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Multicharts is not a standalone platform, meaning they host a number of fcm's, I would go tradestation for everything you need a platform for. The only thing is tradestations customer service is garbage. And I mean garbage. Gooduck.
And also fumanchou makes a great point, TS server is not very good and there are a lot of things they dont tell you that will severely effect your backtesting like only buying at next open stop and deleting your local TSCache file every week. I became very proficient in easylanguage and every single indicator I've written and included functions copy, paste, compile and display in multicharts the exact same.
If only we could get Dave to build Multiopt/Autowalk for Multicharts.
Kevin How do you find MC portfolio backtester? I assume it can do all the usual multi market, multi timeframe testing. I dont suppose fixed variables is a function (like Autowalk)?
Also, does powerlanguage provide similar toolbox capabilities (ie: PriceSeriesProvider) like easylanguage?
Hi SHadowFox, Im trying to get a good understanding of MC's Portfolio trader as i think i may get a lifetime license.
Heres what i have determined so far.
- multiple market, multiple timeframe backtesting, walk forward and monte carlo (including a good range of additional options: eg: multiple fitness function analysis ect).
- can actually do portfolio trading (TS's Portfolio maestro is just a backtesting tool)
- additional risk/capital management tools.
Questions:
-How many additional data series can you add in (data2, data3, etc)?
- can you use fixed inputs in the backtesting (this mean you lock one input, iterate through the rest of the input optimisations, then step forward the fixed input). Very handy for testing multiple entries and exist in the single code.
- does MC support a similar function to TS's PriceSeriesProvider?
- what (if any) other functionality does MC portfolio treader have that is good?
@rolandw85 , I will try to answer what I can, as I use MC's portfolio trader a lot.
10.
Only Data1 is used for trading signals, as in TradeStation.
No, but you can probably do that in your code if you are savvy enough (I have done similar things in TS EasyLanguage).
I never used this in TS, but data availability is pretty robust across different timeframes. I suppose it depends on what you are using PriceSeriesProvider for. You can ask someone at MC directly or pop into their forum if you can get access. I have found them to be very responsive.
I find the tool limited in a lot of respects. You can have multiple signals (strategies), but you cannot assign symbols to signals, which is what I would use it for (as such, I just have multiple portfolios, one for each signal/system/strategy). Optimization is 'all-or-nothing', meaning you optimize the portfolio, not individual symbols.
One of the features I really like is the performance report. It is nearly identical the one in the main application (Portfolio Trader is a stand-alone application), but you drill down into individual symbols to get the performance report for each symbol.
Another feature that I like is that there are no charts. I like just the data and results.
The Walk-Forward feature is very good and follows best practices for optimization and walk-forward analysis.
Compared to TradeStation, Multicharts is, on the whole, much faster. I do optimizations in seconds or minutes, compared to similar optimizations in TS that would take minutes to hours (or days).
I would like to have something like Dave Fisher's MultiOpt tool (I have a license, but cannot use as I am not a TS customer any longer), but I find MC is working great for me.
Hello all! I am starting a new journal and shutting down my old journal. My old journal was focused on the Dow e-mini, which was really too narrow as I will trade anything that is profitable (magic beans, anyone?)
I decided to theme this journal around …
I try to update weekly and I am using Portfolio Trader to manage several hypothetical and real portfolios.
I think you mean MultiCharts is not a turnkey solution (all-in-one), as it is definitely stand-alone. Depending on where in the world you are trading, TS is not a solution for everyone. TS provides a low barrier to entry, but there comes a cost. I have had platform issues, customer service issues, and billing issues, all of which have cost us time and money. These issues were not resolved prior to closing our accounts and moving to new brokers.
Having migrated from the TS ecosystem to MC, there are pain points, but IB with MultiCharts is a very good option for futures, and OANDA with MultiCharts is good for forex, in my experience.