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www.motivewave.com new trading platform
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www.motivewave.com new trading platform

  #31 (permalink)
Trading for Fun
Boston, MA
 
Futures Experience: Intermediate
Platform: Sierra Chart
Broker/Data: Interactive Brokers, AMP/CQG
Favorite Futures: N225M (Osaka), ES
 
Posts: 165 since Dec 2014
Thanks: 60 given, 112 received


Magiklair View Post
I've attached some screenshots of both platforms on their trade manager page.. As for the number of options. I should have specified Study, not options.. Where there are quite a few.

I haven't looked much into the manual as I couldn't get my tick charts to display without an error.

I have IQ feed and interactive brokers. Both wouldn't work with a larger tick value.
When I tried to specify a tick value of more than 100 it gives me some error. I would like to use a 2000 tick chart. So no such luck there. The instrument I trade is Forex. I gave my overall impressions with a letter grade. I used it more than a couple minutes. I also wish they had a few more themes available for the UI. I am not a fan of Windows 8.. Overall I like the program, I just wish there were some changes. I'm more of a price action trader. So extra features and such are not preferred. I.e. study.

Update:
after working with the software for a bit longer. I have revised My overall grade to B. As the pricing is quite competitive and seems pretty lightweight. But please get some other themes and make sure it works with tick charts.
regards,
Brian

Summary fix:
Better Themes
Tick chart (2000 bars)
Candlestick Bars (The color to red and Black)

The screenshots you just shared show that there are very little similarities between the two programs from a graphical and organizational perspective. I've used both programs. Believe me, they are nothing alike.

You probably are demoing the full-blown Ultimate Edition. Try asking them for a Trade Edition demo. They will give you access to that. That's what I use, and it's simple and very efficient. If you are a price action trader, I think you will find the Trade Edition pretty attractive.

You should contact MotiveWave support for your tick chart problems. Perhaps something isn't configured properly. Not really fair or accurate to disparage software before attempting to fix any possible underlying issues.

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  #32 (permalink)
Shakes
Alexandria, Minnesota
 
Futures Experience: Beginner
Platform: Ninja trader
Broker/Data: IB / IQFeed
Favorite Futures: Forex
 
Posts: 135 since Jun 2014
Thanks: 30 given, 33 received


mangolassi View Post
The screenshots you just shared show that there are very little similarities between the two programs from a graphical and organizational perspective. I've used both programs. Believe me, they are nothing alike.

You probably are demoing the full-blown Ultimate Edition. Try asking them for a Trade Edition demo. They will give you access to that. That's what I use, and it's simple and very efficient. If you are a price action trader, I think you will find the Trade Edition pretty attractive.

You should contact MotiveWave support for your tick chart problems. Perhaps something isn't configured properly. Not really fair or accurate to disparage software before attempting to fix any possible underlying issues.


As for the looks. We beg to differ. Yes, I am testing out the ultimate edition. The trader edition may be as you say. I already have ninja trader as my set up. Otherwise I'd look more into the tick chart issues.. I'm just providing some feedback on the product. I like it, just needs some tweaks as I mentioned above.

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  #33 (permalink)
Trading for Fun
Boston, MA
 
Futures Experience: Intermediate
Platform: Sierra Chart
Broker/Data: Interactive Brokers, AMP/CQG
Favorite Futures: N225M (Osaka), ES
 
Posts: 165 since Dec 2014
Thanks: 60 given, 112 received



Magiklair View Post
As for the looks. We beg to differ. Yes, I am testing out the ultimate edition. The trader edition may be as you say. I already have ninja trader as my set up. Otherwise I'd look more into the tick chart issues.. I'm just providing some feedback on the product. I like it, just needs some tweaks as I mentioned above.

