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Anyone switch from TradeStation to MultiCharts?


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Anyone switch from TradeStation to MultiCharts?

  #11 (permalink)
 Hemmo 
Newcastle, NSW, Australia
 
Experience: Intermediate
Platform: MC, TS, SQX, Build Alpha
Broker: IB, TS, OANDA
Trading: CFDs, Futures
Posts: 34 since Sep 2017
Thanks Given: 64
Thanks Received: 38

I found the MultiCharts free trial to be an excellent way to take a look at the platform.
The tech support team were very helpful in quickly getting me up and running with RT automated trades on an OANDA Demo account.
I had previously invested time, energy and money in eSignal and the associated scripts, so I was very cautious about doing it all again with a different platform. The MC team had no hesitation in extending the initial trial period for me to further evaluate the software.
As mentioned in the earlier posts, there are sale prices from to time. Any significant holiday in the US seems to be the trigger for the promotional pricing.
Like eSignal, you can choose from a variety of brokers and data providers.

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  #12 (permalink)
Etisan
London UK
 
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kevinkdog View Post
Having a backup plan is a good idea. I own MC and it is my backup plan if something ever happens to Tradestation. For now, I use Tradestation data to feed MC.

If you have to go to another data provider, there is that additional cost.

I also have a 2nd Tradestation login, with delayed data, on a separate PC to run more "exotic" testing and analysis.

There are generally $250 discounts floating around for MC (I used a $500 one when I bought, but that was a rare deal).

MC also offer 30 day free demo. Try it out, see what you think.


How do you/anyone find using Tradestation data into Multicharts works from a Multicharts persepctive? Any delays, freezes, missing data?

I was a Tradestation user about 10+ years ago before switching to Multicharts(+Rithmic) & now I'm thinking of going back to Tradestation as my main providor whilst keeping Multicharts as backup using Tradestation data.

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  #13 (permalink)
 kevinkdog   is a Vendor
 
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Etisan View Post
How do you/anyone find using Tradestation data into Multicharts works from a Multicharts persepctive? Any delays, freezes, missing data?

I was a Tradestation user about 10+ years ago before switching to Multicharts(+Rithmic) & now I'm thinking of going back to Tradestation as my main providor whilst keeping Multicharts as backup using Tradestation data.

I have never used MC for live trading, only backtesting with TS data.

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  #14 (permalink)
 jokertrader 
NYC, NY
 
Experience: Intermediate
Platform: Sierra, TT
Broker: N/A
Trading: Spread Researcher and crypto degen
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I too would be interested on quality and stability of TradeStation data as compared to Rithmic or CQG or TT


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  #15 (permalink)
 jwwjcw 
Washington DC
 
Experience: Intermediate
Platform: TradeStation
Trading: EC
Posts: 9 since Sep 2012
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I'm moving to Vancouver, BC in early 2021 (Covid permitting) and currently have a TradeStation account. I will become a permanent resident at some point. I was planning on keeping my address in the US. I'm now wondering how all that will work... Does anyone know who to contact at the Canadian CSA?

I have used MultiCharts in the past and will likely look to that as a solution should I be forced to give up TradeStation. I didn't care for the way they handled symbols but I've been spoiled by TradeStation. I did get good support when needed.

J

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  #16 (permalink)
 edgefirst 
Las Cruces, NM
 
Experience: Advanced
Platform: Tradestation, MC, NT
Broker: TradeStation, IB
Trading: Liquid futures contracts
Posts: 56 since Sep 2009
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vmodus View Post
I am wondering if anyone has made the switch from TradeStation to MultiCharts as their charting and trading platform and can offer their thoughts. I am strongly considering it for several reasons. Here is what use TradeStation for:
  1. Analysis
  2. Custom indicators
  3. Trade automation/algorithmic trading using custom strategies
  4. Back-testing, walk-forward optimization
If you can share any of your experiences and importantly, would you recommend a switch, I would greatly appreciate it!

~vmodus

I have both and I use them for different purposes:
TradeStation: live trading (they are a one-stop shop so if anything happens there is no other party to blame); historical data (minute bars)

MultiCharts: faster in backtesting and optimization than TradeStation once the data is imported (connecting to TradeStation for historical data can be slow); portfolio backtesting and portfolio trading (not possible with TradeStation)

So if you are looking for a switch, what are the features that you feel are lacking or missing in TradeStation?

