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Which Forex Platform And Why? MT4 or 5-currenex-ninjatrader-lightwave-jforex-others

  • Poll

  • Which Forex Platform And Why ?
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  • Post #1
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  • First Post: Oct 15, 2010 6:50am Oct 15, 2010 6:50am
Hello All

i know this is the most question that every one have so please choose in the poll and discuss about it here :

which Forex Trading platform you prefer to trade in a Real Account with it and WHY ?

Please see the poll and choose ,note that some factors which is important are : Speed ,

Slippage , fast execution , Re-quote and other factors that a broker is responsible

about it but chose totally which platform is the best ?

Don not forget to write your reason if you want here to discuss about it .
Please write here if you choose other Platform if you want
still i have this question that which platform is the fastest ?
Oanda - fast & good execution, nice spreads, interest paid on account too - the non plus ultra for me.
MT4 - use a demo account for charting - lots of historical data in it, can signup for almost any MT4 broker for a demo. Oanda charts are not so flexible and far less historical data in it.

savvy, captain?
forget about tomorrow, just steal away into the night
Quoting spekitox
Oanda - fast & good execution, nice spreads, interest paid on account too - the non plus ultra for me.
MT4 - use a demo account for charting - lots of historical data in it, can signup for almost any MT4 broker for a demo. Oanda charts are not so flexible and far less historical data in it.

savvy, captain?
thank you for reply , so still you use MT4 in demo

for charting but trade with oanda , but the pol

result is different MT4 platform is winner until now .
Despite the fact that MT4 still rules in popularity, I prefer the newer MT5. For one, the new indicators are really great, especially the TEMA (Triple Exponential Moving Average) and TRIX. The new MQL5 is easier to script also.
so meta trader platform has more audience yet ,

where is the people that told MT is not good ?
I have not learnt MT*, so I simply had to choose.

Background in C/C#: Java was easy to learn (limited to the basic functionalities one needs to write strategies under JForex).

Algodeal uses an API Java based, too (other advantage),

good API: fast in execution, major indicators are already coded;

tick-by-tick back testing

OO: easy to implement external libraries for Neural Networks (e.g.) and/or for some optimizer (GA/Simulated Annealing, LM, whatever).

Good support (at the beginning was terrible, though; but now there is a wiki and a forum; not bad, at all).
1. I am surprised to learn that MT4 received more votes than MT5. MT5 is hell much better than MT5

2. However my vote goes to 'other platforms'. I use Multicharts. It is a versatile front-end to be used in forex, stocks, options and futures. You can trade forex using Muticharts with the following brokers: MBT, PFG Best, Interactive Brokers, FXCM.

Multicharts is especially good for charting. It has very precise drawing tools. It is also good for backtesting, optimization and walk forward optimization. It uses multiple CPUs and multiple cores, which speeds up the process enormously when compared to other platforms. There are a few independet forex data feed providers that you can use in MC. I recommend IQ Feed.

3. I would add more platforms to the poll: the above mentioned Multicharts and Tradestation.
Quoting Karl_Vosp
1. I am surprised to learn that MT4 received more votes than MT5. MT5 is hell much better than MT5
I think you mean: "MT5 is hell much better than MT4".

Lately I have been looking for a good platform for backtesting (as opposed to live trade execution) as I wish to move away from MetaTrader 4.

I tried MetaTrader 5, and the multiple CPU core backtesting is good, however MetaTrader 5 cannot backtest over tick data.

MetaTrader 4 can backtest over tick data with a hack (by birt) but:

 

  1. it is cumbersome to prepare the data;
  2. backtesting (especially optimization) is very slow (it uses only 1 CPU core);
  3. it cannot read a tick data file past 2GB;


Neither can do portfolio backtesting (backtest over multiple symbols in one run).


Quoting Karl_Vosp
Multicharts is especially good for charting. It has very precise drawing tools.
I have been trying MultiCharts and charting is excellent. I especially like how easy it is to do multi-time frame charting. However it manages memory poorly, as I keep getting the running out of memory error if I try various things that require tick data, such as the Bar Magnifier for accurate backtesting. Also, the Portfolio tester does not use Ask prices.


I am now trying Dukascopy's JForex platform which proclaims to do portfolio backtesting over tick data.
NT7 has a major improvement in its Historical Data Manager, which now makes all historical data functions possible. ie. download, backfill, import/export, collection of live data into an editable database, etc.

NT6.5 didn't have this functionality... it's too long a story to tell, but before NT7, you really needed one data source for your historical and your brokers feed for live data, or pay eSignal for both.

You can now get free data from your broker, store it in your own database, and get backfills from your broker... or data vendor if you still want to pay one.

It has the best DOM in the business, a great and intuitive way to manage open trades. Better than anything else... even eSignal.

It has full backtesting, system dev enviroment and automated trading from your programmed strategy.

It uses an easy scripting language for simple tasks, but best of all it uses c#/dot net as its language.... so it's possible to do ANYTHING your computer's operating system can do.. anything. You can drop down into c# and build as complex an indicator or automated strategy as you can dream up, and let NT handle the connectivity, price database, and trade execution on the platform that does those things better than anything else out there.

NT7 final version was just released 12/01/2010.

It's free to use for charting, system and indicator development and backtesting... there is a fee if you actually place trades through NT.

There is an active community where many custom indicators are posted for downloading, or to get help writing them yourself. Each issue of S&C indicators are uploaded each month.

Check it out. Free download.

http://www.ninjatrader.com/download-registration

Aside from the fact that MT4 is a bullshit platform, Brokers can and do, and have been caught and fined for running the Virtual Dealer Plugin. Do you really want to trade on a platform that has that functionality? Doesn't that tell you something about Metaquotes?

