Introducing FREE MultiCharts .NET Starter Edition

Quote from hftvol:

because I can guarantee you that you will lose money over time if you believe you can be net profitable looking at one single asset. The market is highly integrated, correlated and sometimes currencies lead, sometimes bonds, sometimes cash equity, sometimes news hit markets in Europe and carry over to US markets, sometimes it is Asia, sometimes the US. If you honestly believe you or any algorithm or any bank or hedge fund trader can limit him/it-self to one single symbol and decipher market dynamics then you must be a genius. I have never come across such genius in my over dozen years as professional trader. Do you honestly want to listen to charting software salesmen? If they knew about financial markets and knew how to extract value trading rather than selling software do you really think they would pay a bundle to advertise their software here? Think about it for a second and draw your own conclusions. If you tell me you only looked at one symbol and traded in that way for more than 3 years and every month were net profitable then I draw my hat and bow in reverence. I doubt, however, that this is even remotely close to the fact.

Think for a moment why bank traders shell out thousands of dollars in high quality data feeds, multi market real-time data subscriptions, even if they only trade one single asset (such as a JGB futures and options trader). Why are some people so limited in logic and intellect that I am afraid they will not even follow this kind of reasoning? Of course you may be lucky and have been profitable over a short period of time but again if you had applied your claimed approach over 3 or more years and had been profitable each and every single month then we can talk again. Otherwise you should maybe first overthink your whole approach and thought process.
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hftvol

thanks for the candid opinion.. i have no intention switching to MC with the 2 symbol limit but was just asking if me/someone is trading only one instrument, then MC may be useful to place trades provided they have other software to look at other instruments.

as to why i trade only one single instrument - many reasons for that.

1. watching/trading a single instrument helps me get a feel of short term price moves.
2. i dont want to run a scan on 4000 stocks daily and pick the ones that are in play for the day.. i simply don't know their historical movement patters to put my money on them. plus trading SPY/ES is a way to trade all of their individual components right?
3.i am an individual trader with limited capital so it doesn't matter which instrument i use to extract my profit.. i can't possibly trade all the asset classes
4. i know all the markets are interrelated but unless i have a tradable plan based on these relationships why would i even waste time in looking at all of them..sure i look at them enough to get a feel for whats happening but thats more than enough
5.would you say the same to folks who trade only the ES or NQ or CL?
6. i am no where close to being profitable... thats why i am choosing 100 shares of SPY to begin with and if i can prove to myself that i can trade, then move on to bigger lot sizes of SPY or trade the ES.

fyi..i'm not arguing my approach is right but this is what i could come up with by learning to trade the markets sitting in a box..
 
I have a question

Is the 2 ticker limit only for live trading or also for backtesting? Could I backtest strategies involving 100 stocks? How about running a scan on those stocks at the end of the day (so no live trading).
 
Quote from mspkash1:
...as to why i trade only one single instrument - many reasons for that.

1. watching/trading a single instrument helps me get a feel of short term price moves.
2. i dont want to run a scan on 4000 stocks daily and pick the ones that are in play for the day.. i simply don't know their historical movement patters to put my money on them. plus trading SPY/ES is a way to trade all of their individual components right?
3.i am an individual trader with limited capital so it doesn't matter which instrument i use to extract my profit.. i can't possibly trade all the asset classes
4. i know all the markets are interrelated but unless i have a tradable plan based on these relationships why would i even waste time in looking at all of them..sure i look at them enough to get a feel for whats happening but thats more than enough
5.would you say the same to folks who trade only the ES or NQ or CL?
6. i am no where close to being profitable... thats why i am choosing 100 shares of SPY to begin with and if i can prove to myself that i can trade, then move on to bigger lot sizes of SPY or trade the ES.

fyi..i'm not arguing my approach is right but this is what i could come up with by learning to trade the markets sitting in a box.. [/B]
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Hello mspkash1,

You are right on track. As a starter following the ES while trading the SPY is a sound solution just as one who would like to follow a CME currency while he or she could trade a spot fx micro account. When you know your stuff and have everything in place you could then start trading the ES or add another market. If you would like or need to that is. There are professional traders who are trading just one market, like the ES. If MC.NET SE is covering your current needs things are just fine.

Wish you the best of luck,
Laurus
 
Quote from Gueco:


Is the 2 ticker limit only for live trading or also for backtesting? Could I backtest strategies involving 100 stocks? How about running a scan on those stocks at the end of the day (so no live trading).
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As can only have two symbols in the database at any moment, I doubt that this is possible. You would need to have all 100 stocks in your database to perform the backtesting involving 100 stocks.
 
