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Mike, thanks for chiming-in. Sounds like multiple instances then are not needed with MC. That being so, if you wanted to transact on a stock and a future, what must you do, if anything, to ensure the right broker is being engaged? Wait, I think I follow you. You mean that when you launch a chart, you can choose the source and broker? If so, that is mighty cool. One chart can be an equity that is at one broker, and another chart, a future with another broker...
Your commentary on MC, and that from others, was influential in my current strong lean toward it. If you've had the opportunity to use SC, how would you compare / contrast the two? If such a discussion exists here, please let me know. I'd like to know the notable differences.
Thank you.
omaha786, I'll ask SC to see what brokers might offer their platform...
Can you help answer these questions from other members on NexusFi?
Interactive Brokers offers cheap real-time data, which means you pay very little, but it is not top quality:
Real-Time Data
The data is condensed tick data, they do not offer the full resolution. Also the real-time volume shown is estimated volume, it is not real volume. This means that some indicators which rely on real tick-data, such as RealTime Stats, Delta, Cumulative Delta, will not work properly.
Historical Data
They only have minute and daily data, but offer no historical tick data.
Conclusion
In the longer term, with Interactive Brokers you need to subscribe for a professional data feed, such as e-Signal or DTN/IQ. But after all, a broker is not a data vendor, but what matters is order execution, slippage, execution cost and financial guarantees in case that your broker goes broke.
Correct, you choose the data source for instrument when adding to chart. One chart can even have multiple data sources if you want.
I use MC for charting and SC for execution. MC7 adds execution but not yet ready for prime time. SC also lacks some decent analytic reporting unfortunately, but Velocity has excellent portal that shows everything real time and shows it better than SC does, so I just use that.
Fat Tails, thank you for the detailed response. For what I've needed, IB would be perfectly fine. In attempting to forecast what I might need, I am not sure, possibly not. I envision wanting to backtest an ES strat that I might have and that the desired resolution will not be available from IB. I feel like I'm trying to extrapolate somewhat blindly here, so these discussions helps... I understand that a separate data provider would be ideal, but at this stage for me, I'd like to have a good combo broker with data...
Big Mike, thanks for confirming. As you saw, I found the SC thread. I read there that SC plans to do the same as MC (chart dependent data source). I'm really leaning toward SC now. I'm not sure if you are into backtesting, but if so, any noteworthy differences?
Have not tried backtesting in SC. But MC is excellent, I mean the platform has been focused solely on automation until just recently to give you an idea.
Just get trials for both and see what speaks to you. Both will work with any major broker and feed.
-> size of user base of Sierra Chart is limited, few 3rd party tools and development available
-> MultiCharts gives you access to TradeStation indicators and strategies
-> don't see that SierraChart has Portfolio Level Backtesting & Genetic Optimizer
I'm not so agree, SC has a lot of user (look how many guys are on support forum), and is growing and developing fast, has a lot of features, one of the best is the overlay functions etc, is small and fast. Support team is great.
Anyway i'm agree that a platform is a personal choise.
I believe SC does not offer options. I guess I assumed that it would. I like options, so I'm re-thinking this all again...
Thanks for that link. I will watch those videos later this evening. Bottom line, as you said, I need start playing with these! Maybe I should consider to keep using ToS for my options. Much to sleep on....
