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Why do you use MultiCharts?


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  #21 (permalink)
 PaperTrader 
changi, singapore
 
Experience: None
Platform: Free
Posts: 105 since Aug 2011
Thanks Given: 126
Thanks Received: 21

1) How long have you been using MultiCharts?

Since early 2013

2) What are your favorite features of MultiCharts?

the charts,workspace,backtesting platform stability & their support (customer service) oh and free (multicharts starter edition) almost a perfect platform imo

3) What are some must-have deal breaker features in MultiCharts that you could not do without?

trading on Charts & Workspace

4) Do you use MultiCharts in simulation mode only, or do you place live trades with it?

both - trading live is free (2 symbols limited)

5) Are you a discretionary trader or an algorithmic trader? How does MultiCharts help you with this?

Both it helps me to look at the market from a different angle e.g built in market/volume profile (multicharts 8.5)

6) How easy/hard was it for you to learn to use MultiCharts?

neither... the charts are easy though

7) How do you rate MultiCharts's customer service/support, assuming you have needed to use it?

9/10 - they helped me with platform setup via teamviewer

8) Do you believe MultiCharts is competitively priced?

free (starter edition) how can you beat free?

9) How do you rate the community support that exists for MultiCharts?

not as good as ninjatrader's however i believe with the released of multicharts starter edition more traders will be using it in the future (depending on their marketing strategy - they made a huge marketing mistake here at futures.io (formerly BMT) and BM no longer want to associate himself with them. - it's non of my business though)



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  #22 (permalink)
 
mmandi's Avatar
 mmandi 
Philadelphia, PA
 
Experience: Intermediate
Platform: MultiCharts
Broker: Interactive Brokers/IQFeed
Trading: Futures: NG, CL, BP
Posts: 11 since Aug 2013
Thanks Given: 3
Thanks Received: 10

1) How long have you been using MultiCharts?

Since early 2013.

2) What are your favorite features of MultiCharts?

The charts (look and feel, number of chart types), the ability to create custom indicators and strategies, accuracy of link to broker information

3) What are some must-have deal breaker features in MultiCharts that you could not do without?

IQFeed data stream, multi-threading technology (allows for more charts and information when compared to thinkorswim)

4) Do you use MultiCharts in simulation mode only, or do you place live trades with it?

Live trades

5) Are you a discretionary trader or an algorithmic trader? How does MultiCharts help you with this?

Currently discretionary trader with plans to progress to algorithmic trading. MC helps with its DOM window and chart trading capabilities. My only "gripe" is that positions only appear in charts using IB data and not IQFeed data.

6) How easy/hard was it for you to learn to use MultiCharts?

Found it be very easy so far. Would like to expand my programming knowledge more which led me to futures.io (formerly BMT).

7) How do you rate MultiCharts's customer service/support, assuming you have needed to use it?

Haven't need it yet. Everything has worked smoothly to this point.

8) Do you believe MultiCharts is competitively priced?

Yes. For all the features it provides I'd say its a good investment. I believe in "you get what you pay for" so for the $1500 lifetime license fee I don't see an issue. Haven't researched the price of other trading platforms though. I must add that as a former thinkorswim user (which is free with a TD Ameritrade account) I am glad I paid for the license. TOS has its limits and thats probably because its free but you wind up paying for it with higher commissions.

9) How do you rate the community support that exists for MultiCharts?

I think that could be better and is one of the reasons I'm here at futures.io (formerly BMT). I reviewed TradeStation before making my platform choice and the community there seems more involved and active. Even though I wasn't able to access all the forums without a TradeStation account the forums seemed more detailed and numerous than what exists at MultiCharts. From what I've seen the community at MC is more focused on bug-fixing and support issues (which is fine) but I'd like to se more trading specific information posted there also. I think futures.io (formerly BMT) picks up the slack where the MultiCharts community leaves off.

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  #23 (permalink)
 
arnie's Avatar
 arnie 
Europe
 
Experience: Advanced
Platform: Jigsaw
Broker: Tradovate
Trading: Equities
Posts: 826 since May 2010
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Thanks Received: 1,048



Quoting 
5) Are you a discretionary trader or an algorithmic trader? How does MultiCharts help you with this?

