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friva

Charting Tools Comparable to Bloomberg's?

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Hi folks,

 

anybody knows a charting software that is comparable in quality to Bloomberg's ?

 

Bloomberg's charting tools are top notch: they're powerful, user friendly and a pleasure to look at.

 

Unfortunately they are bundled with all the rest (news, analysis etc..) and thus far too expensive.

 

What's the closest match to Bloomberg's charting tools in your opinion ?

 

I know that Investor RT and Multichart offer some functions I am interested in (eg: dynamic regression lines with fixed start dates).

Any other name ?

 

Thank u !

 

Franco

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Hi folks,

 

anybody knows a charting software that is comparable in quality to Bloomberg's ?

 

Bloomberg's charting tools are top notch: they're powerful, user friendly and a pleasure to look at.

 

Unfortunately they are bundled with all the rest (news, analysis etc..) and thus far too expensive.

 

What's the closest match to Bloomberg's charting tools in your opinion ?

 

I know that Investor RT and Multichart offer some functions I am interested in (eg: dynamic regression lines with fixed start dates).

Any other name ?

 

Thank u !

 

Franco

 

anybody is better than Bloomberg.

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I agree with Tams....

Bloomberg, while greatly improved, is not a charting program.

Major ones to look at an research as each has their advantages and disadvantages....plus it greatly depends on what instruments you trade and the info you want.

Sierra chart, Multicharts, Metastock, Ninja trader, Amibroker, Tradestation, Esginal, advanced Get......the list continues.......

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I agree with Tams....

Bloomberg, while greatly improved, is not a charting program.

Major ones to look at an research as each has their advantages and disadvantages....plus it greatly depends on what instruments you trade and the info you want.

Sierra chart, Multicharts, Metastock, Ninja trader, Amibroker, Tradestation, Esginal, advanced Get......the list continues.......

 

"Incredible Charts" might be worth a look - there is a free version and a premium version.

 

Fully customisable and data is free, but end-of-day only, with the free version. Premium (paid) version is updated hourly inra-day. Huge number of indicators, a custom filtered scanner and watch-list creation etc.

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My apologies if I am offending anyone but you folks have some strange ideas about software...The best quality charting software and most consistent data delivery is CQG....Professionals use it because the data delivery doesn't hang up when you get volume surges (like during economic report releases or Fed Announcements). The rest of the vendors are about the same including Esignal and IRT.....

 

I use Bloomberg to trade the bond basis using IRR data (for the repo market)....I've never seen a retail trader using Bloomberg or any professional level toolset for that matter...probably because the cost is prohibitive.....thats understandable.

 

Unless you need specific tools that only Bloomberg has, I would go to Esignal for the best middle of the road package....If for some reason the original poster needs specific data feeds of chart tools the next best bet is to call Becky at CQG and describe what you need...if they can get it for you it will cost less than Bloomberg

 

Best of Luck

Steve

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My apologies if I am offending anyone but you folks have some strange ideas about software...The best quality charting software and most consistent data delivery is CQG....Professionals use it because the data delivery doesn't hang up when you get volume surges (like during economic report releases or Fed Announcements). The rest of the vendors are about the same including Esignal and IRT.....

 

I use Bloomberg to trade the bond basis using IRR data (for the repo market)....I've never seen a retail trader using Bloomberg or any professional level toolset for that matter...probably because the cost is prohibitive.....thats understandable.

 

Unless you need specific tools that only Bloomberg has, I would go to Esignal for the best middle of the road package....If for some reason the original poster needs specific data feeds of chart tools the next best bet is to call Becky at CQG and describe what you need...if they can get it for you it will cost less than Bloomberg

 

Best of Luck

Steve

 

Thanks for the input Steve - and no, good information never offends. It is always helpful to hear what other traders find useful - regardless of which level they trade.

 

At my level I am finding the charting simplicity of MT4 platforms are adequate to trade a 15 Min-to-4 Hour time-frame, and the higher the TF, the less sophisticated my requirements. A couple of MA's and a bit of Price Action knowledge, and a sentimental favourite indicator is probably all I need to see if a chart is doing something. How well I handle what I am seeing depends on other factors - factors that depend less on the quality of the chart.

 

If there is an obstruction ahead, the driver still has to swerve, or suffer the consequences. Recognising that obstruction is where the rubber touches the tarmac.

 

Cost has always been a factor when choosing my tools, and I have tried to stay within my skill-set in choosing charting packages. No use trying to manage a Learjet when you are mentally only fit for an old Jalopy! And what may be an old Jalopy to one trader, can be made to seem like a Learjet in the hands of a better trader.

 

No doubt an ability to own, afford good data, understand the features of, and extract the best from a half-decent charting setup, would make some difference over time, but the best charting package in the world can not help a flawed approach. Going with the common package can yield the common result ... where is the balance?

 

Where there is no vision (guidelines and discipline) the people perish!

 

Your posts have brought right out in the open the things that are possible in trading, and I have enjoyed a bit of dreaming while reading your stuff. It doesn't hurt. I have referred your posts on the ES to a friend of mine who trades eMinis, to open his eyes to possibilities.

 

Unfortunately traders like myself are a long way from walking in shoes like yours, and it then becomes a matter or resigning yourself to your fate.

 

Will it be the Learjet ... or the Jalopy?

 

90% of us don't know the truth of that yet!

 

.

