Rithmic’s R | Trader and R

Unlike traditional trading platforms and stock market brokers, futures and forex service providers use different data feeds, which are not always native to standard platforms. Instead, futures and forex traders should opt for a data feed service and port the feed to their trading platform. This article examines R | Trader and R | Trader Pro trading platform.

pros and cons

Strong Points:

• it’s free
• Mobile app lets you monitor your account on the go
• Dedicated connectivity to RIthmic’s world-class data services means faster trade execution

Cons:

• Support for Rithmic data feeds only
• Unable to import 3rd party indicators
• Limited user interface customization options

Features

Before we look at the features of R | Trader and R | Trader Pro, let’s talk about the data feed that Rithmic is best known for.

What’s the deal with Rhythmic Data?

Unlike traditional trading platforms and stock market brokers, futures and forex service providers use slightly different data feeds, which are not always native to standard platforms. Instead, futures and forex traders should opt for a data feed service and port the feed to their trading platform.

Data feed service providers are essentially intermediaries between traders and trading platforms. When mediation. The best data feed service providers are known for their fast and accurate data transfer with minimal latency. Additionally, since the data service involves orders, the speed of position management is just as important as chart reading. Many data services cannot keep up with real-time market movements and send average prices or smoothed data instead of live quotes. Combine this with order waiting times and you could miss out on big opportunities or face an equally large loss.

Rithmic offers a solution used by many expert futures traders. This service provider excels at providing access to fast, accurate, and reliable data streams.

Does Rithmic offer a trading platform?

Yes – We have expanded our core data services to give traders access to two platform products. Trader, R | Trader Pro.

That way, all traders can create an ecosystem that eliminates the problem of connecting data to external platforms. Data feeds are natively integrated, saving you time and giving you more peace of mind.

What is the difference between R | Trader and R| Trader Pro?

Before getting into the details, here’s a quick summary:

R | Trader

R | Trader is an entry-level platform. Futures traders can see current price quotes, market volumes, and strikes for options traders, but they lack charting, a key feature that most traders need.

R | Trader allows you to place, modify and cancel orders and see standard statistics such as historical performance, positions and risk limits.

Traders who decide to stick with R | | Rather than upgrade, traders may need a secondary screen to display third-party charts.

R | Trader Pro

R | Trader Pro has all R | built in. In addition to the features of Trader, it includes charting and an interface pipeline to Microsoft Excel for easy trading management.

You can also create your own indicators using Excel. If you don’t know how, R | Trader Pro lets you add pre-made bundles live to Microsoft Excel.

Order management

A key advantage of Rithmic’s platform is the order “storage” process. Especially for traders on the go, Internet connections can be erratic and you can’t stay up and trade the market 24/7, so Rithmic records orders on its servers until they are filled or cancelled.

Our servers always have a direct link to the major exchanges, so you can execute your order at the price you ask for without being parked in front of the screen. Order depths are:

Excel integration

Rithmic’s R | Grand Draw Trader Pro platform is integrated with Excel. Using two-way communication, traders use as many Excel spreadsheets as needed to:

• View and manage data
• Create custom trading signals
• Creating and displaying indicators
• Import and view 100 pre-packaged exams
• Configure the deal and send it to R |Trade execution platform
• Automated trading triggers for those interested in developing algorithmic trading strategies

option

There is also a well-organized options board for options traders to monitor strikes and execute call or put trades.

R | Trader Setup

Installation is easy. After downloading the installation file, a shortcut will appear on your screen and below the program list. All Programs > Rithmic > Launch > Rithmic Trader Pro.

When you open the application for the first time, you need to enter your credentials to connect to a broker-dealer (FCM or IB). Then you will have access to a series of trading accounts.

After logging in, you can go to the settings management page or go directly to your account. If you’re having problems logging in slowly, ECL It’s at the bottom of the loading page. Copy and paste the text from the pop-up window and email it to Rithmic Support for assistance connecting.

that’s all! R | Trader Pro is much easier to set up than many platforms because you don’t have to go through the complicated process of connecting third-party data feeds.

R | Trader User Interface

Although intuitive, the user interface is somewhat basic. The main page doesn’t have any customization features, but it contains all the features you need to look good and be readily available.

For example, to display a graph, Time chart Click the button in the far right column and enter the symbol you want to display. The chart is split into three parts:

• Quote board: The quote board at the top of the chart page displays account information, positions, P&L and market data for the current symbol. This section is also where you manage your indicators.
• Chart body: The main draw of the window is where you display your charts and manage chart appearance and trading.
• Chart header: Located at the bottom, you can easily change the style and appearance.

R | Trader Pro allows you to draw chart trend lines, shapes, arcs, fans, and other visual cues typical of user preferences. The object selection panel is at the top of the window.

You can also manage your primary and secondary studies from the top of the window and add technology overlays that you have created or used from pre-programmed selections.

You can manage your chart style according to your preferences and trading strategy. The available options are:

• Equivalent bar
• equal shadow bar
• Standard bars and candlesticks
• volume candlestick
• Key
• point and figure
• Renko
• triple line break

If you prefer to consolidate all your information in a central location, you can generate quotes and market data windows directly on your chart.

You can find other functions available within the user interface. Most of them are standard across platforms.

mobile app

R | Trader Pro is one of the few trading platforms with a mobile app available for Apple and Android phones.

You cannot execute trades from the app, but you can view charts, market activity, order flow and order history. This app is a great tool for monitoring your accounts on the go.

Although still in beta (as of August 2022), this feature is a great asset for active traders.

Indicators available for R | Trader Pro?

R | Trader Pro comes with about 100 pre-programmed indicators, but experienced traders can create many more on their own. Unfortunately, at the time of writing, it is not possible to import third-party charts.

All basic charts with basic indicators are provided by R|Trader Pro, so more advanced traders with complex strategies may need a more advanced platform.

R | Trader system requirements

As with most platforms, there are no minimum hardware and network requirements as your needs will fluctuate depending on market conditions and trades.

We recommend a single dual core or better CPU, 4096MB RAM or better, and a high-speed cable or better. In addition to the app’s monitoring capabilities, the software only works on Windows machines.

R | Trader Price

This might be the biggest advantage of using R | Trader Pro – It’s Free!

You don’t have to pay for software or license fees, but there is a problem. A subscription to the Rithmic data service is required as the platform does not support any other services.

A subscription to Rithmic data is $25 per month, and you pay $0.10 for each contract sent to your broker.

R | Trader Support

Unfortunately Rithmic offers very little support. The website provides a support phone number and email address, but some people have reported difficulty getting in touch with it, and they don’t list hours of operation.

They link to external forums on the page, so if you need quick help from the community, we recommend using this option first.

Rithmic does not provide education or training services, but does provide links to other providers with whom we partner.

problems of the past

The biggest problem R | Trader Pro users are connecting to the service on first login. Therefore, in Rithmic, ECL Click the button and email the text to customer support to resolve the issue.

The forums are flooded with complaints of this kind, but since root connection issues vary from user to user, it’s best to directly support your login or connection issues.

Conclusion

For new traders, or traders with simple strategies that don’t need a ton of indicators or advanced features, R | Trader Pro is a great option. Its simple user interface, default connection to Rithmic data services, and mobile app capabilities are excellent for traders with such needs.

Those with advanced strategies or who want more flexibility should consider other options. Limited metrics, inability to import third-party metrics, and lack of access to non-Rithmic data sources limit the platform.

But try it before you decide. You can’t win for free.