Currently discretionary trader with plans to progress to algorithmic trading. MC helps with its DOM window and chart trading capabilities. My only "gripe" is that positions only appear in charts using IB data and not IQFeed data.

Actually, by mapping IQFeed symbol with IB symbol you're able to manage your IB positions on IQFeed charts.

If I become half a percent smarter each year, I'll be a genius by the time I die
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  #24 (permalink)
 
mmandi's Avatar
 mmandi 
Philadelphia, PA
 
Experience: Intermediate
Platform: MultiCharts
Broker: Interactive Brokers/IQFeed
Trading: Futures: NG, CL, BP
Posts: 11 since Aug 2013
Thanks Given: 3
Thanks Received: 10


arnie View Post
Actually, by mapping IQFeed symbol with IB symbol you're able to manage your IB positions on IQFeed charts.

I've only been using MC since early this year so I'll have to try that. I've tried placing both on the same chart and using invisible bars but that didn't work. The symbol mapping screen confused me a little bit. If you don't mind can you give me instructions on how to make that work... I'd be very appreciative! Thanks for replying to my post also.

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  #25 (permalink)
 
arnie's Avatar
 arnie 
Europe
 
Experience: Advanced
Platform: Jigsaw
Broker: Tradovate
Trading: Equities
Posts: 826 since May 2010
Thanks Given: 763
Thanks Received: 1,048


mmandi View Post
I've only been using MC since early this year so I'll have to try that. I've tried placing both on the same chart and using invisible bars but that didn't work. The symbol mapping screen confused me a little bit. If you don't mind can you give me instructions on how to make that work... I'd be very appreciative! Thanks for replying to my post also.


Here is the Wiki link:

Symbol Mapping - MultiCharts

Actually, how mapping is done nowadays is way better than it was in the beginning.
Very easy, very straight forward.

Set IQFeed symbol first and then the IB symbol for that IQFeed specific symbol.
You need to always use the symbol which you mapped.

For example, if you map the @ES# IQFeed symbol only this one will allow you to manage IB orders. If you choose @ES#C instead, you'll need to map this one also otherwise you'll not see any IB orders.

If I become half a percent smarter each year, I'll be a genius by the time I die
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  #26 (permalink)
 
waza1960's Avatar
 waza1960 
NSW Australia
 
Experience: Advanced
Platform: MT4/MT5/ Multicharts/Ninja Trader
Broker: gain
Trading: forex
Posts: 33 since May 2010
Thanks Given: 38
Thanks Received: 40

1) How long have you been using MultiCharts?

1 YEAR

2) What are your favorite features of MultiCharts?

Reliability of backtesting, ease of use with arbitrary data, multicore/multiprocessing support (especially for optimization), exceptional ease of going live with the very same code you've just tested.

3) What are some must-have deal breaker features in MultiCharts that you could not do without?

Same as listed in 2).

4) Do you use MultiCharts in simulation mode only, or do you place live trades with it?

Both

5) Are you a discretionary trader or an algorithmic trader? How does MultiCharts help you with this?

Both it is a good platform for both

6) How easy/hard was it for you to learn to use MultiCharts?

Easy

7) How do you rate MultiCharts's customer service/support, assuming you have needed to use it?


Excellent

8) Do you believe MultiCharts is competitively priced?

Yes especially since they have a free version to start with

9) How do you rate the community support that exists for MultiCharts?

Average

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  #27 (permalink)
boundless
Puerto Vallarta, Mexico
 
Posts: 13 since Mar 2014
Thanks Given: 11
Thanks Received: 4


arnie View Post
1) How long have you been using MultiCharts?

4 or 5 years, can't remember exactly. It was love at first sight.

2) What are your favorite features of MultiCharts?

Everything. Started with the charts themselves, than the programming, than the manual trading capabilities and DOM and now I'm waiting for the volume profile, cumulative delta, footprint charts, T&S, that are already promised. Basically the best platform ever.

