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Best Application for Backtesting?
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Best Application for Backtesting?

  #1 (permalink)
waverider
Sydney
 
Futures Experience: Advanced
Platform: NinjaTrader; TWS
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Posts: 45 since Dec 2009
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Best Application for Backtesting?

Watched Big Mike's video online comparing Ninja and Multicharts for backtesting - awesome stuff, thanks Mike. Just starting to get into backtesting now and want to start in the right place. What is the best(?) platform for backtesting the ES for someone with limited, but definitely no C+ programming skills... Something serious, I'm dedicated .. Is Multicharts the way to go?
Thanks so much!

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  #2 (permalink)
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  #3 (permalink)
Administrator: Retired Backtester
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MC coding is maybe better for you, the coding language is easier to understand than C#/NT for "normal" users.

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  #4 (permalink)
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Personally, I find MultiCharts to be way, way above and beyond NinjaTrader for backtesting. I also find EasyLanguage to be more efficient. I am a HTML, Java, Perl, PHP, C# programmer, and I don't feel "restricted" by EasyLanguage at all. In fact, I enjoy it, because it forces me to write code that is useful for trading and not simply an ego boost to my programming capabilities

So, my recommendation is definitely MultiCharts. But I make that recommendation not just because of backtesting, but because MultiCharts is a solid trading platform, where other platforms are not and they force you to spend valuable time troubleshooting, reinstalling, fixing/repairing, or pulling your hair out instead of trading.

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  #5 (permalink)
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Mike...

Futures Edge on FIO

Which products do you trade?

 
Mike, will MultiCharts allow me to Backtest two different Tick Charts (of the same symbol)?

(I want to Enter off a 480-Tick chart and Exit off a 240-Tick chart.)

From what I've Googled so far, the implication is that I can. However, I want to be able to do it only in a program like EasyLanguage. I have no knowledge of C+, etc.

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  #6 (permalink)
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bobbakerr View Post
Mike, will MultiCharts allow me to Backtest two different Tick Charts (of the same symbol)?

(I want to Enter off a 480-Tick chart and Exit off a 240-Tick chart.)

From what I've Googled so far, the implication is that I can. However, I want to be able to do it only in a program like EasyLanguage. I have no knowledge of C+, etc.

You can have two dataseries, dataseries #1 is 480 tick and dataseries #2 is 240 tick. You can use both dataseries in decision-making, like when to enter or exit, but the actual entry and exit itself will always take place in dataseries #1.

MultiCharts has intrabarpersist, it basically means that unlike NinjaTrader, you do not need to wait for a 'bar' to 'close' (all 480 ticks) before a signal can be generated and sent into that bar. Personally, I think the way multiple dataseries are handled in MultiCharts is 10000x better and simpler than NinjaTrader, but you should always take the trial before you buy to make sure it fits your needs.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
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  #7 (permalink)
Elite Member
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Posts: 104 since Aug 2010
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Thanks, Mike. I think I will do the 30-day Trial of MultiCharts. I currently trade using Zumo and it's Firetip trading platform. I have downloaded TradeStation to try to backtest my strategies, but am not that good at programming to use ADE, global variables, etc.

I really like your forum!

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  #8 (permalink)
waverider
Sydney
 
Futures Experience: Advanced
Platform: NinjaTrader; TWS
Broker/Data: Kinetick, IB
Favorite Futures: US Stocks, FX, Futures
 
Posts: 45 since Dec 2009
Thanks: 28 given, 5 received

Thanks

Thanks guys, much appreciated. I'm going to get started with MC. It's better than tradestation and all the rest it would seem ? (for backtesting) ... (and hopefully trading if they get a good DOM happening) ...

Is there any way to get it free if you don't use it for live trading (like Ninja) ?

Thanks again,

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  #9 (permalink)
Elite Member
Italy (IT)
 
Futures Experience: Advanced
Platform: ATAS, R|Trader, NT8
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Posts: 1,497 since Apr 2010
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Give a look at Wealth-Lab.NET - Hometoo, it has a very good credit.
And lately I found this Quantum Charts, but dont know how it is.

Luke.

Take your Pips, go out and Live.
Luke.
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  #10 (permalink)
Just starting out...
Louisiana mostly
 
Futures Experience: Advanced
Platform: MultiCharts, Excel
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Posts: 10 since Aug 2010
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Answer
This post has been selected as an answer to the original posters question Answer


I'll throw in another vote for Multicharts as a backtesting platform. (Greetings, btw, first post on the forum).

With a good mind for logic and some basic programming skills, you can create strategies with MC or Tradestation that would take a huge amount of code and professional-level programming skills to write and debug in some other products.

If you're not a former Tradestation user, setting up Multicharts can be a learning curve, but it's not awfully steep. The relationship between your data feed, MC QuoteManager, and the MultiCharts executable itself, for instance. And the way different products use their own jargon (is that an Indicator or a Study? A Strategy or a Signal? etc). In other words, getting from the download to where you're staring at your tick chart, comfortable with the product, and ready to start backtesting.

Definitely consider the download and free trial period, it's fully functional, and focus that trial time on backtesting (for example, I've been using MC for a year and a half now and have never even opened the intraday scanner-- it has features for everyone, only use the ones you need, especially when the clock is ticking).

But if you do have any questions, I think you've come to the right forum!

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