All trading platforms look "similar" to each other, then, if NT and MW can be said to look similar. Hey, they all have menus and charts and DOM. Does that mean they are similar? And yeah, all software needs some tweaks according to different users. The thing that is most helpful when reviewing software is to actually comment on usability, performance, and bugs... not "user preference" issues (like colors, and schemes, etc.) because those things are highly specific to each person's tastes, and rather irrelevant to trading. Would you honestly give trading software a rating based on how many colors you can paint the bars with? When I test out software, I am looking for things like efficiency, ease of use, memory usage, charting features, chart data issues, etc. So far, MotiveWave and Sierra Chart are my favorite, by a long shot.

You did bring up a valid issue with the tick data - if you did get MotiveWave support involved in this issue, I'm sure they could assist. Keep in mind that Interactive Brokers' API is highly complicated, and even Sierra Chart says that there can be numerous issues because of the complexity of what they are dealing with.

In some weeks, I will post a review of the software and describe it better for people who are interested in using it. I think one of the most off-putting things about the software is its name - it leads people to think it's all about Elliott Wave theory. It's really not. It just has all that stuff specifically in the Ultimate Edition. If you are a price action trader and think Elliott Wave theory is a bunch of crap, then just ignore that edition. I don't use anything wave related when I am trading. The Professional Edition (and all the editions below that) have nothing to do with Elliott Wave.

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  #34 (permalink)
Shakes
Alexandria, Minnesota
 
Futures Experience: Beginner
Platform: Ninja trader
Broker/Data: IB / IQFeed
Favorite Futures: Forex
 
Posts: 135 since Jun 2014
Thanks: 30 given, 33 received


mangolassi View Post
All trading platforms look "similar" to each other, then, if NT and MW can be said to look similar. Hey, they all have menus and charts and DOM. Does that mean they are similar? And yeah, all software needs some tweaks according to different users. The thing that is most helpful when reviewing software is to actually comment on usability, performance, and bugs... not "user preference" issues (like colors, and schemes, etc.) because those things are highly specific to each person's tastes, and rather irrelevant to trading. Would you honestly give trading software a rating based on how many colors you can paint the bars with? When I test out software, I am looking for things like efficiency, ease of use, memory usage, charting features, chart data issues, etc. So far, MotiveWave and Sierra Chart are my favorite, by a long shot.

Well ignore my review then... I said what I liked and didn't like.. I mean Jesus..



Quoting 
You did bring up a valid issue with the tick data - if you did get MotiveWave support involved in this issue, I'm sure they could assist. Keep in mind that Interactive Brokers' API is highly complicated, and even Sierra Chart says that there can be numerous issues because of the complexity of what they are dealing with..

I'm using both interactive brokers and IQ feed..


Last edited by Magiklair; May 12th, 2015 at 04:48 PM.
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  #35 (permalink)
Shakes
Alexandria, Minnesota
 
Futures Experience: Beginner
Platform: Ninja trader
Broker/Data: IB / IQFeed
Favorite Futures: Forex
 
Posts: 135 since Jun 2014
Thanks: 30 given, 33 received

Update

I sent a message to support with this thread. It sounds like the issues I had have been fixed. So upon further review. I'd give it an A.. I think the trader edition for $295 lifetime is a very good deal. When you compare it to ninja trader at $1000. I've just used ninja trader for quite sometime and am quite happy. But if I had to buy a platform and traded on price action. I would buy the motive wave trader version for $295.
Regards,
Brian


Last edited by Magiklair; May 18th, 2015 at 04:06 PM.
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  #36 (permalink)
Elite Member
Sydney, Australia
 
Futures Experience: Intermediate
Platform: Sierra Chart, Motivewave
Broker/Data: IB / AMP (Rithmic)
Favorite Futures: CL / TF / FX futures
 
Posts: 5 since Aug 2012
Thanks: 0 given, 1 received

I have been using both Sierra Chart and Motivewave for over a year now with IB and Rithmic data.

Although I love the features on MW, I keep going back to Sierra, because MW takes ages to load non time based charts (range/volume/tick).

Is anyone else experiencing this issue?

