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Algorithmic trading in third-party trading platform API, MC+ASP, MC .Net+ASP, NT 8?
In the case of developing a Robot for trading FX and Metals on a third-party trading platform API, which one of the trading platforms in the market worth buying?
1- Multicharts +AdvancedStrategyPack (1'997 USD) +purchaseable Add-ons
2- Multicharts .Net +AdvancedStrategyPack (1'997 USD)
3- Ninjatrader 8 (1'099 USD ~ 1'649 USD) +purchaseable Add-ons
4- MotiveWave Ultimate ~2295USD +295USD annual update and support fee {updated}
5- ... ?
Tnx and best of luck
Can you help answer these questions from other members on NexusFi?
I know a little bit of everything in these programming languages. Little bit C#, Java, C, etc.
I'm not sure if the MC EasyLanguage can beat C# or C# in MC .Net? What is the real difference between Robot generated by EasyLanguage of MC to C# generated MC .Net?
But I prefer NT8 as seems reliable but I'm not sure how to connect the FIX API of NT8 to unsupported brokers?
I've done _a lot_ of development around creating trading algos.
I would suggest that you take the path with the least amount of resistance.
In my case, I focus on MultiCharts and MetaTrader4. Both platforms connect to a wide array of brokers / exchanges and allow for relatively fast iteration of ideas.
Your problem currently is not the technology or the programming language, your problem right now is finding strategies that work. To find those strategies, you need to test a lot of ideas. Most of those ideas won't work. Optimise your time for finding ideas and don't optimise your time for the wrong thing (technology choice).
For someone who is not a professional developer, MultiCharts and TradeStation are the easiest to be productive quickly because of the simple nature of EasyLanguage / PowerLanguage.
I agree with Syntax. Quickly being able to test ideas is key to success in algo development. If you already have a system that works and you are just looking to optimize and run it, I'd suggest finding the platform that fits your broker needs.
All of your options include upfront costs. Have you thought about using Tradestation to start development and frame some ideas? It's free! I pay no subscriptions, no data fees. Downsides are crashes if you are unlucky, commissions, being stuck to one broker, etc. But to start out and look for ideas that work before you buy a lifetime license, it might not be a bad start. Don't think whatever you start with you will have to live with forever. I could port my strategies over to any algo platform once I learned that new language.
I personally started with Tradestation. Then bought multicharts a few years later. I still trade live on Tradestation every day. I use multicharts for backtesting. It works great for me and best if all it's all $0 monthly fees.
As of very recently, Multicharts has started to offer software licensing on a monthly or yearly subscription basis. Just another option if you are considering that platform.
That is a good approach. My only caveat here is that if you use different data sources for Tradestation and Multicharts testing, you could get WILDLY different results.
Yes good point Kevin. I do use Tradestation as my data source since it is free and I get real time and tick data (not that I need that for the most part). Strategies and studies match perfectly between the two in my case since the data is the same.
