Algo trading.....is it reliable enough ?

Questions about MultiCharts and user contributed studies.
User avatar
syswizard
Posts: 295
Joined: 15 Dec 2012
Has thanked: 16 times
Been thanked: 28 times

Algo trading.....is it reliable enough ?

Postby syswizard » 11 Oct 2015

I've been told that I must use a really expensive trading platform in order to implement algo trading strategies and that Multicharts "won't hack it".
Is this true ?
If so, why ?
If not, why not ?
The pundants are saying it cannot be programmed to handle adverse events or situations.....
What say yee ?

tony
Posts: 420
Joined: 14 Jun 2013
Has thanked: 30 times
Been thanked: 81 times
Contact:

Re: Algo trading.....is it reliable enough ?

Postby tony » 11 Oct 2015

You don't need to spend excessive money for a system. Most of my money went into a solid PC and of course the one-time charge for an MC license (which in my opinion is too low in price, yes I think MC should charge users even more for what we get). You need to work with a good broker and technology provider like Rithmic for example to ensure reliability. Other low cost items would include power back up, internet back up if you have many outages but those are not that expensive.

Why do people accuse MC of hacking their system? I would imagine most trading systems out there are not worth the time to hack as they are not that robust. MC seems to be accused a lot of hacking into systems and stealing logic. I don't think that type of questioning is accurate nor fair. In my years of working with the staff at MC I respect their integrity and willingness to help everyone.

As for adverse situations it all depends what you define adverse as. A one off event like something catastrophic (like a 911 event) no one can plan on whether it is programmed trading or old school manual. As for other less severe events you can study data releases and see what data series to not trade, build in circuit breakers for each trade, the entire day, etc.

evdl
Posts: 401
Joined: 19 Jan 2011
Location: Netherlands
Has thanked: 85 times
Been thanked: 124 times

Re: Algo trading.....is it reliable enough ?

Postby evdl » 12 Oct 2015

You are only limited to your own imagination and programming skills.

With the .NET version of MC you can make very complex systems. The Powerlanguage version is less powerfull than the .NET version, but for most it will exceed their programming skills.

If you want to play with the HFT firms, and use a retail solution for that or any other solution for that matter. Good luck.

But if you mean by algo trading that you want to automate your trading and get the emotion out of your trading decisions. MC can do this and more. The road to fully automated trading is in my opinion, hard to very hard, depending your skills.

eto
Posts: 42
Joined: 09 May 2011
Has thanked: 19 times
Been thanked: 8 times

Re: Algo trading.....is it reliable enough ?

Postby eto » 12 Oct 2015

With Multicharts adding more features. I would say "Yes" it is reliable by eliminating trading emotion.

It's getting better and better meaning flexible and more flexible.

Some of new features will be implemented.

1. unmanaged order
2. Portfolio auto trading and back testing with unmanaged order
3. Combination of powerlanguage & C# ( hope too this will be new feature to replace OOEL if MC no plan to implement OOEL)

User avatar
syswizard
Posts: 295
Joined: 15 Dec 2012
Has thanked: 16 times
Been thanked: 28 times

Re: Algo trading.....is it reliable enough ?

Postby syswizard » 12 Oct 2015

Guys - thanks much.
I definitely am going to go the Power Language route as my systems are not that complex and I don't want to learn the .NET platform.
I'd rather be monitoring my trading systems......
"Unmanaged orders": this is definitely a concern.


Return to “MultiCharts”