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WHAT ARE THE MOST POPULAR PLATFORMS?


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WHAT ARE THE MOST POPULAR PLATFORMS?

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  #1 (permalink)
 OpalDragon 
Des Moines, Iowa
 
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Has anyone done a test on what are the most popular trading AND CHARTING platforms used now?

Because I think TradingView is definitely moving up the ranks. I love how fast it is.

I don't use it to trade -- but I am totally using it for looking at big picture charts without destroying my machine.

I use NinjaTrader 8 right now. With all custom software.


Also I know that most popular platform -=- does not mean most contracts traded. Most contracts traded is most probably XTRader from Trading Technologies probably.


So it would be cool to see the most popular ones. I would say they are:

TT XTrader

Sierra Charts

Think or Swim

Market Delta

Ninja Trader 7 & 8

Trading View

TradeStation


TradeStation and Sierra Charts are the "old-school" ones. And they are so good already that if it is working for you then there is really no need to 'upgrade'.

They remind me of an F-15 Fighter jet. Old-school but still super super powerful and no need to upgrade really.

The newer kids in the block: Market Delta and TradingView(charting) are awesome as well.

I don't have experience with MarketDelta -- only have seen their videos. I mentioned them because their MarketProfile stuff looks really good and are cloud based as well.

But I don't know -- I was wondering what your thoughts are...

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  #3 (permalink)
 kevinkdog   is a Vendor
 
 
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Here is a survey of 100 traders...


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  #4 (permalink)
intothefuture
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I can confirm, Tradingview is hands down the best. I've tried many of those products and they are so legacy compared to TV. The only thing it is missing is an autotrading capability.

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  #5 (permalink)
 matthew28 
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OpalDragon View Post
Also I know that most popular platform -=- does not mean most contracts traded. Most contracts traded is most probably XTRader from Trading Technologies probably.

Surprised you suggest XTrader would be the most popular but I think it would depends on who you were asking. If you surveyed professional traders or prop shops trading futures then yes. If you surveyed retail traders then I would expect it to look like the list Kevin gives above. Tradestation and Ninjatrader as the favourites. He doesn't say but I am assuming that survey was asking users of a retail trading forum, such as this one. I am surprised Sierra Charts isn't on there though. From this site I get the impression the general consensus is that the program has a steep learning curve but will do anything you want from it, but the customer service leaves something to be desired.


OpalDragon View Post
The newer kids in the block: Market Delta and TradingView(charting) are awesome as well.
I don't have experience with MarketDelta -- only have seen their videos. I mentioned them because their MarketProfile stuff looks really good and are cloud based as well.

Market Delta closed down over a year ago.

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  #6 (permalink)
 Rrrracer 
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matthew28 View Post
I am surprised Sierra Charts isn't on there though. From this site I get the impression the general consensus is that the program has a steep learning curve but will do anything you want from it, but the customer service leaves something to be desired

Maybe they are under "Not listed"

Yes, their customer service is a double edged sword. There is not a lot of hand holding and they can be crass if you haven't done your homework... but if one has a legitimate issue with the software the problem gets resolved, quickly. I've reported a few bugs and they had another version ready literally within 1-2 days. Hard to beat that kind of response time. And yes, it can be a PITA to learn and use, but after experiencing the speed/reliability/flexibility of the platform, I likely wouldn't consider anything else.

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  #7 (permalink)
 bobwest 
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matthew28 View Post
I am surprised Sierra Charts isn't on there though. From this site I get the impression the general consensus is that the program has a steep learning curve but will do anything you want from it, but the customer service leaves something to be desired.


Rrrracer View Post
Maybe they are under "Not listed"

Yes, their customer service is a double edged sword. There is not a lot of hand holding and they can be crass if you haven't done your homework... but if one has a legitimate issue with the software the problem gets resolved, quickly. I've reported a few bugs and they had another version ready literally within 1-2 days. Hard to beat that kind of response time. And yes, it can be a PITA to learn and use, but after experiencing the speed/reliability/flexibility of the platform, I likely wouldn't consider anything else.

I totally agree on all these points by @Rrrracer regarding Sierra Chart.

Their support can be very cranky about user questions, if they judge the question to be a dumb one. And sure, you would think that a commercial application that needs users would be more tolerant about their users' questions, but maybe they don't need the money.