Quote from ofthomas:

correct, download and test it... no sense on posting to ask what you could have found out on your own.
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Thanks. I may download it one of these days. But why download something that you may find useless. It's better to ask first.
 
Quote from gmst:


Regarding stunning reveiws. It is very hard to get a reasonable review for any product imo. There are various reasons for it:

1) Most of the customers who have bought a product will always be careful in criticizing the product - since in a way they are criticizing their own decisions since they bought the product and who wants to be proven wrong (who wants to experience cognitive dissonance).

2) Most of the customers in this business are amateurs, people who are trying to become profitable. For this set of people, it is hard to really understand what a super-good product can do for them. E.g. someone who has never used a dom, might find it hard to understand the specifics of a good dom.

3) For most people, it takes time to really understand the limitations of a product. Only when you start coding hard and complex things, do you start discovering limiations of easylanguage etc.

4) Most of these software vendors (MC, Ninja, Amibroker etc.) are sponsors on most of trading forums. So, to expect forum owners to allow uninterrupted criticism is to expect too much.

5) Till last year, MC was enough for all my needs. But now I have outgrown MC and I am having to create a lot of infrastructure for my own use.
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Good points regarding reviews. I pay only very cursory attention to reviews of trading products.

And totally disregard anything what is said about such products on the Big Mike Trading forum. Or even go contrarian.
 
MultiCharts .NET Starter Edition (MCSE) was created to be something completely different from existing products in the market. There is no sense in replicating something that exists already, since that doesn’t add any value to traders – they’ll simply have a choice of two of the same thing. MultiCharts .NET SE is a unique product that lets you trade live without paying for a platform.

Obviously, platforms without limitations cannot be given away for free, otherwise trading software companies would cease to exist. We generate revenues from selling licenses, which enables us to support users and continue bringing you new features. Some companies choose to limit trading, or they make you trade to get a free platform – we give you 2 symbols to play with and trade to your heart’s content.

We conducted market analysis, surveyed a number of traders (both professional and non-professional) and found a great demand for a free platform with live trading capabilities. Main feeling among surveyed traders was that “no matter how much you sim trade, real trading is a whole different world”. Some compared it to driving a car – sim trading is like using a car simulator. It can be very good, but it’s still not real driving. Live trading is like actually turning the car on and getting on a busy street. To continue the analogy, MCSE is like a roadster – while you can’t fit your entire family of instruments, you get power and speed for your two symbols from start to finish.

Regarding MultiCharts Discretionary Trader (MCDT), our first free product (discontinued last year). I can’t stress enough that it wasn’t suddenly erased off the face of the earth and left all traders stranded – you can’t even theoretically do that with software. Discontinued means we stopped making updates for it and answering questions about it (which takes significant resources), but the program is still being actively used. Surprisingly, the number of users is actually growing!

We discontinued MCDT because it wasn’t achieving its goal, which was growing the ecosystem around the platform. We realized (through trial-and-error, there’s no rulebook for this sort of thing), that MCDT wasn’t working because it wasn’t attractive to developers. It didn’t have a language module at all, so people couldn’t create custom studies for it. MCSE does exactly the opposite – it provides a great environment to create indicators and strategies and test them in a real market battle without paying for a platform.

MultiCharts .NET Starter Edition has had a great reception among our partners and users. We are proud to say that MCSE is currently the fastest growing platform on the market in terms of new active users! We are really excited to work with all the .NET indicator and strategy providers in this new version, and just wanted to say thank you to all those users and beta testers that helped us create and bring this idea to life. Keep your suggestions coming!
 
Quote from SimpleTrades:

Suggest you remove the condescending harassment that your trial version of multicharts gives when one doesn't immediately buy. Must have been about 20 emails expressing "confusion" about why I wasn't sending you money.
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Same here. I found it equally annoying and it was one of the reasons I never returned to MC after my trial.

MC may be better than NT, but their marketing department seems to be doing a very poor job that can totally alienate potential customers. NT, on the other hand is basically a marketing company with a rather average product that they are marketing very well.

Personally, I prefer Amibroker over MC and NT, but it's sad that the MC team is shooting themselves in their collective foot.
 
Quote from Gueco:

Then its quite useless to me. And probably to most traders.
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Could be useful for newbies. They now can have a viable alternative to NinjaTrader. But I have yet to check it out to compare it to NT. Can't find time.
 
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