Which Broker for Automated Trading with MultiCharts

[smuhr 10]

Good morning,

 

I have looked to the MC User Guide and it's written that you have only 24h historical data with IB. Which is not useful for backtesting strategies...

 

So I need your advice to choose a good broker for automated trading with MultiCharts.(I am Trading on EU Market, sorry I'm swiss :p)

 

Thank you,

Steven

[DugDug 10]

Hi - one good thing about MC is that it takes many types of data feeds.

I download historical data into it from Esignal, and use IB live data for any intraday charts.

To manage this easily I just keep a few extra charts open.

MC is very flexible in the regard of combining data feeds and data sources.

Never had a problem with IB as a broker hence why I use them

 

On saying that I dont trade automatically via any system so I cant help you there.

[Tams 20]

Good morning,

 

I have looked to the MC User Guide and it's written that you have only 24h historical data with IB. Which is not useful for backtesting strategies...

 

So I need your advice to choose a good broker for automated trading with MultiCharts.(I am Trading on EU Market, sorry I'm swiss :p)

 

Thank you,

Steven

 

 

you should check with IB for historical data.

 

if you need a lot of data... try TradeStation, or eSignal.

 

 

IB is not a primary data provider... it is more a quote service for its clients.

[smuhr 10]

you should check with IB for historical data.

 

A solution is to use a IB API : http://www.interactivebrokers.com/en/software/apiReleaseNotes/api9.php?ib_entity=llc

[Tams 20]

I just remembered that you mention forex in another post...

 

sorry, I don't trade forex... can't help you with forex related information.

[smuhr 10]

Actually if I can trade futures and equities with the same software it's better.

I was using a French trading software : http://www.waldata.com but this software is not mature enought for the moment.

 

Regards,

Steven

[DugDug 10]

Hi Steven - from my experience, if you want to trade a wide variety of instruments then IB is the one to use. (options, equities, FX, futures) They give a wide access to varying markets - you can even trade (if you are very careful) without needing a price feed as they will accept orders.

eg; I occasionally do trades in a market that I dont need a price feed for I just enter my order to buy/sell at a particular price level and if it trades their its executed. I have tested this against the live market prices and the orders are entered and seen by a friend in his live time system.

As Tams said their historical data while available quite frankly is not great to backtest on - as they dont put them selves out as a data provider - they are a broker.

The API is pretty good into excel - you can export everything - orders, price data, account details, and send orders into the system from it.

Their charting system is pretty bad and not worth it - unfortunately - because if they actually managed to incorporate everything in one system it would make life easier! Their client servicing is pretty bad - unless you are a big user - and they know it - again they say they are not their to hold hands, but provide a service. - fair enough.