No, I don't work for NT. I am a full time FX trader working with Neural Networks. Ninjatrader allows me to incorporate custom programmed nueral networks into their platform painlessly, where they can trade on live data.... all in C#.
Quoting Hyper
I think you mean: "MT5 is hell much better than MT4".
Yes. Silly error

Quoting Hyper
I have been trying MultiCharts and charting is excellent. I especially like how easy it is to do multi-time frame charting.
Confirmed

Quoting Hyper
However it manages memory poorly, as I keep getting the running out of memory error if I try various things that require tick data, such as the Bar Magnifier for accurate backtesting.
MC is unfortunately a 32-bit application. When you approach 2.5 gb usage of your RAM then Multicharts informs you of running out of memory. A non-perfect solution is to open multiple instances of MC. Each new instance can use another 2.5 gb of RAM installed on your machine.
Quoting Crassius
[ninja] has the best DOM in the business
Not any more Check today's announcement by MC. Links to a few screenshots of MC's manual trading and order management:

http://www.multicharts.com/traders-b...2/General1.png
http://www.multicharts.com/traders-b.../General-2.png
http://www.multicharts.com/traders-b.../General-3.png
http://www.multicharts.com/traders-b.../General-5.png
http://www.multicharts.com/traders-b.../General-6.png
I prefer MT4 since I am very used to. I have my tools that I use for trading and wouldn't want to miss them anymore.

What I don't like is that I can have multiple positions in the same currency pair. So 0.50 lot long EURUSD and another 0.50 lot is not 1.00 lot but 2x 0.50 lot long.

If markets move fast, I have to manage multiple positions instead of only 1.
Also, I cannot scale out or scale in easily.

If I enter 1.00 lot long, I can only set a SL for the whole position. But I would like to be able to put a sell order of 0.50 lots 10 pips below. And another sell order of 0.50 lots 20 pips below... Currently ot possible :-( If hedging is allowed, I would now have 1 lot long + 2x 0.50 lot short opened.

That's why I like the current MT5. But MT5 is not yet available for live accounts at most brokers. I only know of Instaforex, that they offer MT5 for live accounts: http://instaforex.com/company_news/1047.html

MT5 will also offer 1 click trading: http://c.mql5.com/3/2/1click__1.png
This will probably be interesting for the scalpers among us!

Besides MT4 + MT5, I really like NinjaTrader! It has a great charting tool, I can scale charts horizontaly and verticaly (which I miss in MT4 & MT5!). 1 click trading is also included... I can move limit and stop orders in the chart and trade directly from the charts.

If I would trade futures, I would definitely be using NinjaTrader!
I have tried their demo: http://www.mirusfutures.com/zen-fire...g_demo_account

If all you know so far is MetaTrader, then open a demo and give NinjaTrader a go. At first, it might be a little bit confusing, but as soon as you get used to it, you wouldn't want to miss the comfortable trading and charting capabilities...
Quoting Hyper
Also, the Portfolio tester does not use Ask prices.
You can backtest and optimize based on Ask or/and Bid or/and Trade - whichever data pleases you best. Look at the screenshot.

Quoting Hyper
I am now trying Dukascopy's JForex platform which proclaims to do portfolio backtesting over tick data.
I would be interested to know the speed difference between MC and JForex
Attached Image (click to enlarge)
Click to Enlarge Name: Ask data for testing.JPG Size: 57 KB
jforex is not good for analysis charts but its good for fast trading .
Quoting Hyper
I am now trying Dukascopy's JForex platform which proclaims to do portfolio backtesting over tick data.
You can also use MT4 for backtesting with Dukascopy Tickdata. It's just not very easy to set up.

But Tickdata is only available up to 04/2007 I think. But better than nothing, and it's free :-)

// Edit: Forgot the link: http://eareview.net/tick-data
Quoting adamp
You can also use MT4 for backtesting with Dukascopy Tickdata. It's just not very easy to set up.

But Tickdata is only available up to 04/2007 I think. But better than nothing, and it's free :-)

// Edit: Forgot the link: http://eareview.net/tick-data
I of course already know that as I myself collaborated with birt in the research / discovery phase of backtesting over tick data in MetaTrader 4, and I spent a lot of time writing my own scripts in C# to produce FXT tick data files. The problem is that it is still cumbersome and the method is not at all supported by MetaQuotes, as I believe they now have even put protection on the most recent versions of the terminal.exe file to prevent it from being hacked, so it is not possible to use the recent versions for tick data backtesting.
Quoting MRmojtaba
jforex is not good for analysis charts but its good for fast trading .
I agree that JForex is not good for charting. I would use MultiCharts for multi-time frame charting.

But for backtesting, I have been quite pleased with JForex's Historical Tester so far, as it does what I have been looking for - backtesting over real tick data over multiple symbols.

I have been able to set up the Java Integrated Development Environment called "Eclipse" for programming as it is much better than the built-in JForex Strategy Editor.

I have encountered some problems with JForex, such as some things sometimes do not work, but a platform restart has been an acceptable workaround.

What I am disappointed about is that it doesn't make efficient use of multiple CPU cores, as most of the work during backtesting is done in only 1 core.
  • Post #20
  • Quote
  • Last Post: Dec 8, 2010 11:20am Dec 8, 2010 11:20am
Quoting Crassius
NT7 has a major improvement in its Historical Data Manager, which now makes all historical data functions possible. ie. download, backfill, import/export, collection of live data into an editable database, etc.

NT6.5 didn't have this functionality... it's too long a story to tell, but before NT7, you really needed one data source for your historical and your brokers feed for live data, or pay eSignal for both.

You can now get free data from your broker, store it in your own database, and get backfills from your broker... or data vendor if you...

I've only used Power Trader, and I dont wanna try anything else
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