3) What are some must-have deal breaker features in MultiCharts that you could not do without?

DOM, the perfect integration with IB. All works seamlessly.

4) Do you use MultiCharts in simulation mode only, or do you place live trades with it?

It's not only my chart platform but also my trading platform. I do trade live with it.

5) Are you a discretionary trader or an algorithmic trader? How does MultiCharts help you with this?

I'm a discretionary trader. A platform such as Multicharts is primarily directed to algorithmic traders due to it's program language that allow us to code all sort of algos but personally with its manual trading capabilities, through the DOM and the chart itself, Multicharts is now able to play both sides.

6) How easy/hard was it for you to learn to use MultiCharts?

Very easy. I worked with Tradestation a couple of months and that allowed me to get used to Multicharts quite fast.

7) How do you rate MultiCharts's customer service/support, assuming you have needed to use it?

Very good. Their live chat is really good in detecting problems and helping us when we have some bad configuration. Priceless. Their forum is also a very useful way to search for help but I confess that sometimes things could be a bit better on that end.

8) Do you believe MultiCharts is competitively priced?

As far as I know, they charge what has been considered the standard, between $1000 and $1500.


9) How do you rate the community support that exists for MultiCharts?
Most people on the forum are ready to help you. MC staff is also there, answering questions from users.

I have some questions about this as I am just getting into multicharts

#4: You said you use it as your trading platform connected to IB, right? It's my understanding that this is a subscription that you purchase through IB and costs about $39/month. Is that correct?

#8: I'm not sure why you said it costs between $1000 and $1500. I downloaded it for free through Interactive Brokers. Did you have to pay for it so many years back or am I only getting the demo version or something?

Thanks

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  #28 (permalink)
 
edassery's Avatar
 edassery 
chicago. IL , USA
 
Experience: Intermediate
Platform: IB
Trading: oil
Posts: 31 since Dec 2012
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boundless View Post
I have some questions about this as I am just getting into multicharts

#4: You said you use it as your trading platform connected to IB, right? It's my understanding that this is a subscription that you purchase through IB and costs about $39/month. Is that correct?


Thanks

1. you could use subscription method , pay $39/month through IB
2. you could purchase the license directly from multichart, for $1000-1500..
3. you could download the multichart.net starter edition free for live trading but restricted to 2 instrument at a time.
please visit multichart website for more details..

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  #29 (permalink)
 
arnie's Avatar
 arnie 
Europe
 
Experience: Advanced
Platform: Jigsaw
Broker: Tradovate
Trading: Equities
Posts: 826 since May 2010
Thanks Given: 763
Thanks Received: 1,048


boundless View Post
I have some questions about this as I am just getting into multicharts

#4: You said you use it as your trading platform connected to IB, right? It's my understanding that this is a subscription that you purchase through IB and costs about $39/month. Is that correct?

#8: I'm not sure why you said it costs between $1000 and $1500. I downloaded it for free through Interactive Brokers. Did you have to pay for it so many years back or am I only getting the demo version or something?

Thanks


I really can't speak regarding the monthly subscription. I had no idea that they had that option.

I bought a full licence because my monthly expenses are already too high so every thing I can do to lower it it's a plus for me. Also, on the long haul it's a lot cheaper to by a licence then to rent it.

Like @edassery said, you have now the .NET Starter version, totally free of charge. You have access to every thing on Multicharts, all the tools, all the studies, you can program whatever you want and trade live. The only restriction is that you are only able to have 2 symbols. If you need more than 2 than you need to purchase the full licence or apparently, pay $39/month through IB.

If I become half a percent smarter each year, I'll be a genius by the time I die
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  #30 (permalink)
 ABCTG   is a Vendor
 
Posts: 2,436 since Apr 2013
Thanks Given: 485
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To my understanding you can even use MC for free with IB, so long you don't want to trade through it. At least this is true for MC.NET via IB, the link below is not really clear if this works with the PowerLanguage MC, too.
https://www.interactivebrokers.com/en/?f=%2Fen%2Fsoftware%2FreleaseNotes%2FTWS_Notes_944.php

Regards,
ABCTG

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