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Hello,
my question regards to using TOS for Charting the E-minis.
I am a TOS customer so i can use it´s charts but i trade in my IB account.
Comparing with Motivewave, Ninja, Sierra, Quantower TOS does not offer order flow tools but Renko Charts. Is TOS charting sufficent for an effective Future Trading, or are the other ones to prefer? For me it´s a disandvantage using TOS for Charting and using IB for placing the trades.
Best wishes for the year
Can you help answer these questions from other members on NexusFi?
I'd say it depends on your trading style.
If you're going to trade using 2 moving average and candlestick charts then TOS is more than enough.
But if you want to get into Order Flow, DOM, Tape Reading then you should use a different platform. I've been using Sierra for years and have tried a few of the others, I'd also recommend jigsaw. Both are great for OF and Sierra is incredibly customizable.
The tough thing for most TOS users when looking into other platforms is that now you need to pay for a few things out of pocket every month (platform, data).
for me order flow is a must for trading futures, using tos for big picture stuff would be fine but when you need to dial in your entries on a smaller timeframe you need order flow. I have tried bookmap, ninjatrader, jigsaw, & sierra charts and I would say all you really need is sierra charts. It offers big picture charts, order flow tools, doesn’t cost $2000 like bookmap, is stable and fast unlike ninjatrader which crashes all the time. haven’t tried motivewave so can’t comment there but I think to be long term profitable you need order flow so your eventually going to have to use something else.
I've been trading without order flow tools on TOS for 13 years. Is it sufficient for futures traders? Absolutely but if you trade using order flow it's not going to be your best option.
