Brokers & Platforms??

[BillTainter]

Please advise which Broker to use and which platform.
ThinkorSwim.com is no commission and small spreads, out of chicago, IL.

The Meta Trader platform is simply horible to enter trades, and no where can I see how to enter 3 Limits and 3 stops with a configured interface like tradestation etc.

I need to trade off my phone and am really interested in what others are using.

I have a TradeStation account, Broker, data, platform. I started trading Futures and have written strategies to automatically trade futures, but they don't have Forex option available.

Thanks
Bill Tainter
All Pairs, If it moves I trade it...

[ForexJoe]

We will be offering suggestions soon. Thanks for patience

[roger down]

I have been using Fx Spyder attached to FXCMit is a good dome platformand easy to use.
BUT they screw your account.
The chart showed the CHF Price fell to 1.2226. I exited the trade but my account was filled at 1.2209 and they Stole 25 pips!!!
They closed it at my Stop level and not the market price.

BEWARE and check your account on exit of EVERY trade. I had been suspicious of problems as my excel spreadsheet did not tally with their account.

Anyone know another broker that has agood Dome and can apply multiple Profit taske levels. ALPARI, Dealbook (GFT), do not.
PLEASE HELP andpoint me in ther right direction

[Michael]

Imho you should use a broker providing MetaTrader 4 (MT4).

Why?

1st. Sunil's presentations are on MT4.
2nd. It's very easy to use and has a inbuild charting functionality and indicators
3rd. There are a lot of brokers out there where you can get free demo account with MT4 (i use several ones for practise regimen). - and ... a lot of them even offers rebates on trades should you go live with them ...:).
You can check out a good list of MT4 brokers here (http://forexjedi.com/info/cashback.htm) (Site may load slow due to heavy traffic)

Regards,

Michael

[maddogpopp]

Hi,
Just wondering if any of my fellow classmates have been receiving calls from vendor/broker reps asking how we like the MetaTrader4 paltform and when we plan to start trading live. I, like most in the class, downloaded the link for the MetaTrader4 platform from the link provided in the OU ForexJoe class. Apparently, this link is conected to Peregini Financial. I keep telling these reps who call me that we are part of a Forex trading class from Options University and that we were told to download and use the platform and that at some time in the future we would be given the name of a recommended vendo/broker. Does OU have a relationship with Peregini Financial? What should I tell these people when they call?
Regards,
maddogpopp EUR/USD

[utkarshshah]

I use TradeStation to trade forex as already have futures account with them. I had to modify my strategies a bit and am integrating Joe's material. I am also comfortable with ThinkorSwim. I use paper accounts with both. For TS you can find more info: http://www.tradestation.com/automated_trading/advanced_forex.shtm

[utkarshshah]

Yes they keep calling relentlessly. I now don't take their calls as most of them will be from private or 800 number.

[rfredcpt]

There are many, many, brokers offering demo accounts so there shouldn't be any problem utilizing practice accounts, over and over and over again. The challenge comes when choosing where to open your "live" account. Everyone needs to know, this is no different than choosing a bank for your bank accounts, or where to put your 401K/IRA/SEP, it's buyer beware. This has been what makes our country great, right...? Anyway, the choice is yours ultimately, don't rely on others to do your homework for you. Be the CEO of YOUR bankroll.

[HenryChidgey EAU/USD]

Hi,
Just wondering if any of my fellow classmates have been receiving calls from vendor/broker reps asking how we like the MetaTrader4 paltform and when we plan to start trading live. I, like most in the class, downloaded the link for the MetaTrader4 platform from the link provided in the OU ForexJoe class. Apparently, this link is conected to Peregini Financial. I keep telling these reps who call me that we are part of a Forex trading class from Options University and that we were told to download and use the platform and that at some time in the future we would be given the name of a recommended vendo/broker. Does OU have a relationship with Peregini Financial? What should I tell these people when they call?
Regards,
maddogpopp EUR/USD

Howdy MadDogpopp,

Here is what I've recieved from the place where we downloaded the demo MT4:
Henry,

I just checked with our Customer Service Director and he informed me that you should not have received that email and you will not need to pay for the platform. People who have been using the demo account for a very extended amount of time without opening a live trading account are the only ones who should have received that email.

In order to setup a second demo account you simply need to login top your MT4 demo, right-click on your account in the Navigator Pane and select “Open Account” to setup another demo account. Please let me know if you have any questions or concerns. Thanks Henry.



