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I use ninjatrader, I find it can be quite slow, loading charts and changing chart timeframes. Also multicharts includes volume profile, you have to purchase an add-on with ninjatrader (or use one of the futures.io (formerly BMT) ones, but it relies on your tick data). Main reason I use it is because of the Jigsaw add-on, currently unavailable on MC but its getting worked on. NT8 is going to be multi threaded so this should solve performance issues. So if choosing between MC and NT and both have jigsaw, Id go with MC because of faster performance and you get volume profile included.
Understanding yourself is just as important as understanding markets.
Hi,
In what sense are MC innovative?
Innovation to me means that something wasn't there on the market before.
What features of MC were not on the market before?
I don't look at all possible platforms, options and new features out there, I only compare a handful of them, or even less ... and most importantly, I'm looking at platforms accessible to me, and that I feel comfortable to work with.
But if you have a broader view and more experience, it would be good if you'd share some of it here with us.
Unfortunatelly jigsaw will not be compatible con standard multicharts, only NET version, it's a pity, from what i've understood volume profile/footprint part it's more advanced on NEt version than powerlanguage one
Disagree completely with your entusiashm for Multicharts.
In terms of performance in loading charts / multithreading, NT8 will completely close the gap.
I find Multicharts very slow in closing gaps with its competition. Although they have more releases than NT, that doesn't make it a better platform overall. They both have their pluses & minuses.
I have no interest in promoting either of the two, but I believe several poorly made decisions, are worth mentioning below for MC:
1 - Useless (for me at least) Volume Profile (unflexible and poor design).
2 - Lack of free EOD good quality futures data (something like Kinetics for NT)
3 - Plain USELESS Walk-Forward-Optimization. You don't get the aggregate Out Of Sample statistics that are of interet to you.
4 - Monte Carlo - missing. MC's PM seems to plainly ignore any hint that this would be a good feature. Their miss.
First & 3rd should be deleted from the product and re-designed from the ground up.
I'm not saying that NT has a definite edge in 1 & 3 above points, but NT has following:
1 - Built-in Volume profile lacking.
2 - Kinetick fills the gap
3 - You do get aggregate OOS stats for Walk-Forward. Great feature.
4 - However, they just missed a great score by NOT making it possible to run Monte-Carlo only on the Out-Of-Sample intervals.
For 4, AmiBroker has the edge - it automatically shows you MonteCarlo on OOS. I would also add AmiBroker does seem to be the fastest of them all. But they're just lacking in so many other aspects (like quality, stability, free good EOD for futures, plain inflexibility - it either does it (what you want) or you're screaming alone to the moon).
The points you bring up are not really relevant to us and how we trade.
The ability to have multiple data connections and broker/FCM connections open and the ability to place trades on them is the most important point for us.
The charting interface in MC is not as pretty as NT, but that really doesn't matter.
And the biggest selling point ? Not being locked in to NT Brokerage in order to use the software.
I can't support a company that stabbed every IB & FCM that helped them build their business in the back.
Maybe MC is not for you, but please consider that the features you mentioned are nice, not essential. EOD Data? what do you do with that? paper trade haven for those fascinated with the markets?
There are more practical ways to learn platforms and markets and in my opinion you need real time data to do that.
Monte Carlo, yes, nice to have, but I can count on one hand the number of times it was request by those who actually trade.
As for their development: MC releases their changes incrementally, slowly, and guess what, it works.
I said it again, and again, MC attracts a different time of trader.
It's a stable piece of engineering, great interface and their users are technically savvy and most do not need hand holding. Its refreshing to find a clientele that knows how to figure out things on their own.
They are a pleasure to deal with.
Thanks,
Matt
Optimus Futures
There is a risk of loss in futures trading. Past performance is not indicative of future results.
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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