I'm running 6.0 beta 2 (the latest available as of this post).
MultiCharts is the same cost as NinjaTrader, at roughly $100/mo or $1500 for a lifetime license.
There are two major differences between MultiCharts 6 and NinjaTrader 7. First, MC does not have a DOM. No manual order entry. It does support automated strategies and executions, but for discretionary traders you'll have to rely on an external platform for order execution. Version 7 of MC should correct this. Second, MC 6 indicators are built on the EasyLanguage platform, whereas NinjaTrader uses C#.
For me, if I do end up switching to MC I will keep NinjaTrader open just for my DOM and minimize everything else, and rely on MC for charting. It's the charting in NT that is causing me so much grief lately. It also means I have to convert a handful of my favorite indicators from C# to EasyLanguage. I've started working on that.
The list of other differences between the two platforms is extremely long, but I have to make a few general observations.
Advantages:
- MC's interface seems very polished when compared to NT's
- MC is incredibly quicker, far far faster than NT. And remember, I have a powerhouse of a system (Core i7 overclocked to 4ghz, 12GB ram, RAID 0 drives w/hardware raid) so this speed improvement with MC is due to better design.
- MC handles multiple dataseries (multiple time frames) with ease. It's second nature. There is nothing to it. IT JUST WORKS. With NT7, it does everything but work.
- MC has its Quote Manager separated from the primary charting application. This means an easy to use "module", if you will, to manage everything to do with quotes/streaming data. It was a breeze to setup IQfeed continuous contracts and to tell MC6 to cache the data locally, as well as to define session templates (trading hours).
Disadvantages:
- My favorite indicators have to be re-written from scratch. C# is far more powerful than EasyLanguage, so the hobbyist in me, the one seeking an automated strategy that trades while I guzzle cocktails on the beach, well he'll be sticking with NT for that development.
- No DOM. Yikes! No more to say. You can't trade with MC alone if you are a discretionary trader. Huge, huge disadvantage. But rumor has it, MC7 will fix that oversight and is only a few months away. The question becomes: will we get a v1.0 DOM, or will we get a v7.0 DOM (how good will it be?). Sure, it isn't a huge inconvenience for existing NT users to just have a DOM-only open and trade MC charts, but for new deployments it would really suck, and besides, I want a better DOM than what NT offers and my hopes are that MC will deliver one.
Tie:
- Community support. MultiCharts can piggy back on the TradeStation community, since the majority of all TradeStation indicators work in MultiCharts without modification. NinjaTrader has an huge community as well though, and while in shear numbers it isn't as large as the EasyLanguage community, the community makes up for size with quality.
I'm just getting started, so I'll post more soon.
Mike
Need help? 1) Stop changing things. No new indicators. No new charts. No new methods. Be consistent with what is in front of you first. 2) Start a journal and post to it every day with the trades you made. It will show your strengths and weaknesses. 3) Set goals for yourself that you can reach every day. Make them about how you trade, and not about how much money you make. 4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance. You must look within. 5) Have a question? Create a new thread so the community can help.
If you want to support our community, become an Elite Member.
The following 5 users say Thank You to Big Mike for this post:
This is the an example of how we like to use the Quick Summary (the second post in every thread) in the future!
All attachements are collected here as "permalinks" to the post they are putted in.
so if a new indicator or template is added in the thread - please try to add a link in the Quick Summary-section.
This way everyone should be able to find the needed / related indicators + files superfast.
This should be a big help for all users. Thanks for helping - max-td
Quick Summary is created and edited by users like you... Add FAQ's, Links and other Relevant Information by clicking the edit button in the lower right hand corner of this message.
Indicators:
To be added later
Templates:
To be added later
Last edited by ZTR; June 16th, 2010 at 04:25 PM.
Reason: Used Max-td's Template
It seems the MC engineers are actually good programmers. Look at their prior release schedules:
OMG it's truly amazing. If you are as crazy or obsessed about software/engineering as me, then it almost gives you a naughty feeling just looking at that.
In less than 2 years, they've release 3 major upgrades and several minor ones. Hell, NT7 was promised two years ago and it still isn't out!
Someone else mentioned lack of community and momentum for Neoticker and I think that is a genuine concern. The MC forums pretty much suck, very disorganized and no easy way to share stuff (unlike here on BMT ), but there is a huge community already out there of EasyLanguage indicators.
And as for momentum, all you have to do is look at the above release schedule, and it's easy to see they've got a lot of momentum.
Mike
Need help? 1) Stop changing things. No new indicators. No new charts. No new methods. Be consistent with what is in front of you first. 2) Start a journal and post to it every day with the trades you made. It will show your strengths and weaknesses. 3) Set goals for yourself that you can reach every day. Make them about how you trade, and not about how much money you make. 4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance. You must look within. 5) Have a question? Create a new thread so the community can help.
If you want to support our community, become an Elite Member.
Why don't you go back to NT 6.5 Better the devil you know..............
Yup very true, except NT 6.5 had its own set of problems -- everything to do with the database -- it was causing me trouble nonstop. And I really need to overlay MTF on a single chart for my current setup.
Mike
Need help? 1) Stop changing things. No new indicators. No new charts. No new methods. Be consistent with what is in front of you first. 2) Start a journal and post to it every day with the trades you made. It will show your strengths and weaknesses. 3) Set goals for yourself that you can reach every day. Make them about how you trade, and not about how much money you make. 4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance. You must look within. 5) Have a question? Create a new thread so the community can help.
If you want to support our community, become an Elite Member.
Yup very true, except NT 6.5 had its own set of problems -- everything to do with the database -- it was causing me trouble nonstop. And I really need to overlay MTF on a single chart for my current setup.
Mike
Mike, are you sure you won't change your trading setup in a month time.
My point is: is it really worth the effort moving from one set of problems to another?
Mike, are you sure you won't change your trading setup in a month time.
My point is: is it really worth the effort moving from one set of problems to another?
My setup has been more or less the same for many months. Any small changes I make are not necessary, just from boredom.
I'm not saying MultiCharts is going to solve my problems, but I would certainly rather give my money to developers who deserve it, and to use a platform that is actually improving instead of worsening.
I'm also not saying that switching to MultiCharts doesn't have a sense of excitement and is part of the reason of wanting to do it. But, if the platform continues to impress me, then I feel more comfortable moving away from a company who doesn't listen to customers, can't fix bugs, and can't release products on time to one that does.
I've not switched yet And I may not. Time will tell.
Mike
Need help? 1) Stop changing things. No new indicators. No new charts. No new methods. Be consistent with what is in front of you first. 2) Start a journal and post to it every day with the trades you made. It will show your strengths and weaknesses. 3) Set goals for yourself that you can reach every day. Make them about how you trade, and not about how much money you make. 4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance. You must look within. 5) Have a question? Create a new thread so the community can help.
If you want to support our community, become an Elite Member.
agree Mike,
I have been a fan of MC for some time, primarily their gui as you can keep as many as workspaces open and you can have 4-6 charts in each workspace. It is ONE icon in taskbar, but Ninja will spit charts all over and see many stuff in taskbar.
yes, MC handling multiple dataseries and multiple time frames is nice and they are adding zen fire recently.
), but there is a huge community already out there of EasyLanguage indicators.
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