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When I started daytrading I was scared that I was going to read a post like this. I have from day 1 looked at CQG.
Thanks for this post. I think many of us needed a wake up call. A $1000 NT lifetime license program and free datafeed from our broker isn't going to put us ahead of guys like you who have an infrastructure of $70.000 a year. What the hell are we thinking ?
How would you feel if you had to move to NT and trade on a free datafeed from zenfire and earn a living ? Would you start with it ? Or would you feel you would miss part of your 'edge ahead' ?
You don't need to pay $70.000 a year to be profitable....If u haven't develop your edge you can use all the platform u want. but this don't make u profitable for sure.
P.s. A prop firm or investiment bank do not trade like a retail day trader, but have a big instruments portfolio to follow, and many of them use a prop developed platform direct connect to the exchange with colocate servers.
If your goal is managing a fund with complex arbitrage, hedging, and risk management then sure you need an complex infrastructure (way beyond NT, Multicharts etc).
If you goal is to be a HFT scalper, then you would n't use any of that stuff and instead would right your assembler based system for lowest latency.
I am consistently profitable using NT 7 on futures markets, using proven setups on 5 to 15 min timeframes with no indicators (except volume and pivot/key S/R). I have also built complex research and backtesting systems on this to support my views/setups heading into each day - no issues at all aside from the normal "inconveniences" that come with the platform (all platforms have their own set of inconvenience issues).
This though process reminds me so much of the " if I only had a better indicator or 3, I would always profitable.....". We all know (or should know) that it is a search to nowhere.
Today I used NT 6.5. again for the first time after 4 weeks, because somebody wanted some information on an old NinjaTrader indicator. Upgraded to NT 6.5.1000.18
(1) Within 20 minutes I had 6 crashes on data loading, had to rebuild the workspace and lost DOM settings (why does NT 6.5. change the DOM settings after each crash?). Crash means: NT locked, need to use the Windows Task Manager to close it.
(2) Merging data did not work. Impossible to merge DX contracts.
(3) False data displayed and holes on my charts.
(4) Permanent triggering of IB data throttling.
This software is such a crap and I cannot believe now, that I have used that for over a year. In combination with Interactive Brokers it is really the worst software ever!
No crash so far with MultiCharts on data loading. NT7 also handles data loading in a satisfactory way.
Had u uninstall the prev. version before upgrade?
I upgrade to 18 too, had not problem, only today 1 time it told was unable to load historical data, solved simple reload historical data from chart, but when I upgrade I always uninstall the prev. version to skip some possible problem. Anyway I find NT7 beta 22 far better in everything.
Of course I had uninstalled the previous version. I am a NT installation expert - not by vocation but by forced experience. The problem is that NT 6.5. will not load data if I have a workspace with different instruments. So I first have to set them all to the same instrument, then I need to save the settings, shut down NT and restart. Now loading is possible. Without the shutdown and restart after setting the charts to the same instrument NT will crash. Once connected, I can change the instruments of the charts one by one. Specific problem with Interactive Brokers data feed. But again this is history.
I have not this problem with prev version too, my workspace load with different instruments also if I have other workspaces open. Maybe is an IB problem?
Yes, there are specific IB problems, as NT 6.5 cannot handle the IB API correctly:
-> crashes on data loading
-> depending on local time zone and instrument loads false daily data
-> executes various futures in the wrong contract month (including CL, NG, GO, BC, GOIL, SB)
-> displays false volume spikes
-> sometimes displays an entry price of zero on the chart trader compressing the chart and making it useless
etc.
NT 6.5. with Interactive Brokers is a desaster. I have written this before. The first and third point have been addressed with NT 7.0. The second point is now irrelevant because I can use the higher quality Kinetick EOD data feed. The forth and fifth problem persist with NT 7.0, but this only occurs occasionally.