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Did you leave NT for Sierra Charts?


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Did you leave NT for Sierra Charts?

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  #1 (permalink)
 AlphaSquared 
Indianapolis, Indiana
 
Experience: Intermediate
Platform: NT
Trading: ES
 
Posts: 16 since Jun 2014
Thanks: 11 given, 5 received

Just wondering if any of you migrated from NT to SC? If so, are you happy? How do the costs compare?

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  #2 (permalink)
 tulanch 
Salt Lake City, UT
 
Experience: Intermediate
Platform: SC, NT, MT
Broker: AMP
Trading: NQ ES YM Bonds
 
Posts: 250 since Mar 2010
Thanks: 49 given, 369 received

Yes I moved over a year ago.

SC offers a lot out of the box - a lot. I did found it's UI more complex than NT but with time I learned it. I am able to develop in SC using their remote compiler, but I do not need to do as much developing as I did in NT because what I wanted is already available in SC.

SC has been rock solid even with 7-8 charts open during busy times. My laptop with 3 attached screens has no issues. I do have 16GB of RAM which is pretty much required for Windows 10 anyways.

I do not pay anything for the version I have. I believe there are 3 configurations; 1, 3 and 5. I have configuration 3 so not all SC studies/indicators are available (IE can not use their numbers study) . I could get to configuration 5 for $20/month and have access to all.

What I have is enough for my needs.

I liked NT and I like SC. I switched because SC remained free to me to use.

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  #3 (permalink)
 bobwest 
Site Moderator
Sarasota FL
 
Experience: Advanced
Platform: Sierra Chart
Trading: ES, YM
 
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Posts: 6,444 since Jan 2013
Thanks: 48,894 given, 21,565 received



AlphaSquared View Post
Just wondering if any of you migrated from NT to SC? If so, are you happy? How do the costs compare?

1. Yes.

2. Very happy. It's solid and it's fast, and it can do just about everything I want it to. It has never been slowed down by how much I want it to do, which is not always true with NT8.

3. Some brokers offer it for free, although I think there may be a limit on which level you can use in the free broker version. The paid functionality has two levels, $26/month and $36/month, depending on what you need. I am fine with the $26/month. "Costs," of course, will include trading costs and fees, which are broker-dependent. The $26 and $36 (or free version) are just for the platform.

With all that said, the move can be very difficult because the learning curve for Sierra is very steep, and the documentation, while extremely complete, is also hard to master and to find things.

Best advice would be to go to their web site, take a free trial -- I believe they do a 2 week trial and will extend it another two weeks on request -- and try it out. I think they will include live data with the trial, if I am not mistaken. If all you need is to try it out, they also do free 10-minute delayed data with no time limit.

It is a great trading platform, but be aware of the learning curve.

Bob.

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  #4 (permalink)
mrburns
Prague, Czechia
 
 
Posts: 21 since Jul 2020
Thanks: 17 given, 11 received

Yes, I moved from NT. Why? Subjectively to me SC performs a lot better, charts draw incredibly fast, unadorned UI environment consists of just good old plain windows objects, a lot of chart studies included, ACSIL which is pure C++, DTS protocol ( ok both not relevant to non programmers), last but not least spreadsheets functionality.

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  #5 (permalink)
 sudhirc 
detroit,mi
 
Experience: Beginner
Platform: NT
Trading: NQ
 
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Posts: 412 since Sep 2011
Thanks: 1,702 given, 457 received

Moved to SC about 10 days ago and l love it.
The main reason i moved to SC is because of Profile charts. Every thing is there and all you have to is configure it to your liking.
Much easier in SC when compared to NT as you don't need to do any programming.
So far it is stable and loads tons of data much faster than NT.
The only thing i miss is the customer support, which is excellent in NT. Where as in SC, you have to read and read and read their help files, steep learning curve as most mentioned.
I think i explored only a small percentage of what it can with, but for now i was able to setup all my charts the way i need.

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  #6 (permalink)
patricia
Berlin Germany
 
 
Posts: 93 since Jul 2020
Thanks: 5 given, 80 received

I am using Ninjatrader Brokerage with PhillipCapital, so CQG datafeed. Will I be able to use my introducing broker (=NTB) with that FCM (=PCAP) without any issues? SierraChart help says there are issues for CQG customers and if understood correctly (I'm german) they suggest to use SC data service instead. Anyone can share some experience?


Quoting 
Notice: Users can experience disconnection issues and lagging market data when using CQG. This can cause risk with trading and there have been many reported incidents reported already. We recommend that new users or users trading the CME group of markets only use the Sierra Chart Order Routing service with Data instead of CQG if you just require CME/CBOT/NYMEX/COMEX trading only. Sierra Chart as of November 1, 2019, will only provide support to CQG users within our discretion. We are not able to help with data lagging issues, disconnection issues, or other types of data issues encountered.


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  #7 (permalink)
patricia
Berlin Germany
 
 
Posts: 93 since Jul 2020
Thanks: 5 given, 80 received

Sad to hear this is not possible. NinjaTrader Brokerage does not support the TT Order Routing Collaboration. Phillip Capital Clearing does support the service but it would need to move to one of their Introducing Brokers AGN Futures or Edge Clear.

