> charting features
-> do you want to trade spreads

You may then evaluate (alphabetical order)

-> CQG
-> Cunningham (CTS) T4
-> J-Trader
-> MultiCharts
-> NinjaTrader
-> SierraChart
-> ThinkOrSwim (single broker only)
-> TradeStation (single broker only)
-> TT X-Trader / X-Trader Pro

X-Trader is probably the best solution, followed by CQG and CTS T4. Those are also the more expensive ones.

The other ones are retail platforms, which come at a lower cost. I would go for one of the multi-broker packages, either MultiCharts, NinjaTrader or SierraChart.

What's your view on CQG/MarketDelta Trader, just for Order routing/placement ?

Lolu

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  #6 (permalink)
Elite Member
Berlin, Europe
 
Futures Experience: Advanced
Platform: NinjaTrader, MultiCharts
Broker/Data: Interactive Brokers
Favorite Futures: Keyboard
 
Fat Tails's Avatar
 
Posts: 9,651 since Mar 2010
Thanks: 4,226 given, 25,597 received
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lolu View Post
What's your view on CQG/MarketDelta Trader, just for Order routing/placement ?

Lolu

I have never used CQG, you need to ask somebody else.

My intention was just to produce a list of the available options. Let the users of CQG answer.

I have only used NinjaTrader and MultiCharts. For discretionary trading I prefer NinjaTrader.

MultiCharts has recently added the DOM feature, so I am now considering it as a viable alternative.

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  #7 (permalink)
Elite Member
Bay Area California
 
Futures Experience: None
Platform: TT T4
Favorite Futures: Futures
 
Posts: 719 since Nov 2011
Thanks: 633 given, 740 received

CTS T4 is reliable but lacks any reasonable form of order management. But you can use your CTS data feed through sierrachart.

"If I agreed with you, we'd both be wrong."
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  #8 (permalink)
Elite Member
New York, NY
 
Futures Experience: Intermediate
Platform: Sierra Chart, thinkorswim
Broker/Data: Amp-Rithmic/TT, IB
Favorite Futures: CL, GC, NQ
 
Posts: 569 since Nov 2010
Thanks: 1,797 given, 249 received


Fat Tails View Post
First define your needs:

-> single broker or multibroker software
-> which data feed do you want to use
-> order execution: DOM, automated trade management, chart trader
-> charting features
-> do you want to trade spreads

You may then evaluate (alphabetical order)

-> CQG
-> Cunningham (CTS) T4
-> J-Trader
-> MultiCharts
-> NinjaTrader
-> SierraChart
-> ThinkOrSwim (single broker only)
-> TradeStation (single broker only)
-> TT X-Trader / X-Trader Pro

X-Trader is probably the best solution, followed by CQG and CTS T4. Those are also the more expensive ones.

The other ones are retail platforms, which come at a lower cost. I would go for one of the multi-broker packages, either MultiCharts, NinjaTrader or SierraChart.

To be more clear/expand on my post, I need single broker license. I assume the advantage of multibroker would be to trade multiple accounts at different brokers through one platform, I don't have such a need at this point, though in the future I may add forex for longer term trades. I also don't need to trade spreads, just outright futures contracts for intraday trading (currently only CL), and don't need another charting solution/chart trading at this point, as I'm not having any issues with thinkorswim.

I am looking for recommendations on an execution feed/broker/platform that is fast, reliable, intuitive/quick/easy to use, for execution of discretionary trading through a DOM, with flexible ATM features.

Thanks for your post and suggestions. Could you please explain the reasons behind your recommendations, why is X Trader the best, followed by CQG, and CTS T4?

Why do you recommend a multi broker package of either MC, NT, or SC? Why do you prefer NT for discretionary, and do you have any of the issues mentioned in my original post with it?

Do all of these options offer ATM similar to NT, and are also reliable? How would you differentiate them/suggest to choose between them?


Last edited by Futures Operator; August 8th, 2012 at 04:43 PM.
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  #9 (permalink)
Elite Member
Berlin, Europe
 
Futures Experience: Advanced
Platform: NinjaTrader, MultiCharts
Broker/Data: Interactive Brokers
Favorite Futures: Keyboard
 
Fat Tails's Avatar
 
Posts: 9,651 since Mar 2010
Thanks: 4,226 given, 25,597 received
Forum Reputation: Legendary


Futures Operator View Post
To be more clear/expand on my post, I need single broker license. I assume the advantage of multibroker would be to trade multiple accounts at different brokers through one platform, I don't have such a need at this point, though in the future I may add forex for longer term trades. I also don't need to trade spreads, just outright futures contracts for intraday trading (currently only CL), and don't need another charting solution/chart trading at this point, as I'm not having any issues with thinkorswim.

I am looking for recommendations on an execution feed/broker/platform that is fast, reliable, intuitive/quick/easy to use, for execution of discretionary trading through a DOM, with flexible ATM features.

Thanks for your post and suggestions. Could you please explain the reasons behind your recommendations, why is X Trader the best, followed by CQG, and CTS T4?

Why do you recommend a multi broker package of either MC, NT, or SC?

Do all of these options offer ATM similar to NT, and are also reliable? How would you differentiate them/suggest to choose between them?

I have not personally tested all these platforms. But I know which platforms are around that offer decent charting and execution capabilities. I assumed that you would not consider any platform that does not come with a DOM/chart trader. For example I did not list Ensign Windows or Investor RT for that reason. I did not list MetaTrader, because it is more geared towards FOREX and not towards futures. Your question was about futures.

X-Trader has generally been considered as the industry standard. Both CQG and X-Trader are more expensive than the average retail trader is willing to pay.

But please, let the current users of those platforms speak up!

I prefer the use of a broker independant software, because the real challenge is not to select a software platform, but to learn how to use it correctly. It has certainly taken me more than a year to understand many of the features that are offered by NinjaTrader. And it will take me another year to learn how to use MultiCharts.

In terms of investement, the highest cost is the time you spend to understand the platform, not the few $$$ you pay for acquiring it. I do not want to make that investment and lose the freedom of selecting a different broker. I have developed custom indicators, which I need for my trading. Recoding all that stuff for a different platform is a nightmare.

I am very lucky that I had selected NinjaTrader as a platform. With the new .NET version for MultiCharts, I can easily port my indicators to that platform and I can also reuse the indicators with CQG. This allows me to remain independent and change brokers whenever I wish to do so. I am not locked up!


Last edited by Fat Tails; August 8th, 2012 at 04:56 PM.
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  #10 (permalink)
Elite Member
New York, NY
 
Futures Experience: Intermediate
Platform: Sierra Chart, thinkorswim
Broker/Data: Amp-Rithmic/TT, IB
Favorite Futures: CL, GC, NQ
 
Posts: 569 since Nov 2010
Thanks: 1,797 given, 249 received



Fadi View Post
I use NinjaTrader7 everyday, it has yet to freeze or crash on me.
Honestly, I am a very satisfied user. I have the software linked to "Interactive Brokers" and "Kinetick" and it is running on a windows XP SP3 machine...

How is the execution, fills, and speed through IB? In the past I have heard they are not the best for speed in futures data/execution?

So you have no issues whatsoever in terms of reliability, lag, performance, maintenance, fixes, etc using NT7?

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