Big Mike 

Actually the biggest difference in my opinion is the free version you cannot create custom studies, or import studies from friends or the forum, etc. NinjaTrader free: you can do everything, but only on sim MultiCharts free: you can trade live for free, but only with built-in indicators Mike

I was not referring to the free version, but to the standard and the pro versions. For the free versions your statement brings it down to the point.

I prefer the NinjaTrader way, as it allowed me to gain control of the software, before going live. With MultiCharts I have to pay first, before I can do custom studies and strategies. No point having it for discretionary trading, if I cannot use any custom studies.

Fat Tails 

I was not referring to the free version, but to the standard and the pro versions. For the free versions your statement brings it down to the point. I prefer the NinjaTrader way, as it allowed me to gain control of the software, before going live. With MultiCharts I have to pay first, before I can do custom studies and strategies. No point having it for discretionary trading, if I cannot use any custom studies.

Gotcha. I always forget about that massively expensive "Pro" option, I think it is really only meant for institutions not retail traders.

Mike

many thanks for the replies. I had been running mulit-timeframe scripts in my charts and thats definitely slowing them down. the scripts themselves are fairly straightforward - like MACD etc. but in volatile markets my charts can move very fast as they are price based charts and then I can visually see NT7 getting slowed down. Now I'm running all of my scripts on CalculateOnBarClose = True mode.

I can also visually notice lags in the price moves in my TT-Xtrader DOM vs NT7 DOM.

Is there a general consensus on what the best feed is for Multicharts ? I have Bloomberg but I never thought of it as the most cutting edge technology for fast data feeds.

thanks again for all your feedback

I use and recommend IQFeed with MultiCharts. As an Elite Member there is also a $50 off coupon in the elite section. I've never used Bloomberg as I don't want to spend $3,000 a month on a data feed

https://nexusfi.com/elite_partner.php

If you use NinjaTrader and only Ninja, then you can use Kinetick which is IQFeed data re-branded and less expensive for use solely with NinjaTrader.

Mike

I tried several platforms more or less simultaneously, and just naturally began to gravitate towards the one I prefer which is NinjaTrader. I am a discretionary trader and run a couple of tick based charts, but don't use a lot of indicators.

It could be that it is because I have an older computer, but when I tested IQFeed with NinjaTrader and Multicharts DT, it was easy to see that NinjaTrader charts were faster. At any rate, I did not see any delays or glitches.

NinjaTrader had drawing tools that Multicharts lacked (such as arrow line, and writing paragraphs of text on charts). I liked their data manager. I can download historical data without bringing up charts.

I also like their documentation. Very easy to understand. Their replay feature is the most realistic and I use it to practice a lot.

There are also some extras associated with using NinjaTrader. If you have Zen-Fire based account, you have a historical tick backfill going back a year. And now they record CQG as well for those who have account with AMP. Even if you don't pay for Kinetick, you get free end-of day data.

Multicharts is not a bad program, but NinjaTrader is the one that meets my needs, and I see no reason to change.

I agree, MultiCharts is lagging way behind on drawing tools. I've asked, begged, etc but they've not made them easier to use (such as a hotkey). I believe I last asked Stan about this a few weeks ago during a webinar, and he promised an improvement for the 7.1 release, which I believe is due in December.

Mike

Big Mike 

I've never used Bloomberg as I don't want to spend $3,000 a month on a data feed

first, bloomberg is much more than just a data feed, it starts at $1800 for the terminal and it goes up from there... the value is not on the feed, but on the analytics and intelligence it provides... second, if the tool aids you on making $100K+ a month, $3K is a drop in the bucket ... but I guess it all comes down to the type of trader, the account size, and what one is trading.

for readers out there who might be discouraged by thinking BLP is not worth while, please note that BLP and Reuters are professional level platforms and tools that most retail investors dont have a clue how to use or take advantage of due to lack of capital or lack of sophistication...

as to the question of NT7 vs. MC7... they are both the same at this point in time... NT7 has an advantage given it was free for a lot longer and as such it has a greater community (futures.io (formerly BMT) as an example is 90%+ made of NT7 people) than MC7... but MC7 inherited a lot from the TRAD EL community... I own both licenses, so not bias towards one or the other... and I use none btw... I watch to see what TSS will do now that TRAD has awaken from their slumber, bought the best WFO tool in the market for EL and has stated adding features that MC has had for a while... I am sure they will eventually surpass it...

anyhow, with both free now.. it is a coin toss... and whatever makes your fancy..

buylosellhi 

many thanks for the replies. I had been running mulit-timeframe scripts in my charts and thats definitely slowing them down. the scripts themselves are fairly straightforward - like MACD etc. but in volatile markets my charts can move very fast as they are price based charts and then I can visually see NT7 getting slowed down. Now I'm running all of my scripts on CalculateOnBarClose = True mode. I can also visually notice lags in the price moves in my TT-Xtrader DOM vs NT7 DOM. Is there a general consensus on what the best feed is for Multicharts ? I have Bloomberg but I never thought of it as the most cutting edge technology for fast data feeds. thanks again for all your feedback

If you have money for a Bloomberg Terminal, why are you asking about NT and MC?

Why not use Updata or Aspen Graphics with your BT instead? You can also connect your Bloomberg to MATLAB, e.g.

Regarding the speed of BB's data feeds; B-Pipe looks pretty fast to me...

If you want a different charting platform, get CQG IC. None of the other retail platforms can compete, except on price, of course.

Experienced data lag on Ninja 7 with IQFeed. Was running 9 charts with minimal indicators. Missed the charting style of TradeStation and the way the workspaces run as a tab, so switched to Multicharts. Running IQFeed and no problems so far.

I trade FX automated on IB and noticed I cannot trust NT's backtest results at all.
Multicharts much better in this regard since it is possible to backtest on BID/ASK without doing lots of code-gymnastics.


Otherwise not big difference, both have their minor + and -.