But if the question is legitimate, so is the response, and as @Rrrracer said, they are extremely fast at fixing a bug. Also, I have never had a business-type issue (fees, payments, etc.) that they didn't handle well and quickly.

I think they probably didn't make the quoted survey numbers because they weren't on the preset list, so their numbers would be in the "not listed" group, which is the second-highest.

For myself, I have used a few of these platforms, and I used Ninja for a long time (6.5, 7 and 8) and I liked it and still do, but when I tried Sierra Chart I found out what speed and flexibility were really like. It's a pain in the ass to learn, but I wouldn't go back for anything.

Plus, I do enjoy the snarky support sometimes, which shows up in their FAQ's and user "support" board. They've never given me any snark, so I guess we're usually on the same side.

Bob.

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  #8 (permalink)
 ocpb 
Hartford CT, USA
 
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Rrrracer View Post
Maybe they are under "Not listed"

I would wonder who were these 100 traders. If they were surveyed after having expressing interest in automated trading, I could understand Sierra not being high on the list.

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  #9 (permalink)
 Rrrracer 
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bobwest View Post
Plus, I do enjoy the snarky support sometimes, which shows up in their FAQ's and user "support" board. They've never given me any snark, so I guess we're usually on the same side.

LOL they've given me some snark, but I deserved it

I actually sometimes find it hilarious to page through stuff and find people getting beat up, and sometimes want to post a stupid question just to see what response I get LOL... what does that make me?!

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  #10 (permalink)
 bobwest 
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ocpb View Post
I would wonder who were these 100 traders. If they were surveyed after having expressing interest in automated trading, I could understand Sierra not being high on the list.

I agree it would be interesting to know who these traders were, and what they were basing their evaluations on. Different needs in a platform would make for very different assessments. These platforms are all heavy in the retail trade, at least the ones near the top that I know anything about. Further down, I couldn't say.

I'm no expert on automated trading with any platform (I do my own indicator coding and have on several, but that's a different kind of thing), but from what I have seen, Sierra Chart is at least equal in this to Trade Station and Ninja, and from what I know, better than ThinkOrSwim. (I have used all four, but at different times and so I may not be up to date now about current capabilities.) I've not encountered any criticism of SC in this respect, anyway. I could be wrong, but it would be new to me if automation were not something where it's at least competitive with the others.

In any case, Sierra is not just "not high" on the list, it's not on the list, so it can't be chosen, even if last. In any case, automation is not mentioned as a selection criterion. If it's lumped into "Not listed," (the number 2 choice) it could have done pretty well. We just can't be sure.

But there's always a reason for preferring or not preferring anything, of course, and different people make different choices. The fact I like it doesn't mean SC is right for everybody. In fact, the steepness of the learning curve is a good reason for staying away, actually.

I think Sierra Chart users like to talk about the learning curve and the "support" and "help" pages. It makes us look tough.

Bob.

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  #11 (permalink)
 Salao 
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"Not Listed" is mostly Sierra people, right? I need to get a Sierra license just for the entertainment of the support board! Maybe I'll be able to cancel cable...

(Sorry for the de-rail...couldn't resist. )

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  #12 (permalink)
 ocpb 
Hartford CT, USA
 
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bobwest View Post
These platforms are all heavy in the retail trade, at least the ones near the top that I know anything about. Further down, I couldn't say.

I'm no expert on automated trading with any platform (I do my own indicator coding and have on several, but that's a different kind of thing), but from what I have seen, Sierra Chart is at least equal in this to Trade Station and Ninja, and from what I know, better than ThinkOrSwim. (I have used all four, but at different times and so I may not be up to date now about current capabilities.) I've not encountered any criticism of SC in this respect, anyway. I could be wrong, but it would be new to me if automation were not something where it's at least competitive with the others.

I believe choices such as R/Python/Matlab, Quantopian are strictly automated, Amibroker seems to have a reputation more for backtesting performance. Certainly "Excel Spreadsheet" is primarily for working out mechanical strategies. And naturally Tradestation is number one, seems to me to have the most longstanding support and community for retail automated trading. Ninja has so much market share that they would probably show up in any list. These are why I am simply wondering about the background of the survey. Often with polls, *who* is surveyed is just as important as the result. The list was posted by Kevin - automated strategy educator.