For a list of the Brokers / Clearing Firms that support the service see #2 here:
https://www.sierrachart.com/index.php?page=doc/SierraChartOrderRoutingServiceWithData.php

Conclusion --> NinjaTrader Brokerage will not work with SierraChart.

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  #8 (permalink)
 bobwest 
Site Moderator
Sarasota FL
 
Experience: Advanced
Platform: Sierra Chart
Trading: ES, YM
 
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Posts: 6,444 since Jan 2013
Thanks: 48,894 given, 21,565 received


patricia View Post
Sad to hear this is not possible. NinjaTrader Brokerage does not support the TT Order Routing Collaboration. Phillip Capital Clearing does support the service but it would need to move to one of their Introducing Brokers AGN Futures or Edge Clear.

For a list of the Brokers / Clearing Firms that support the service see #2 here:
https://www.sierrachart.com/index.php?page=doc/SierraChartOrderRoutingServiceWithData.php

Conclusion --> NinjaTrader Brokerage will not work with SierraChart.

The NinjaTrader platform was developed years before there was a NinjaTrader Brokerage, and at that time it could be used with a large number of brokers and gained wide acceptance.

Several years later, NT bought up a failing broker and renamed it NinjaTrader Brokerage, at which time it also restricted use of its trading platform to its own brokerage and a small number of others. The intention was to pursue the business opportunity of running a broker with its own trading platform that would be directed at the existing base of platform users. It was meant to be an exclusive or near-exclusive deal. There would never have been a NinjaTrader Brokerage if there had not been a successful and popular NinjaTrader platform first.

I am not criticizing the business decision, but NT Brokerage was never meant to accommodate its competitors in the trading platform field. The possibility of going around NT by connecting directly to its FCMs was always just a hack that went against the NT business model, which involves NT Brokerage accounts using only the NT platform.

Sierra Chart has recently been working to develop its own data feed and trading network, bypassing many existing services, such as CQG and Rithmic, which SC will still function with but which SC is not happy with and is trying to move their users away from. They show no signs of an interest in going into the brokerage business themselves, since their market is in their wide acceptance by the customers of many brokers. Most brokers do not offer their own unique platform, due to the obvious technical difficulties, and that offers an opportunity for independent platform providers. But some do.

I think you have reached the end of your rope in seeking an alternative to the NT platform while using the NT brokerage. They were not meant to be separable in the first place.

You mentioned in another post that you were attracted to NTB for its low margin requirements, among other things. While low margins have their risks, especially for a trader new to futures, there are many brokers with low margins, who also do not force you into one platform.

the decision of the broker and the platform are independent questions, usually at least, which makes the decision more complicated.

Bob.

When one door closes, another opens.
-- Cervantes, Don Quixote
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  #9 (permalink)
 bobwest 
Site Moderator
Sarasota FL
 
Experience: Advanced
Platform: Sierra Chart
Trading: ES, YM
 
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Posts: 6,444 since Jan 2013
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patricia View Post
Sad to hear this is not possible. NinjaTrader Brokerage does not support the TT Order Routing Collaboration. Phillip Capital Clearing does support the service but it would need to move to one of their Introducing Brokers AGN Futures or Edge Clear.

I believe you can open an account directly with Phillip Capital without going through an Introducing Broker. I just took a quick look at their web page and found this statement: "Whether you come to us as a direct customer or through our IB network, PhillipCapital is here to serve your needs. "

I have no idea whether you should or not, but many FCM's are happy to have your account with them directly and cut out the IB, which is simply a sales/customer-service operation. An IB may provide value to the customer, but their value to an FCM is simply as a source of new accounts, and they will usually willingly open accounts on their own.

Bob.

When one door closes, another opens.
-- Cervantes, Don Quixote
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  #10 (permalink)
patricia
Berlin Germany
 
 
Posts: 93 since Jul 2020
Thanks: 5 given, 80 received


I tend to use SierraChart as my trading and charting platform. However, there is a catch: with my current introducing broker "Ninjatrader Brokerage" it is unfortunately not possible to use SierraChart, I have already confirmed this.

My question to you professionals: do you know an alternative broker that has such low margin requirements as NTB? That was the only reason why I originally chose NTB+PhillipCapital. I would like to switch to InteractiveBroker or similar, but I can't implement my strategy with the required high margin. I am well aware of margin requirements and risks, but I want to have a low margin requirement for ES and MES. I am only interested in intraday trading, I never hold a position overnight.

Who knows a recommended broker that offers both low intraday margins and is compatible with SierraChart?

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  #11 (permalink)
 sudhirc 
detroit,mi
 
Experience: Beginner
Platform: NT
Trading: NQ
 
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Posts: 412 since Sep 2011
Thanks: 1,702 given, 457 received

@patricia
https://www.tradovate.com/ - Customer Service is good, prompt and professional
https://www.ampfutures.com/ - Customer service - unprofessional.

Both are have low commissions.

