Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
I'd also suggest to start with Ninja Trader, because when I started out with trading 10+ years ago, for me it has been the most intuitive and easy to learn / get comfortable with platform to work with.
I took their trial for a few weeks first and then decided to purchase a Multi-Broker Lifetime license, and I didn't ever regret it.
Just my $0.02....
Edit: And their platform and brokerage support is outstanding, if you ever need it (which I rarely did over all these years).
"If you don't design your own life plan, chances are you'll fall into someone else's plan. And guess what they have planned for you? Not much." - Jim Rohn
I would suggest MOTIVE-WAVE!
The platform is extremely intuitive and easy to use and you can get a free version with some basic funcitionality.
You can find almost all indicators in it, including volume profiles and tpo profiles and any cycle related indicators (it was developed for Elliot waves addicts).
I think it is 100 times easier than Ninja and 10.000 times easier than Sierrachart for a beginner. Also it is stable and you can trade across multiple brokers (unlike Ninja).
To start trading I would suggest to start with some funding company and pay a monthly fee to them instead of opening an account and losing it in a couple of months.
As a beginner myself I chose NinjaTrader. The reason that I chose NT is in large part because the fees and commissions are reasonable and the platform was widely recognized for its solid executions. Also, I really liked the idea of being able to trade directly from the chart, and NT's chart trader is super easy to use. It was easy to set up and get started. Over all I am well satisfied with my experience using NT.
Lastly, I have found that I have grown with my platform, so I think its important to find one you like and stick with it. Download them all, test them out, and then pick one.
I may throw in a few thoughts and even knowledge from an other angel of view. Most people who start with trading deeply think their success will be dependable on any trading platform they choose. A platform which will have what ever how many indicators and if choose n the wright combination out of all this indicators, then success and money will flow into the account.
This may is and sadly in other cases is not the outcome wished. Question: Why? Following just one answer.
Counter question: Why do you need a trading platform? Could it be possible to trade just on simple charts available in the net and then placing orders by a broker to buy or sell this or that financial instrument ?
High professional trading platforms and even cheaper once, usually want money from you. If you not trade permanently and have a small deposit, this costs will eat away your small deposit month per month. So think about it.
Define what you want to trade and how you want to trade. Just to jump in the market with hope to make quick profit with your future or share, yes you may better do with a good trading platform.
If you want to do other ways of trading like a bit more complicated investment strategies, you will not depend much on such platforms. My tutor, which I meet 20 years ago, came from an old school kind of trading from a time where there even was no such internet word wide available like today. But he traded the US market from far away outside from the States and made his money.
Even today you can trade with out platform, but urgently by need of a serious broker. All the market information and charts are for small traders at any time available in the net.
Conclusion: You have to know what kind of trader you want to be or become and according to this you may choose a platform or not.
it is difficult to find a serious broker ... I don't know how to give an opinion because if in the background there is a scheme created to empty the account of customers it is impossible to discover...
I started with Ninjatrader for various reasons and I can say that it is definitely better than metatrader for live trading... recently I also installed Tradestation to do some analysis on the strategies (which is definitely better than NT for this purpose).
- How to empty an account in slow motion? If you have to pay a monthly fees to your broker house by using a pro trading platform from this house, you will be charged directly on your account you have with this broker. If you now have only a small amount of money placed in this account and this charging is done permanent every month, your account size evaporates steady if you do not trade to generate income. Surely it not happens in one month. But over time this generates an other, regular income for the broker house.
Further do the broker houses know about the 90% rule, as they did evaluate it by analyzing their customers accounts over a long period. What doe's it mean?
90% of new traders lose 90% of their money in the first 90 days in trading. So they not even need to have any schemes to plunder their customers accounts, as they know this. The scheme is working in full through the behavior of new traders.
Hi Symple!
thanks for the links above!
to me the subject is more complex...my feeling is (I should record some videos to show a precise comparison) that there is a big difference between doing trade in simulation and with the real account...I could be wrong...
I mean: after about one year and half of observation 'til today I notice that with the real account the price moves differently... difficult to explain in a post but there seems to be some slow/fast combined movements (like compression/expansion) as the connection apparently lags causing more unpredictable movements (imagine a good footballer who dodges opponents with dribbling...); in those moments it becomes impossible to close the losing position...or the stops are hit with surgical precision or the position goes negative with a speed that makes it difficult to close on the fly.
In this world completely digital where algorithms are easily hidden I think this is a kids play for these large companies, every second is useful for making more money. Doesn't matter that this markets are regulated when from a technical perspective probably it's really easy to move the price against each retailer individually. I could be wrong...or maybe not. What is your feeling and impression about it? Have you ever made any in-depth observations and comparisons? What is your experience?
Allot of the difference is the orders at bid ask and order que. In a sim you can get filled with order que not being in the equation or simply an estimate. In real life you can have a stack of orders that are first and you may never get filled while the top of book did. In real trading you can only get in or get out if there is a limit order on the other side. So your forced to take whatever spread there is. Volotile markets can cause slippage because of this.