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  #17 (permalink)
 
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 vmodus 
Somewhere, Delaware, USA
 
Experience: Intermediate
Platform: MultiCharts
Broker: Barchart.com
Trading: Everything, it all tastes like chicken
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edgefirst View Post
I have both and I use them for different purposes:
TradeStation: live trading (they are a one-stop shop so if anything happens there is no other party to blame); historical data (minute bars)

MultiCharts: faster in backtesting and optimization than TradeStation once the data is imported (connecting to TradeStation for historical data can be slow); portfolio backtesting and portfolio trading (not possible with TradeStation)

So if you are looking for a switch, what are the features that you feel are lacking or missing in TradeStation?

Thanks! Wow, this was an old post. I purchased two MC licenses in the spring and have been using MC for forex trading and backtesting using my TS data. It has been a dream to work with. The big feature for me is the built-in Monte Carlo analysis. I try to build strategies without optimizable parameters, but the backtest engine, given that it is running in 64-bit, is incredibly fast, magnitudes faster than TS.

There are a few custom indicators and strategies that did not migrate from EasyLanguage to PowerLanguage, but I've been able to adapt them.

~vmodus

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  #18 (permalink)
 Jemo 
FLorida / USA
 
Experience: Intermediate
Platform: TS, MC, NT
Broker: TS, TOS, IBKR, TastyWorks
Trading: Index, Commodities, Currencies
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vmodus View Post
Thanks! Wow, this was an old post. I purchased two MC licenses in the spring and have been using MC for forex trading and backtesting using my TS data. It has been a dream to work with. The big feature for me is the built-in Monte Carlo analysis. I try to build strategies without optimizable parameters, but the backtest engine, given that it is running in 64-bit, is incredibly fast, magnitudes faster than TS.

There are a few custom indicators and strategies that did not migrate from EasyLanguage to PowerLanguage, but I've been able to adapt them.


I just purchased MC license. What is the best way of learning how to transfer my TS code to MC and run backtesting and MC analysis? I am excited that MC is 64 bits and wont have the headaches that TS does.

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  #19 (permalink)
 
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 SBtrader82   is a Vendor
 
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vmodus View Post
Thanks! Wow, this was an old post. I purchased two MC licenses in the spring and have been using MC for forex trading and backtesting using my TS data. It has been a dream to work with. The big feature for me is the built-in Monte Carlo analysis. I try to build strategies without optimizable parameters, but the backtest engine, given that it is running in 64-bit, is incredibly fast, magnitudes faster than TS.

There are a few custom indicators and strategies that did not migrate from EasyLanguage to PowerLanguage, but I've been able to adapt them.

I just stumbled upon this thread, can you guys clarify a doubt? Is Multichart mainly interesting to develop trading system? is this the main reason why people are using multichart?
I just tried it once and I didn't like it at all but I had the feeling that I didn't reallly understand it. I am a completely discretionary trader using motivewave and Sierrachart.
Thanks for any answer.

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  #20 (permalink)
 
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 vmodus 
Somewhere, Delaware, USA
 
Experience: Intermediate
Platform: MultiCharts
Broker: Barchart.com
Trading: Everything, it all tastes like chicken
Posts: 1,271 since Feb 2017
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Jemo View Post
I just purchased MC license. What is the best way of learning how to transfer my TS code to MC and run backtesting and MC analysis? I am excited that MC is 64 bits and wont have the headaches that TS does.

Hey @Jemo , the best way is to learn by doing, IMHO. Copy and paste the code and see if it compiles.
  1. Open TradeStation Development Environment
  2. Open PowerLanguage Editor
  3. Open your indicator or strategy in TS
  4. Create a new indicator or 'signal' (strategy) in MC
  5. Copy the code in TS
  6. Paste the code in MC
  7. Compile (F3 key) to code [note: always use 'Fast Execution' as the compile option]
Hopefully it compiles without error.

Potential problem:

Error due to missing custom function(s)

Solution:
  1. Identify the missing function and open it in TS Dev Environment
  2. Create a new function in MC
  3. Copy (from TS) and paste the function code into MC
  4. Compile
I have had a few things not compile properly, but they were some more advanced things I was working on. All-in-all, about 98% of my code is compatible, but I have a lot of custom code. If you are using OOEL, you are out of luck. If you are using ADE, GlobalVariable (GV) or EL Collections, you will need to install the appropriate packages (see MultiCharts forums for details).

As far as learning how to do backtesting and the rest? I just kind of jump in and start doing it. If you can do it in TS, you can do it in MC, just a little different. If you come across any tutorials for backtesting and optimization, let me know.

~vmodus

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Last Updated on August 14, 2022


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