With respect to automated trading, I agree with you that Sierra Chart is just as competitive in my opinion, feature and flexibility-wise, as any other choice on the market. But in my opinion it's lacking accessibilty to regular investors for strategizing their trades, and it's not only because of very not-user-friendly customer support. The "learning curve" reputation of the platform is well documented (not deserved IMO), and that is even before you get to it's automation capabilities which require C++ or understanding it's own unique spreadsheet system for trading. These would place it not high on the list. And by the list, I meant in general on a list in the minds of regular investor / traders who might be interested in taking an automated strategy class.

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  #13 (permalink)
 OpalDragon 
Des Moines, Iowa
 
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Awesome Responses Gentlemen! Thanks a million....

I love the thorough and mature responses.... I have asked this question in other forums and actually get a "aggressive" responses from some dudes that have some kind for ignorant freak out --- like if I insulted their kid by asking which platform is best... and why... etc....

Almost like saying Chevy Sucks -- to a '67 Camaro owner that drives the Camaro every day and works at the Chevy plant... you know.

That is the kind of responses I have gotten. Unbelievably retarded. So I was beautifully surprised by all the great and mature responses.

-----------
So My thoughts on this:
I do think Sierra Charts and MatLab are basically the absolute best.....
Then Xtrader for ultra reliable DOM and AutoSpreader
And then finally >>> TRADING VIEW is definitely awesome and powerful to have that reliability and redundancy in a fully backed up platform online and not dependent on local hardware.

But I have a ton of epic programs for Ninja 8 that I would need to get them all converted. And that would suck..... Because I have excellent programs from 4 different people and then a few more CUSTOM PROGRAMS I have made. :O

Right now Ninja 8 is working good -- BUT IDEALLY -- I would love Sierra Charts or TradingView. 100% ideal.
I think Trading View will continue to get better and better also...
1)it is growing like crazy and
2)those monthly fees give it constant income to improve
3) since it is cloud based they only have one platform and one running environment to really worry about = html5. They don't have to worry about MAC or Windows or Linux :O Very very cool....

My only worry about TradingView is if we can make our indicators fully private/protected. If you make an indicator in PineScript is it open to everyone or can it be protected in someway? I have to ask about that.

Epic platforms like XTRADER / AUTOSPREADER are for people trading 100's of lots at a time....
You can also trade 100's of lots in the other platforms though no problem.
Xtrader's monopoly on the ultra-high lot traders has diminished significantly with the great new platforms.

They are still epic in their Algo Creation and Execution Features AND the AutoSpreader [ which is an algo unto itself basically ]

But for everyone else especially starting out -- there is no need for that. Doesn't give you any edge whatsoever unless you are using its AlgoCreation Lab or its AutoSpreader.

At least that is how I see it. I could be wrong.

Also I don't see MatLab as a trading platform -- more of an ultra advanced research platform/tool. You can take the excellent levels you find in MatLab and export them to whatever other platform you want.

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 AllSeeker 
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Don't be surprised if Tradingview takes over most of these guys in couple of years, they have some advantages;

1. They are cloud based
2. Most brokers (even the discount ones) are offering Tradingview charting platform. Note that these guys don't offer pine terminal for it, so you can't program on broker provided terminal.
3. Their free version is available for coding, and its backed by very involved and innovative coding community.
4. Pine is very easy to learn and manipulate, it is very verbose. And if you had any kind of previous programing experience, you can probably do it in couple of days.
5. Its easiest and free way to back test strategies and papertrade
6. There are lot of ways to get upgraded plans for cheap, one of them being active programmer or coming to referral, so its not that costly if you really need it.
7. Its visually probably most appealing platform in market atm.

TV is replacing Amibroker and Ninja in my local market.

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  #15 (permalink)
 kevinkdog   is a Vendor
 
 
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I have no idea who the 100 people are, what their trading style was, where they are located, etc.

All I can say is they visited my blog, and decided to take the survey.

Since I do automated algos, you can assume the respondents had at least some interest in that, but many might also have been discretionary traders when they took the survey.

Sorry I can't help beyond that.

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 jokertrader 
NYC, NY
 
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I will tell you in times of craziness Sierra with CQG feed (which I use every day) has lagged while CQGs own platforms with direct feed have been been rock solid...though u pay for many a feature including automation and backtesting


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  #17 (permalink)
 Rrrracer 
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jokertrader View Post
I will tell you in times of craziness Sierra with CQG feed (which I use every day) has lagged while CQGs own platforms with direct feed have been been rock solid...

Interesting, I have the same combo and have never noticed an issue.

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