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-- Big Mike, Site Administrator
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My quest for a great platform for a Discretionary Traders.
One of the things I should have done is list not only what I am looking for in a platform, but also the things that I don't care about, i.e. programming and backtesting.
I now appreciate the fact that with some finetuning all these platforms can look great.
I also agree with Big Mike, i.e., not to put all the eggs in one basket. I found that using more than one platform gives me the flexibility to crosscheck, and use each of the platform's strength. It also will keep me from not being married to one platform. I suspect that if I was introduced to more than one platform when I started trading, I wouldn't have stuck around with Tradestation all these years.
I eliminated Investor RT based on the fact that I am not at this point interested in doing the type of analysis that they specialize in.
For the last few days I have been using NinjaTrader, and I have to admit I am warming up to the platform. It also helps that I was fortunate to have great tech support give me some useful information on historical data management, etc.. So right now, I use NinjaTrading for charting during trading, and in the evening setting up the new Multicharts DT. In addition, my broker has asked me to beta test their white label version of Sierra Chart, so I will get exposure to this platform as well.
I will check Ensign out after I am more comfortable with these three.
I think ultimately, I will naturally gravitage towards one platform as the dominant one, but I will let the future take care of itself.
Regarding the related issues that Big Mike addressed above: I already have IQFeed. While it's nice to have trading from the charting platform, it's not a big prioirty for me. I am quite content using my current broker's DOM for order execution.
The best platform for execution I have ever used was TTs X-trader, but then again I was not paying for it. For charts it has to be CQG. Now that am on my own the closest match that I have found so far found is NT7. I am discretionary trader and like Paladin I trade by the market structure. I would scalp or take longer term positions and it was important to me the DOM feature as I can quickly turn around, bid inside the spread (Forex) or just cancel everything.
I am just curious what are the big INTERBANK market makers/traders use nowadays. Its got to be the best and quickest for execution.
"The only thing to do when a man is wrong is to be right by ceasing to be wrong." - Edwin Lefevre -