Learjet.jpg.f741f1a3c0d07b538d66d20f5cf433e8.jpg

5aa71061d3663_Cardashboard.jpg.84061faeeffa332e13d9a0fd2c4e7538.jpg

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My apologies if I am offending anyone but you folks have some strange ideas about software...The best quality charting software and most consistent data delivery is CQG....Professionals use it because the data delivery doesn't hang up when you get volume surges (like during economic report releases or Fed Announcements). The rest of the vendors are about the same including Esignal and IRT.....

 

I use Bloomberg to trade the bond basis using IRR data (for the repo market)....I've never seen a retail trader using Bloomberg or any professional level toolset for that matter...probably because the cost is prohibitive.....thats understandable.

 

Unless you need specific tools that only Bloomberg has, I would go to Esignal for the best middle of the road package....If for some reason the original poster needs specific data feeds of chart tools the next best bet is to call Becky at CQG and describe what you need...if they can get it for you it will cost less than Bloomberg

 

Best of Luck

Steve

 

no offense taken and good to add to the list...... however CQG, and quite a few other packages get limited by the markets they trade......unless I am mistaken you cannot trade equities through CQG.????

Plus there is always the costs associated with a more professional system, which affects many people.....

all depends on what you require.

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Thank u Tams, that's encouraging. I only know Bloomberg and Reuters (B's way ahead of R's) so it's good to know there is much better than B out there.

 

Thank u Siuya.

Bloomberg's charting tools are just simple, fast and user friendly.

I currently trade DAX futures intraday and watch only price action.

I use nothing but lines and regression lines on 3-4 timeframes (day, 2 days, 30 days, 6 months) on 2-4 screens.

What would be the best software for me, in your view ? Thank you in advance for your opinion.

 

Ingot54, thank u for ur suggestion. I'll take a look to "IncredibleChart" although hourly updates for me is slow. I trade DAX futures intraday and watch only price action. I use nothing but lines and regression lines, I do not believe in complications. If u know a software that fits that I would be glad to know. Thank you in advance.

 

Thank you Steve46, I guess CQG Trader is very good, particularly if one does spread trading (I don't). It's relatively expensive. Last quote I got was EUR 440/month for charting (not including charge for live prices and broker comms). Much cheaper than Bloomberg, though, and worth a closer look.

 

Best

Franco

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I agree with Tams....

Bloomberg, while greatly improved, is not a charting program.

Major ones to look at an research as each has their advantages and disadvantages....plus it greatly depends on what instruments you trade and the info you want.

Sierra chart, Multicharts, Metastock, Ninja trader, Amibroker, Tradestation, Esginal, advanced Get......the list continues.......

 

Siuya,

 

Did you catch the Ninjatrader Webinar yesterday? I was impressed. The rording should be posted on the site soon.

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Depending on your requirements, NinjaTrader is free if all you need is market analysis. If you want to trade, we charge you. We support a number of different feeds including CQG (mentioned earlier in this thread) plus our own brand, Kinetick.

 

A full list is located here - NinjaTrader stock, futures and forex charting software and online trading platform. Tour and Features.

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Mystic - I stoppped using ninja trader.

I never really got into it, as i did not like the feel of it and the feedback seemed that it had issues with recent upgrades, so i focused elsewhere.

For friva - given your trading it seems you might be best looking at anyone of the systems mentioned and seeing what you like. Each has a different feel, different style.....and so its up to you.....as each user is different. There is also a lot of fourms around for each which more specific questions might be asked.

they all have trials, or a cheap to test for longer periods.

Some brokers might also offer soft dollar options for CQG, bloomberg etc; if you pay enough brokerage.....this could also be an option?

 

One other option might be OEC as it has the charts and broker all as one.

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First a comment for Ingot...sir our "shoes" are not so different....unfortunately I have to use specific tools for the bond market, because of the volume I have to move....If I were trading my own account, actually I would NOT use them because I could get similar results (but it would take more time) using other more easily available methods.

Second to those interested you can trade equities using CQG, and as I pointed out, because the premium (as compared to Esignal for instance) is significant, unless you need SPECIFIC tools (they offer different data items, and their Market Profile display is better for example) it is probably not for the average guy/girl.

Finally the data delivery.....I can tell you about this first hand, because there was a time when I traded two conditions that required consistent data delivery during high volume/high volatility conditions....one was Fed Announcement....the other was economic report releases including earnings....I realize that most of you don't like to get involved at those times, because the volatility is hard to manage. During these high vol times, CQG provides very consistent delivery (I know because I have had both CQG and Esignal side by side on my screens) and I have seen (in past) Esignal slow down to the point of freezing, while CQG just chugs along like nothing was happening....you see....so really it depends on what you need....

 

Personnaly, if I were retail...trading regular hours and staying away from high volatility situations, I would choose either Esignal or IRT as the best price/features compromise. Of those two products, I would suggest that Esignal requires the LEAST upkeep and maintenance....IRT on the other hand requires active periodic management of the database.

 

I hope this helps

 

Good luck

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Hi friva,

 

Have you tried Updata Professional or Updata TraderPro. TraderPro is more for the private investor but it is a very powerful charting software. Interesting to note that quite a lot of trading houses have Updata's TA software (Professional) hooked up to their bloomberg terminals so they can get bloombergs data feed going directly into Updata in order to do their TA. TraderPro is affordable and there are different versions with their own feeds or you can use a third party data feed. I'd be happy to provide you with a copy and show you around this software if you wish. Just PM me.

 

Best regards,

 

Chartist Lion

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If you are trading futures CQG is top notch. I have had a very successful career in futures since 1984, tried tradestation esignal among others but have always returned to CQG for it's superior charting and now trading capabilities. If you are going to fail trading it won't be because you spent too much on your charting software....give yourself a fighting chance.

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