BEST Regards,
Josh Collins

Joshua Russell Collins, Customer Relations
3812 Cedar Heights Drive
Cedar Falls, IA 50613
319-553-2100 | 319-277-0880 fax
NFA ID# 0354224

Regards,

HenryChidgey EUR/USD

[iluvgravy]

Howzit Joe and Sunil,

InterBankFX, my broker, is introducing the 5th decimal pricing. This will apply to demo accounts from this Sunday and live accounts from the 17th May 2009.

What implications does this extra decimal hold for trading and for settings etc????

Thanks

:(

[ForexJoe]

It has been most common for last couple of years in most platforms

the only issue of substance

retraining your eyes to read actual bid and ask prices

with the extra decimal

[Darrell Peterson]

I have been using PFG for less then a month and thay sent me an e-mail sating I had to pay 29.95 Pm for demo service now its 8:55 pm central Sunday night and I can not trade yet on there platform I called the 800 and no one there.
I have a live acc. with interbank and that is were I will be trading.
I called PFG thurs and that said I can not scale out of a forex trade it all or none with them.
Darrell eurusd

[BillTainter]

I am paper trading with AMP Forex. They have NO Commission, and tight spreads. Can open account with $250.
Their platform for FREE is Ninja Trader.
It is MAGICAL
You trade off Charts, HOWEVER, unlike MT4, you can enter 3 Limits and 3 stops etc, with one click!!!!

Also, you can use "Chart Trader" and drag and drop your LIMITS and STOPS on the Chart. This is magical I tell you.

I like Fibonacci's so when I draw my extensions, I simply drag my limits to the Fib lines and drop them, and my trade is setup in about 10 seconds.
I have been trading Forex hard for 6 months and let me tell you this is THE premier platform. I really don't like the MT4 - the most critical component TRADING is too cumbersome.

Check them out www.ampforex.com and download NINJA Trader
Best of luck

[Joel A]

I am paper trading with AMP Forex. They have NO Commission, and tight spreads. Can open account with $250.
Their platform for FREE is Ninja Trader.
It is MAGICAL
You trade off Charts, HOWEVER, unlike MT4, you can enter 3 Limits and 3 stops etc, with one click!!!!

Also, you can use "Chart Trader" and drag and drop your LIMITS and STOPS on the Chart. This is magical I tell you.

I like Fibonacci's so when I draw my extensions, I simply drag my limits to the Fib lines and drop them, and my trade is setup in about 10 seconds.
I have been trading Forex hard for 6 months and let me tell you this is THE premier platform. I really don't like the MT4 - the most critical component TRADING is too cumbersome.

Check them out www.ampforex.com and download NINJA Trader
Best of luck

Thanks for the suggestion Bill...I can't be in front of the computer all the time and really wanted to automate the take profit 1, and take profit 2, BE +1...I will have to check it out

[Joel A]

I am paper trading with AMP Forex. They have NO Commission, and tight spreads. Can open account with $250.
Their platform for FREE is Ninja Trader.
It is MAGICAL
You trade off Charts, HOWEVER, unlike MT4, you can enter 3 Limits and 3 stops etc, with one click!!!!

Also, you can use "Chart Trader" and drag and drop your LIMITS and STOPS on the Chart. This is magical I tell you.

I like Fibonacci's so when I draw my extensions, I simply drag my limits to the Fib lines and drop them, and my trade is setup in about 10 seconds.
I have been trading Forex hard for 6 months and let me tell you this is THE premier platform. I really don't like the MT4 - the most critical component TRADING is too cumbersome.

Check them out www.ampforex.com and download NINJA Trader
Best of luck

Bill do you know if Ninja trader will work with MT4?

[CollonFox]

I have discovered the CMS.com platform called VT Trader, it has more refined graphics and more features than most platforms. Have opened a demo account to blow up and learn the features of it while I practice trade.

I am experimenting with divergence on the 1, 2 and 4 hr charts along with the daily reports to help with entry/exit.

Collon stalking UJ EU GU

[Joel A]

I am paper trading with AMP Forex. They have NO Commission, and tight spreads. Can open account with $250.
Their platform for FREE is Ninja Trader.
It is MAGICAL
You trade off Charts, HOWEVER, unlike MT4, you can enter 3 Limits and 3 stops etc, with one click!!!!

Also, you can use "Chart Trader" and drag and drop your LIMITS and STOPS on the Chart. This is magical I tell you.