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  #12 (permalink)
patricia
Berlin Germany
 
 
Posts: 93 since Jul 2020
Thanks: 5 given, 80 received

latter one (AMP) looks interesting related to low margin and commission/fees. Unfortunately I read a lot of negative comments in forums and in the net about AMPfutures ( example)

Tradovate has not as low margins for FDAX and FDXM as NTB or AMP, therefore I cannot consider them further.

anyone has some more suggestions of a good broker with low margins ?

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  #13 (permalink)
Mozart2112
Minoqua Wi USA
 
 
Posts: 84 since Sep 2019
Thanks: 47 given, 47 received

I can't speak to your experience but I would like to give my opinion and perspective on AMP. I've been with them for over a decade now and there were a few times when I needed to call in and I NEVER had anyone who was unprofessional or rude... In fact the help desk seemed to go out of their way to help me with my needs. Markets can be volatile both day and night sessions and AMP customer support is always there when needed 24 hours per day. If I ever would had a bad experience with AMP I would left a long time ago but that is clearly not the case. I would recommend them to anyone, not to mention they are very competitive in their costs and margins. In regards to Tradovate, I have looked at them and what I can say is that it took several phone calls and emails to finally get some accurate info because I was being given conflicting numbers on their costs and margins. I do not have an account there, however. Happy Trading!

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  #14 (permalink)
 awesomizer 
Portage, MI
 
Experience: Intermediate
Platform: Bookmap, Tradingview
Trading: NQ
 
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Posts: 73 since Nov 2020
Thanks: 190 given, 46 received


bobwest View Post
I believe you can open an account directly with Phillip Capital without going through an Introducing Broker. I just took a quick look at their web page and found this statement: "Whether you come to us as a direct customer or through our IB network, PhillipCapital is here to serve your needs. "

I have no idea whether you should or not, but many FCM's are happy to have your account with them directly and cut out the IB, which is simply a sales/customer-service operation. An IB may provide value to the customer, but their value to an FCM is simply as a source of new accounts, and they will usually willingly open accounts on their own.

Bob.

That is very interesting, anyone have any experience cutting out the IB middle man?

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  #15 (permalink)
 bobwest 
Site Moderator
Sarasota FL
 
Experience: Advanced
Platform: Sierra Chart
Trading: ES, YM
 
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Posts: 6,444 since Jan 2013
Thanks: 48,894 given, 21,565 received


bobwest View Post
I believe you can open an account directly with Phillip Capital without going through an Introducing Broker. I just took a quick look at their web page and found this statement: "Whether you come to us as a direct customer or through our IB network, PhillipCapital is here to serve your needs. "

I have no idea whether you should or not, but many FCM's are happy to have your account with them directly and cut out the IB, which is simply a sales/customer-service operation. An IB may provide value to the customer, but their value to an FCM is simply as a source of new accounts, and they will usually willingly open accounts on their own.

Bob.



awesomizer View Post
That is very interesting, anyone have any experience cutting out the IB middle man?

Again, I think this is quite routine.

For instance, you can open an account directly with AMP, which is glad to get it. Or you can use an IB that connects their customers to AMP as an FCM. There are many FCM's like this.

To take one example, here is a list of FCM's that Optimus Futures, an Introducing Broker, will open an account with: https://optimusfutures.com/Select-Futures-Clearing-Merchant.php . You will recognize many of the names. I know that you could go to some or all of them directly, including AMP, TradeStation and others. (I have never dealt with Optimus myself and have no opinion of them one way or the other. I am just using them as an example.)

I am not either plugging nor criticizing Optimus, which is run by our member @mattz, nor am I criticizing or downplaying the role of an IB. There may be added value provided by a particular IB, and they do have customers, who find a reason to stay with them in a competitive marketplace where there are many options.

I just wanted to point out that this kind of arrangement is commonplace in the industry, and that many FCM's may be happy to maintain their own customer-facing departments, as well as use an IB. A trader would have to look into the particular situation to see what is best for them.

Bob.

When one door closes, another opens.
-- Cervantes, Don Quixote
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  #16 (permalink)
 Powdrpig 
Bend, Oregon
 
Experience: Advanced
Platform: Sierra Chart
Broker: IB
Trading: NQ/MNQ/ES/MES
 
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patricia View Post
latter one (AMP) looks interesting related to low margin and commission/fees. Unfortunately I read a lot of negative comments in forums and in the net about AMPfutures ( example)

Tradovate has not as low margins for FDAX and FDXM as NTB or AMP, therefore I cannot consider them further.

anyone has some more suggestions of a good broker with low margins ?

Patricia you might want to check out DeepDiscountTrading.com. They offer low margins as well as supporting Sierra Charts. Plus server-side execution. Also here is a review link you might want to check:

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  #17 (permalink)
NaturePip
Cochrane Alberta Canada
 
 
Posts: 12 since Nov 2013
Thanks: 1 given, 21 received


AlphaSquared View Post
Just wondering if any of you migrated from NT to SC? If so, are you happy? How do the costs compare?

I did move from NT to SC as well. I am very happy with SC and find the functionality works for me since I keep a lot of charts open. I can draw very fast on SC with hotkeys which is important to me.

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