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  #37 (permalink)
Trading for Fun
Boston, MA
 
Futures Experience: Intermediate
Platform: Sierra Chart
Broker/Data: Interactive Brokers, AMP/CQG
Favorite Futures: N225M (Osaka), ES
 
Posts: 165 since Dec 2014
Thanks: 60 given, 112 received


russell22 View Post
I have been using both Sierra Chart and Motivewave for over a year now with IB and Rithmic data.

Although I love the features on MW, I keep going back to Sierra, because MW takes ages to load non time based charts (range/volume/tick).

Is anyone else experiencing this issue?

Try asking their support, just in case there is something incorrectly set up. I didn't experience that with tick charts. What instruments are you trying to load?

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  #38 (permalink)
Elite Member
Sydney, Australia
 
Futures Experience: Intermediate
Platform: Sierra Chart, Motivewave
Broker/Data: IB / AMP (Rithmic)
Favorite Futures: CL / TF / FX futures
 
Posts: 5 since Aug 2012
Thanks: 0 given, 1 received


mangolassi View Post
Try asking their support, just in case there is something incorrectly set up. I didn't experience that with tick charts. What instruments are you trying to load?

I trade multiple instruments and have 4 charts open at the same time. Switching from time-based chart to tick/range is the biggest issue, as it can take over a minute sometimes. I'll email their support and see what they say.

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  #39 (permalink)
Elite Member
san francisco ca/usa
 
Futures Experience: Intermediate
Platform: MotiveWavem NinjaTrader
Broker/Data: IB
Favorite Futures: CL, TF, GC, ES
 
Posts: 4 since Dec 2014
Thanks: 0 given, 4 received

Motivewave review

Hi

I am using Motivewave as my primary Platform to trade Equities and Futures.

Details on what I trade:
- Equities. I swing trade equities. I tend to hold on to the equities position for as short as 1 week and as long as 1 year.
- Futures: I day trade futures. I trade CL, TF, NQ, and GC on a 5 min bar.
- My main brokerage for both Equities and Futures is Interactive Brokers. My Backup Futures Brokerage is NinjaTrader.

I run exclusively on a MAC computer (MacBook Pro). When I need to switch to Ninjatrader, I startup Parallel (VM) on a MAC.

I do not work for Motivewave and I am not a spokesman for them, but I do use it.

Why motivewwave:
- They support a MAC computer. This is probaly the number one reason fro me. I use a MAC. They use JAVA, so their software runs on a MAC/PC and I think linux. Most of the platform out there only support windows.
- The second best reason of why I chose them is their support. Their support is top notch. You will get a response back from them before the end of the day, sometimes, within 10 minute of you sending them an email.
- Motivewave has a lot of features. Go to their website and you can find out what they all are.
- Their charts are easy to the eye. Tonnes of customizations available.
- They have built in Elliotwave, Gann, and gartley tools. I used to use Elliotewave exclusively for all my trading, but less to an extent now. I still use Elliotwave and to some extent Gartley patterns on my longer term equities trades. I don't use it much for Futures.
- For all you get, the Ultimate edition is priced reasonably compared to other platform.

Below is a link to the Motivewave platform in action today for me. The first trade on CL missed my entry by 1 tick. The other trade is in TF (you will need to fast forward to close to the end of the video to see that trade). The TF trade also shows you the many features in Motivewave to manage a trade.

https://onedrive.live.com/redir?resid=A940204E091291ED!7186&authkey=!AGVKzpV9M41dvoY&ithint=video%2cmp4

If you have any questions about Motivewave for active trade that actually use it, please free to email me.

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  #40 (permalink)
Trading for Fun
Boston, MA
 
Futures Experience: Intermediate
Platform: Sierra Chart
Broker/Data: Interactive Brokers, AMP/CQG
Favorite Futures: N225M (Osaka), ES
 
Posts: 165 since Dec 2014
Thanks: 60 given, 112 received


For some reason, when I switched from Oanda to FXCM, I am having the same trouble loading tick charts. I will try contacting support for this issue.

Just fyi, the MotiveWave forum is back online:

MotiveWave Support Forum - Index

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