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Many thanks TraderDoc. I sent an email to TradeStation to see what are the options for Canadian but I think you’re right and it is now possible to only use their trading platform which seems a great alternative to NT. I’m getting more and more excited at the idea of saying bye forever to NT.....
Thanks RLSStreet. I had a look at their website. The features seems to be quite interesting but how robust is the overall platform ? I didn’t want to be the one debugging NT8 so I won’t go to the nightmare of converting all my algos and indicators on a platform that is not robust.
Problem I have with NT7 is that it has a lot of troubles picking up trades after connection lost or weekend. Also the strategy stats sucks, has tendency not to keep a accurate bookkeeping in aggregating executions to trades.
In this respect Zorro is far more robust.
Zorro has also capability to hookup R and soon also python so you can have the whole analytical, machine learning world at your disposal. I use R bridge in a relatively high frequency algo and it functions perfectly under these conditions. So perfect functionality for algo traders also taken in account it has a lot functions to prevent curve fitting / datamining bias
An other pro is that the product is actively maintained, new features, bug fixing. You know that problems are going to be fixed. And the product is way faster, and way cheaper btw.
Downsides of the product: learning curve was high, and there are not a lot of examples. Makes it hard. But I must admit that the learning curve also had to do that I use capabilities that weren't possible on NT so lot of new stuff. I took a course and that helped me a lot.
Support is okish, people know what they are talking about, but I joined an active Zorro community which also provided the course, they are willing to help you out with all kinds of stuff, coding, analytical, fundamentals. I really learned a lot in this respect.
If you're depending on TA stuff this product is not the way to go, it has basic and non dynamic plot possibilities: good enough for analytics but no go for TA people. On the other hand the product supports a lot of indicators.
Zorro has also a basic set of order types, stop, market, limit, oco but that's about it.
With NT7 I had to use TWS as bridge to IB, with Zorro you can use IBgateway, less heavy.
So my advice: if you want an easy transition from NT to Zorro perhaps this is not the way to go because of the high learning curve. But if you are looking for extra analytical capabilities, more speed and robustness and you have the patience to endure some transition issues this is definitely a way to go.
I used nt7 and nt8 for a combined 7 years and tossed it out ( one of the original dual broker licenses fully owned) for Sierra Chart about two months ago. It took me about a week to get used to the functionality behind it, but now I absolutely love it....
Thanks Xiaosi. Based on everything I read and heard so far, it seems that indeed Sierra is the way to go. I’ll have run both in parallel the time I get use to it and then will happily drop NT....
Try TT web from trading technologies. Execution is super-fast and there are more than enough features to be a good trader: amazing order book and great execution times.
I also love the Traders Analytics feature within it which allows you to see the stats of all your trades per instrument. An amazing source of insights!
It's been a while I visited here, but the comments are so relevant and to the point,
both in terms of the NT disappointments, Sierra Chart's being small and neat, but the UI and documentations are from 19th century! I loved the comments of whoever did this should be *slowly* strangled!
Lastly special thanks to rlstreet on Zorro, looks very promising as it has R/python native support, good directions toward emphasizing data analysis, modeling and possibly expanding to using the latest 'machine learning' algos, etc.
Same here. I'm having constant connection issues with NT8 that i do not have with any other platforms. Also since I have the free version it is pretty much useless for trading as it doesn't even have OCO orders! I beleive NT is on its way down and will be wiped out in comming years.