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Best Platform for Chart Trading
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Best Platform for Chart Trading

  #1 (permalink)
Trading Apprentice
New York,NY
 
Trading Experience: Intermediate
Favorite Futures: YM, NQ, GC
 
Posts: 1 since Jan 2019
Thanks: 0 given, 1 received

Best Platform for Chart Trading

What is the best Platform for Chart Trading?

I am considering MultiCharts, NT, SierraChart, X Trader, R Trader, and Volfix. Will be using Rithmic or TT data.

Specifically for Chart Trading, which one of the above platforms or others is better, faster, more stable?

This is for primarily trading YM, NQ, and GC.

I have previously used TradeStation (about 15 years ago) for stocks and liked it, but their commissions are too high for futures. Also used NT 6.5 (free version) and liked it.

I need to choose a platform that is

1) Stable, Fast, and Precise - No Lag in candlesticks forming on the chart or other such problems.

2) Has the most Robust Functionality for trading from the chart. Would like to have 1 click trading, so that
I can left click and for a limit long to be entered at the offer, and stop loss to be entered 1 tick below the
previous bar open (provided it was a green bar). Right click and for a limit short to be entered at the bid with a stop loss
1 tick above the previous bar open (provided it was a red bar). Profit targets will also be entered and appear on the
chart at time of the click (they will equal to a percentage of the previous candle size. Does any platform offer this?

3) Low Latency.

Thanks

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  #2 (permalink)
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  #3 (permalink)
 Vendor: www.ninjatrader.com 
Denver, CO
 
Trading Experience: Advanced
Platform: NinjaTrader
Broker/Data: NinjaTrader Brokerage
Favorite Futures: ES
 
NinjaTrader's Avatar
 
Posts: 1,416 since May 2010
Thanks: 166 given, 2,114 received



Chart Trader View Post
What is the best Platform for Chart Trading?

I am considering MultiCharts, NT, SierraChart, X Trader, R Trader, and Volfix. Will be using Rithmic or TT data.

Specifically for Chart Trading, which one of the above platforms or others is better, faster, more stable?

This is for primarily trading YM, NQ, and GC.

I have previously used TradeStation (about 15 years ago) for stocks and liked it, but their commissions are too high for futures. Also used NT 6.5 (free version) and liked it.

I need to choose a platform that is

1) Stable, Fast, and Precise - No Lag in candlesticks forming on the chart or other such problems.

2) Has the most Robust Functionality for trading from the chart. Would like to have 1 click trading, so that
I can left click and for a limit long to be entered at the offer, and stop loss to be entered 1 tick below the
previous bar open (provided it was a green bar). Right click and for a limit short to be entered at the bid with a stop loss
1 tick above the previous bar open (provided it was a red bar). Profit targets will also be entered and appear on the
chart at time of the click (they will equal to a percentage of the previous candle size. Does any platform offer this?

3) Low Latency.

Thanks

NinjaTrader will support Rithmic and CQG/Continuum. We no longer support Trading Technologies. If you have not done so already, you can request a data trial here and test out Chart Trader in a simulation account.

https://ninjatrader.com/GetStarted

Disclosure: This communication is sent to you by NinjaTrader, LLC, a software development company which owns and supports all proprietary technology relating to and including the NinjaTrader trading platform.
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  #4 (permalink)
Trading Apprentice
DL/china
 
Trading Experience: Intermediate
Platform: TWS mc
Broker/Data: IB
Favorite Futures: emini es
 
Posts: 1 since Jun 2018
Thanks: 1 given, 0 received

I also want to know.


customize semiautomatic trading.

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  #5 (permalink)
Elite Member
Boston MA USA
 
Trading Experience: Beginner
Platform: None
Favorite Futures: ES, Stocks, ETFs
 
Posts: 48 since Jan 2015
Thanks: 33 given, 43 received

Here's a few of my thoughts about chart trading within Multicharts and Sierra Chart.

Multicharts has a pallette of icons with which a user can drag-an-drop either a) an order-type or b) an "exit strategy".

Multicharts and Sierra Chart both offer a mouse right-click-based method to place orders on the charts.

There's a subtle difference in the right-click features between MC and SC.

MC has a chart right-click menu with many items in it. The first item in this menu is "Place Order." One must right-click and then select this Place Order menu item, which displays a submenu containing postential orders to submit at the exact price on the chart that was originally right-clicked.

SC also has a chart right-click menu, but the menu items for placing various order types are directly in this menu -- there is no additional submenu.

In this regard, MC is a pain to use IMO. Having to access a menu and then a submenu is tricky in windows. The submenus will easily disappear unless you are very accurate with your mouse. Meanwhile, the prices are changing on you. I use MC right now, but for chart trading I would prefer the more direct access of Sierra Chart.

The drag-and-drop chart order placement in MC is a nice feature, however there are some problems with it. If you are sending a limit order by dragging an icon onto the chart -- puts in a buy limit or a sell limit based on the current last traded price at the moment you complete the drag and drop. You don't know which one you did until it has been sent and confirmed by the broker. Sometimes mice or trackpads will inadvertently let up on you while dragging and dropping. You've got to be prepared to cancel an misplaced order quickly.

Sierra also has the Chart DOM which ought to be excellent for chart trading -- but haven't used it so I can't say much about it. I believe it is aligned to the price axis of the chart.

Multicharts has a Chart trading DOM which just pops in "docked" inside a chart. It is not aligned to the chart and so it is convenient but is not useful for entering trades based on the time and price scale of your chart.

There must be other platforms that offer better interfaces for chart trading.

If I am missing anything that would make chart trading easier in Multicharts, please let me know!

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  #6 (permalink)
You did what?!
Indianoplace, IN
 
Trading Experience: Intermediate
Platform: SierraChart
Broker/Data: CQG
Favorite Futures: 6E, NQ
 
Rrrracer's Avatar
 
Posts: 1,692 since Feb 2017
Thanks: 9,857 given, 5,896 received
Forum Reputation: Legendary

@Chart Trader, I can't speak for the other platforms but Sierrachart easily fulfills all of your criteria. I believe they offer a free trial.

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