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Looking for best free platform

  #1 (permalink)
jakebake
United States Az
 
Posts: 9 since Sep 2013
Thanks Given: 2
Thanks Received: 0

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.

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  #3 (permalink)
 
Fadi's Avatar
 Fadi 
Luxembourg
 
Experience: Advanced
Platform: NinjaTrader
Broker: IB / Kinetick
Trading: ES, CL
Posts: 485 since Apr 2012
Thanks Given: 667
Thanks Received: 648


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.

If you are going to trades equities and forex only, then you can always try FreeStockCharts.com - Web's Best Streaming Realtime Stock Charts - Free
You get a very good tool as well, with realtime data for your intraday market watching an learning.

Successful people will do what unsuccessful people won't or can't do!
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  #4 (permalink)
jakebake
United States Az
 
Posts: 9 since Sep 2013
Thanks Given: 2
Thanks Received: 0

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

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  #5 (permalink)
 
Big Mike's Avatar
 Big Mike 
Manta, Ecuador
Site Administrator
Developer
Swing Trader
 
Experience: Advanced
Platform: Custom solution
Broker: IBKR
Trading: Stocks & Futures
Frequency: Every few days
Duration: Weeks
Posts: 50,399 since Jun 2009
Thanks Given: 33,175
Thanks Received: 101,541


jakebake View Post
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

Watch this webinar:



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.

Mike

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  #6 (permalink)
jakebake
United States Az
 
Posts: 9 since Sep 2013
Thanks Given: 2
Thanks Received: 0

Not to be an idiot but clicking that link just brings me to a list of the webinars and I can not seem to find that exact webinar. I am not an elite member yet.

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  #7 (permalink)
 artemiso 
New York, NY
 
Experience: Beginner
Platform: Vanguard 401k
Broker: Yahoo Finance
Trading: Mutual funds
Posts: 1,152 since Jul 2012
Thanks Given: 784
Thanks Received: 2,685


jakebake View Post
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.

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.

All the best for your first semester.

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  #8 (permalink)
 artemiso 
New York, NY
 
Experience: Beginner
Platform: Vanguard 401k
Broker: Yahoo Finance
Trading: Mutual funds
Posts: 1,152 since Jul 2012
Thanks Given: 784
Thanks Received: 2,685

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.)

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  #9 (permalink)
 artemiso 
New York, NY
 
Experience: Beginner
Platform: Vanguard 401k
Broker: Yahoo Finance
Trading: Mutual funds
Posts: 1,152 since Jul 2012
Thanks Given: 784
Thanks Received: 2,685

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.

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  #10 (permalink)
 artemiso 
New York, NY
 
Experience: Beginner
Platform: Vanguard 401k
Broker: Yahoo Finance
Trading: Mutual funds
Posts: 1,152 since Jul 2012
Thanks Given: 784
Thanks Received: 2,685


It also sometimes doesn't hurt to PM random strangers on forums who seem to know what they're talking about, so long as you retain the judgment to decide if their advice is any useful to you.

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Last Updated on September 9, 2013


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