I have been using the free charting program QuoteTracker for the entire time I have been learning to trade; roughly 4 years. QuoteTracker (QT) has been having difficulties the past few days with backfilling charts and after sending tech support an email, I received a reply stating that QT's parent, TD Ameritrade, is phasing out and closing down the QT charting service. Uggh. I have really enjoyed this charting platform... it has a number of very valuable features that are integral to how I've learned to trade: on screen countdown timer for the current candle no matter what timeframe it is in, a projected volume meter that tells me second to second what the entire candle volume would be if the current volume surge were to continue through end of candle timeframe, synchronized lines that will show up on all open charts for a given stock, and it has been FREE of charge.
I will really miss the FREE part, but I will also really miss the candle countdown timer. Knowing how many minutes and seconds are left on a particular candle is critical to how I time my entries and exits.
And finally, I have all my entries, exits, and important lines of reference for our retirement accounts on the historical charts, though those can be copied and saved in the same way I do screen shots for this blog.
I am one who was taught to never complain about free anything, and I am not now. It is boorish and ungrateful/selfish behavior. Though my disappointment can't be denied, I am thankful to have had QT for all this time at no charge.
They have recommended I sign on with Think or Swim, a TD Ameritrade affiliated broker/platform. I am not sure about this. I have used Interactive Brokers since the beginning and love its commission structure; basically dirt cheap! And I am happy with their simulated trading feature which is critical to what I do right now. I once looked into TOS but found them more expensive, and know nothing about their sim-trading or if they have one at all. Though they do have more features and benefits than IB. IB currently costs me $30 per month unless I make a minimum number of trades in a month. I don't trade my live account so basically it has cost me $30 per month for a good broker and nothing for the QT charting service. Looks like I will have to do some shopping and prepare to be training with a more expensive set-up. I have heard good things about REALTICK as a platform but as a practice trader, the $200+ cost per month is not workable. I will likely end up with REALTICK when I become a successful pro trader, but I just can't raise my overhead for their service until then.
**Qualification: Mrs. Bluecollar and I have been required to maintain at least one account at TD Ameritrade of a certain dollar amount in order to maintain the free status, so technically speaking, the platform was not without some cost, in this case it was opportunity cost as opposed to out-of-pocket fee or payment.
wow, that sucks! i love QT! it is the main software i use to trade. i have it hooked up to trade idea and rank everything according to volume % change, or gap size, etc. i wonder what the guys at hcpg patterns will switch to. they are a big proponent of the software.
ReplyDeletesince its installed on our computers, we should be able to continue to use it. the only problem will be the datafeeds. i wonder if it was the TD feed that was having a problem. that happens to me sometimes so i switch to scottrade datafeed for a bit.
Here is the actual text that Harrison, the guy I've always dealt with for tech issues, sent to me in response to the backfill issue I had:
ReplyDeleteThere are currently issues with backfill in QuoteTracker and we are looking in to how to efficiently release a fix for this issue right now. I will reply by email once a fix is released or a workaround is identified. We apologize for any inconvenience this may cause. In addition, please note the information below if I have not sent it already:
QT is in the beginning of the draw-down process. Too early to have very much info available. QT was programmed in Delphi for Windows 95 and a business decision has been made to cease support and maintenance of QT, so we are trying to integrate as many features as we can in to ThinkOrSwim from TD Ameritrade before that happens. When the drawdown is complete, QT will no longer be supported or maintained. In the meantime, we recommend trying out ThinkOrSwim. If you need any assistance with it or a walkthrough, just let us know and we'll see if we can get someone at TD Ameritrade to give you a call. For that, you would need a TD Ameritrade account, so if you have one, let us know the account number or userid (please do NOT send us any info other than that like password), a good phone number, day and time to call, and the timezone you're in.
Sincerely,
Harrison
wow! what a bummer. i use ninja trader for charting as well but it doesn't have the organization abilities of qt.
ReplyDeleteI heard that QT will no longer be supported or maintained after June 15, 2012.
ReplyDeleteCan we still run the QT's stock.exe file? or the API link betweem IB and QT will be broken by 6/15?
I was nto aware of the actual date until your post, Anon. My understanding is that we'll still be able to run the .exe file. Not sure though. I'll email the fellas over there!
ReplyDeleteBeen using Quotetracker for ages. Would never use anything else. Simple and reliable
ReplyDelete