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Re: Anyone use Thinkorswim?

#11
I ditched MT5 as well. This is for Forex platform, not Futures...


(01:27:57 AM) AMP | Johnny: What is the last you have right now on MT5?
(01:28:00 AM) AMP | Johnny: for TYAM8
(01:28:15 AM) AMP | Johnny: 121.187500?
(01:28:25 AM) Justin: yes
(01:28:32 AM) AMP | Johnny: and TV right now?
(01:28:42 AM) Justin: 055
(01:28:57 AM) AMP | Johnny: MT5 has a different way
(01:29:02 AM) AMP | Johnny: of displaying the prices
(01:29:14 AM) AMP | Johnny: hang on
(01:29:23 AM) Justin: doesn't make sense...
(01:29:49 AM) AMP | Johnny: It does not display in the normal format
(01:29:54 AM) AMP | Johnny: its a bit different
(01:30:16 AM) Justin: So, do you mean MT5 is flawed platform?
(01:30:20 AM) AMP | Johnny: its not flawed
(01:30:29 AM) AMP | Johnny: its meaning that it does not display the tick increment
(01:30:39 AM) AMP | Johnny: with the traditional way that ten year ticks
(01:30:52 AM) AMP | Johnny: because its a forex platform its calculating it differently
(01:30:53 AM) AMP | Johnny: hang on
(01:31:07 AM) Justin: unbelievable....
(01:31:26 AM) AMP | Johnny: its actually correct but just displaying in a different format
(01:31:55 AM) Justin: So, TV is accurate?
(01:32:13 AM) AMP | Johnny: TV is showing it in 1/64th
(01:32:15 AM) Justin: The problem is when I put SL and TP, I use the numbers shown in MT5
(01:32:19 AM) AMP | Johnny: which is the common format
(01:32:33 AM) AMP | Johnny: but MT5 shows the tick size as .015625 instead
(01:32:38 AM) AMP | Johnny: that is the formula used
(01:32:40 AM) AMP | Johnny: in MT5
(01:33:10 AM) AMP | Johnny: You will notice the same thing with USAM8 symbol
(01:33:15 AM) AMP | Johnny: try an experiment for me
(01:33:19 AM) AMP | Johnny: pull up USAM8
(01:33:21 AM) AMP | Johnny: on both platforms
(01:33:25 AM) Justin: Ok, let's make it simple. The numbers shown in TV is same as the ones shown in Ninja Trader or TradeStation or Thinkorswim?
(01:33:25 AM) AMP | Johnny: and let me know if you see the same thing.
(01:33:30 AM) AMP | Johnny: Correct
(01:33:44 AM) AMP | Johnny: TV is going to display the more traditional way of how the tick size is displayed
(01:34:05 AM) Justin: Ok, it sounds to me MT5 is crap
(01:34:06 AM) AMP | Johnny: where with MT5 because traditionally forex platform it displays its differently
(01:34:16 AM) AMP | Johnny: not so much that its just a different platform
(01:34:24 AM) AMP | Johnny: not traditionally a futures platform
Simplicity is the ultimate sophistication - Leonardo da Vinci


Re: Anyone use Thinkorswim?

#12
Krelian99 wrote:
Mon Apr 02, 2018 6:14 am
heispark wrote:
Mon Apr 02, 2018 12:37 am
At first, it looked intuitive than other platforms especially compared to Interactive Broker's TWS, which I originally considered to use. Also, its colorful interface is aesthetically attractive to me. However, later I found many weaknesses of this platform. Its communities almost died, Broker dependency is not very good, timeframe change is not especially convenient, etc, etc... Now I have changed my mind and have decided to use MT5 as an execution platform, and MT4 for charting. MQL5.com community is the biggest and unbeatable. I have no choice but to use Metatrader platforms. They are de facto standard now. :cray:
You are used to MT4/ 5 (4.1). Stuff that is native in MT4 isn't in TOS and res versa (I don't know TOS, yet). Biggest and unbeatable community in MQL.com? 80% are beginners and have absolutely no clue and many will never have. Big yes, but this doesn't help you much. Trading is Champions League. You want to play CL, right? One guys that is a real pro is much more worth than 100 guys playing Amateur League concerned to learning. There is no Amateur League in Trading, but you want to ask amateurs how to play in CL. That doesn't make sense for me.

MetaQuotes has still a monopol, still. MT5 was a deadborn child, in June 2010 already obsolete. It isn't ready for the future. Brokers like MT4, but MT5 is another story. There is no communication with either traders or brokers from MetaQuotes. What do you think will the brokers do in the future? I'm not so sure they all will support MT5. I wouldn't trade Futures with MT5. I'm not married with MT5 in FX dimension and for Futures dimension there are many so much more powerful platforms. Using MT5 is like always running back to kindergarten because school is a bit more complex and frightens at first glance.

TF-change isn't convenient :D that's cute. It's a typical beginners thing to switch all the time between the tfs. Two or three charts with fix tf is all you need per instrument. Mostly only one instrument, in FX maybe two or three instruments. Effectivity, not quantity. So it's more a sign that it is a platform for pros, that tf-change isn't that convenient - badly coded I don't think.
Thanks for sharing your observations. Fully agree with your opinion on MT4 / MT5, they remain the milestone in the industry. 

Re: Anyone use Thinkorswim?

#13
I have been using ToS platform long time ago and as far as I remember the terminal was offering some tools that was not offered in the mt4 (unless additional scripts being implemented) like range bars and etc.
It is very nice terminal if you want to prepare analysis for options trading with great visualization and to find easy proper combinations of different options :)


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