Hello everyone! I am relatively new to trading and want to start trading paper money. I have thinkorswim installed but before learning how to set it up I was wondering what platforms everyone recommended. I am not a day trader (yet?) so do not really need perfectly timed data however it would be nice to be as close as possible when I am home if I want to watch it.
I am freshman finance student in college right now so can not afford to pay for data or a trading platform yet.
I need recommendations for brokers as well for paper trading (obviously will use tdameritrade with ToS).
I am not opposed to using more than one platform or site to get data.
I downloaded the ninjatrader free version but I am not sure what I am missing with the free version. I know ToS is ppular but it seems complex and I hate the colors of it. As soon as I downloaded Ninja trader my eyes had a relief haha.
So yeah... opinions?? I guess I just don't want to spend the time learning an entire platform I will not use long term unless it is relatively easy to switch.
If you use the NinjaTrader 7 free license version, you will have a quality platform to get used to, and of coruse free end of day data to draw your daily, weekly and monthly charts on equities, futures, and forex.
These are the charts that you most probably need if you are going to swing trade and not venture in day trading.
Thank you how fast is the data on Yahoo finance? Any good places for lessons on Ninja trader? Why ninja trader over something else? What broker would you recommend for paper trading with using ninja trader
It covers "Where to Start" in terms of picking instruments/products to trade based on risk and account sizing, and comparing the different types of products (equities, futures, forex) so you can pick an appropriate broker.
Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.
Need help? 1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first. 2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses. 3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make. 4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance. 5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers. 6) Help using the forum? Watch this video to learn general tips on using the site.
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Does your college have a Bloomberg terminal? If so, there's a lot you can learn from familiarizing yourself with it, more so than NinjaTrader. Also, I remember my professor back in college had set me up with an IB simulation account, and that was very useful.
Also, look for finance internships ASAP. BBBs generally prefer sophomores. Also, don't limit yourself to the obvious firms. You can make yourself look attractive if you landed a freshman summer at Bain, McKinsey, or a less known bank on the investment banking side. I know one college kid who did some humanities major, worked at the operations/finance side of Google in his freshman year, then went on to Goldman in his sophomore year. I also know freshmen who did their first summers at Marie Claire (yes) and went on to Deutsche Bank, or who started off right away at Tower Research or Jane Street and went on to a hedge fund.
Worry very little about paper trading and retail-oriented products, as you'll learn a lot more, and faster, through your internship... provided you pick a decent one that doesn't just make you do coffee runs. (I know a firm that just made its entire team of 15 interns play unrelated mock trading games for an entire month.)
And I know this sounds inflammatory, but play your cards right if you have any... so long as you're not a white or Asian male, research your options: there are all kinds of diversity programs out there to give yourself an additional edge in the recruitment process. Some firms have to meet quotas.