Support Board
Date/Time: Mon, 21 Apr 2025 13:26:49 +0000
[User Discussion] - Risk Management Dashboard UI - New Subscription Model For Sierra Charts To Prop Firms
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| [2025-03-13 14:39:49] |
| User677437 - Posts: 57 |
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Every single Sierra Chart user knows and feels the superiority of Teton and Denali. I think most of us would like to trade LIVE FUNDED prop accounts using Teton / Denali. There is something to be said, that SC did not know how many users - were using Rithmic for a prop connection, and copy trading prop accounts. It's also a great feature to have multiple installations ( not instances for new people reading ) - up to 3 the last time I checked that allow for using a different data feed. 2 other Rithmic connections that have separate login info can be used. I would even go as far as to say, that all the charts that have been built out with extensive studies and custom code should not be switched over to a rithmic connection. Rithmic functions better just as basic execution chart / dom combo, next to the built out charts on teton/denali. If Sierra Chart were to create a Professional Suite of a risk management dashboard UI, that logs trade history, can lock out, and can terminate a user connection from the risk management team. And can easily be configured to input any variables or accomplish any tasks that a risk management team wants, and someone from the dev team is direct support to all of this. This could be a massive revenue stream for Sierra Chart. Props firms that send traders live to the market need the dashboard for the feed to be licensed out on a per user / per account basis. This should be the number 1 user feature that Sierra chart should be working on because prop traders want to trade live with Teton and Denali. This is not about sim fills, or working with any prop company that DOES NOT take traders live. There is no need to develop sim algo fills to integrate into the dashboard because it's not a live feed. Once a trader goes live, and profit split is the way the prop will be making money off that trader - We want the ability to say Sierra Chart has a risk management dashboard UI, a seamless process to put in risk metrics, a global suite that compiles data from all live traders using teton / denali, running correlation studies to detect any outliers. User Personal Information would be embedded in this platform on the Prop side. An easy process to send people their tax info. From a pricing perspective and having to use an integrated package 10, 11, 12 to connect to external data service. Since the dashboard doesn't need trading chart features. It's in the realm of possibility that a live funded trader will pay 36 $ a month directly to SC for each separate login info with a prop or on a per account basis. This could be an additional 72$ a month if someone is a live funded trader running 2 other installs with login credentials from 2 prop firms - under the single SC user login credential. Increasing the number of installs up to 5 would support this profit model. I think all of this would be a better system if it was all under 1 SC login credential. Instead of multiple SC login credentials that would need broker accounts and deposits to get live data. I think there is a significant market here, and that a roundtable Twitter Spaces or YouTube Stream with Sierra Chart Study Creators / Educators etc with a live poll will show you how much of a market there is here in your user base, of which it was underestimated how many users were using rithmic to trade prop accounts. I'm not in any position to say that Sierra Charts should become a prop firm. However creating a risk management dashboard app to license out the data feed to prop firm companies, is where there is 2x, 3x, 4x, the market of potential traders that are not interested in funding their own personal live account, and they are comfortable with profit splits being a live funded trader. There is an appeal to traders with prop firm companies, networking, there are meetings, it feels more of like an office job. Prop can have risk meetings on macro environment and give advice. There are benefits. I'm in many discord groups, and many are not happy with rithmic fills on live funded accounts. Tradovate is a little bit better, but it's a different platform. Sierra chart users that have dedicated the time to learn, are the most dedicated user base out of any trading platform. Date Time Of Last Edit: 2025-03-13 14:46:05
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