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Are there any real issues with Multicharts that I should be aware of?
I'm impressed with Multicharts, and I really like EasyLanguage (probably since I've spent more time with Pascal and its derivatives than other languages.) It looks solid, and that's the way I'm leaning.
But it doesn't seem that popular, and I'm wondering what I'm missing. Why are the NinjaTrader discussions so much more prevalent than MC? Are there some major features that I (as a novice) am just missing, or is it all about personal preference and pricing?
Thanks.
Can you help answer these questions from other members on NexusFi?
NinjaTrader might be more popular at futures.io (formerly BMT), but I can assure you that Multicharts and Tradestation (which both use Easy Language) both are very popular, and will likely continue to be.
I've been using Tradestation for 10 years, and I have found no compelling reason to move everything to Ninja. All 3 software platforms have their good points and bad points. But, I think the key is to thoroughly learn whatever software package you choose.
I would say the popularity of a platform is (to some extend) connected to the price. If you can use it for free (like with Ninja in sim or with MT4) the hurdles for using a platform are a lot lower than if you have to pay for it.
I would suggest to go with what ever platform offers you the features you need and what feels best to you. In the end this is what matters the most and no one can really suggest anything there to you (as this is so subjective). You can trial almost any software upfront, so you can use it to come up with a decision.
I am with MC for over 9 years now and I don't regret having bought it and would do it again without hesitation.
I still use Tradestation. At the time I bought my first MC license it wasn't a fully featured platform, it didn't even have automated trading or backtesting at all. Back then one of the reasons was that the volume bars are different than in TS (split up at even volume numbers compared to TS not splitting up a trade) and the not existing European markets. Also the pricing at that time was almost the same than what I paid for TS in a month, so there wasn't much to think about.
I use both TS and Multicharts. I prefer Muticharts.
I find the the online community for easylanguage is very extensive.
I did not find this to be so with ninja trader. If you want to buy 3rd party add ons, then go with Ninja.
I am mostly involved with autotrading and find Multicharts to be perfect for me.
I have only run into performance issues when I try and test autotrade strategies on more than 25 charts. I wish I did not have to open a chart for every strategy.
Multicharts support is excellent in my view. You also get excellent support form other users like Kevindog and ABC.
Also, Ninja has become a brokerage now. To me, they are a brokerage with a proprietary platform now.
There are tons and tons of educational materials at Tradestation, which can be carried over to MC , since it is based on easylanguage as well.
Also, they address bugs and problems quite quickly.
The popularity of a given platform is directly attributed to it's marketing efforts and the dollar spend irrelevant of it's quality. Sadly I find that many choose one platform over another like a herd with little consideration that once they mature as traders they will need a little bit beyond what is offered now.
I see companies spend hundreds of thousands of dollars on ads, marketing, etc rather than just put the money back into it's own product and making it better. At the same time maybe they cant, because the original source code it was written on is junk, complex and does not allow the development necessary to make it better. So the only thing you can do is buy more ad space on Google to continue selling the same O'l.
In the case of MultiCharts, they have a group of programmer that thinks and understand what traders need.
They are extremely responsive to their community, and at the same time add features that are not just
"pretty" but rather pragmatical for traders. Consider their DOM, one of best out there for execution and/or automating you trades even if you are not a DOM trader.
I share your sentiment, MC is an investment worth considering.
Matt
Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
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