1) Multicharts Lifetime License + IB vs 2) TradeStation

Discussion in 'Automated Trading' started by garchbrooks, Jan 18, 2010.

  1. Anyone have an opinion on this? Will I not save any real money on account of historical data fees if I go with option 1?
  2. tortoise


    Not a fan of IB, but a big fan of MC. Former TS user. Don't miss it at all.
  3. I've used both and TS is still quite far ahead in terms of ability.

    Last I checked TS has the following advantages:

    1. 2000 simultaneous real time symbol processing.

    2. One can auto-trade a 2000 stock portfolio on any time frame from RadarScreen.

    3. Off-the-shelf software is available to route orders to IB from TS thereby bypassing TS's fees.

    4. TS provides decent intraday historical data (25+ years worth).

    Overall, multicharts is a TS knock-off that has good integration to IB, but, MC lacks many of the advanced TS features that are IMO the most useful. The one advantage that MC has over TS is the portfolio testing ability, but, one can easily do portfolio testing in TS with a bit of minor programming. That and Amibroker blows both of these programs away for portfolio testing anyway. Amibroker is by far the best retail portfolio tester out there...

    Oh yeah, and TS is basically free if you trade 5000 shares a month through it. No brainer IMO, for the cost, MC just doesn't compete, yet.

  4. Got any recommendations for this? This is what I'm after, really. Something very, very reliable.
  5. Also not sure if anyone is interested in reviewing their old trades but if so, Multicharts has the ability to replay and set markers where you would’ve traded. You can select the date you would like to start your playback along with Min by Min or Day by Day Charts.

    This was also a very helpful new feature offered now in MultiCharts.

  6. Opinion? Yes, I do! :D
  7. Opinions are free and plentiful.
    It's a no-brainer. MultiCharts is my choice. Been using it for 2 years.
  8. A brain-free post indeed!
  9. DarthSidious, You are right indeed.

    I tend to agree with Donald Trump who said: "Nothing is free, but who wants Nothing?"

    The fact that company publicly traded is not a measure of performance, neither it impacts the quality of its products or services.
    Finally, public ownership is not a panacea by any means... unless the government is ready to bailout TRAD if it to go belly up, which I doubt.

    Do you have a crystal ball or something? If TRAD goes belly up, the employees loose their jobs, CEOs kept their bonuses, and the public who own shares take all the losses. Clients end-up with nothing. Kiss your money good-bye. Guaranteed. On the contrary as a MultiCharts user you would still have a product on hand. Guaranteed.

    You don't have to. As a MultiCharts user you choose your Datafeed, and the Broker. Also, in the long run the cost is less.
    It's a choice. And last, bay not least the MultiCharts outperforms TS in many aspects: the speed, better charting, support of multiple brokers and data feeds. It boils down to what is important to you. Everyone has their own reasons. MultiCharts too, has it's own quirks of course. But the advantages go a long way. Just look here: http://www.tssupport.com/multicharts/reasons/

    I don't work for MultiCharts, therefore don't know the details how DRM works. But I couldn't care less. All I know is: DRM is there to protect the product from free-riders who want to use it "free". I am glad it's there, because since introduction of DRM the developer added more features. As a life-time license owner I couldn't be happier. If DRM protects continued development of MultiCharts, and, as a consequence offers improvements to me over the period of time, then DRM protects my investment into the software, and it's the right thing for me.

    Well the above are my reasons. And I respect yours.

    #10     Apr 16, 2010