I like Fibonacci's so when I draw my extensions, I simply drag my limits to the Fib lines and drop them, and my trade is setup in about 10 seconds.
I have been trading Forex hard for 6 months and let me tell you this is THE premier platform. I really don't like the MT4 - the most critical component TRADING is too cumbersome.

Check them out www.ampforex.com and download NINJA Trader
Best of luck

Bill,

How long did it take you to figure out how to use Ninja trader? It seems really cool if I could figure out how to use it. Are there any tutorials on Amp forex, or did you have to learn directly from Ninja trader? Thanks

Joel

[BillTainter]

The help is great, you can search and they have video tutorials etc.
You can do trailing stops and I like the break even at 20pip move etc. securing profits.
From your chart click the icon on the top called "Chart Trader" to see the limits and stops graphically. Don't use the Super DOM etc, only trade off charts, right click to enter and see off to the right of the chart is the ATM strategy configuration.

[Joel A]

Thanks Bill I will try it. I'm planning on watching some of their webinars this week. I think the one which shows you how to trade off the charts is on Friday

[BillTainter]

You can just hit the help and search and they have videos inside and screen shots etc. Great stuff.

There was a questionon Ninja and MT4 - they are competitors.
You have a Broker, they handle you rmoney
You have the data feed, usually from the broker
You have the platform, the software you use to chart and place orders.

Brokers are Interactive Brokers, Forex.com, Tradestation etc
Platforms are Ninja Trader, MT4 etc etc.

Hope that helps

[Fx-Rich]

I'm using TradeStation demo because I have Futures account with them.

Managing positions is very time consuming for me, so I want to open live account someplace else. Looks like Ninja could work as a front end for TS. Have you tried it?

I have been hearing a lot of good stuff about Ninja so I will definitely check it out.

Have you looked into Interactive Brokers? I've heard that you could have one trading account over several asset classes, so you could trade futures and forex from same account.

Also, have you found a front end for 3G phones?

Richard Butnik, EURUSD, JPYpairs

[dcantin]

Hi Bill,
Thanks for the recommendation for the Ninja platform.
I downloaded it but can't find the video's to learn how to use it. Where do I need to go.
Thanks
Denise Eur/USD

[BillD]

When we started this program with Forex Joe, we were instructed to open demo accounts with PFG because Options University was working on a deal with them - which could mean a better commission rate for us. Has anything come of this? Are they still a recommended broker? They've been bugging me about opening a live account.

Bill Dietrich
EUR/USD

[rfredcpt]

Hello Denise,

I also am currently using NinjaTrader and LOVE IT!! Since you are just getting started, I'll give you a few tips. NinjaTrader is software used to chart and manage your trades and doesn't provide the data feed. There are many options for that but for Forex you can set up a connection using Gain for free. You'll need to look up the instructions on setting up a connection, (from control panel-tools-account connections-then add-then choose Gain(name it what you want)etc.

This program takes some time to learn to use but I have found it well worth it. From any window you can hit F1 key and it will open the instructions. Also, from their home website www.ninjatrader.com, on the left click on live events for a calendar of their live webinars. These are very helpful as you have the oportunity to ask questions but are not taped so if you can't attend you will rely on the instructions and they also have some video tutorials as well. You can also send any ?'s to support@ninjatrader.com , they are really diligent with response.

They also have a free Forum that is a great place to get more education as well as advanced indicators that have been written by various programers, http://www.ninjatrader-support2.com/vb/.

Also, one last bit of info, they are free for demo trading or as they call it SIM(simulated) trading. There is a licensing/lease fee for live trading, however, you can use it FREE if you use a live Gain account. So once you decide to start using it for live trading that will be something to consider. I have found this is going to be the way I can set my trades and not worry about managing them.

I hope this has been helpful.

Rhonda

[dcantin]

Thanks Rhonda,
I am also looking at FastBroker because it has ECN.

I am very new to all this and I am finding a lot of negative information about forex brokers.

I would like to set up a live account to trader some of the things on the position trader but I am not ready to do my own trades. I am pushing the button but I am not consistently successful.
Denise
EUR/USD

[dcantin]

Hi Again Rhonda,
How do I find the "Gain" you are referring to for the free feed?
Thanks for your help.
Denise

[CollonFox]

Netdanai has a charting application on its web site that allows overlays of different pairs. this is useful to correlate pairs and see differences.

http://netdania.com/Products/live-streaming-currency-exchange-rates/real-time-forex-charts/FinanceChart.aspx?m=c

Click a little pin button to undock the chart and then expand to full screen for a better view. Right click on the chart to add a second pair and be sure to click on the Overlay check box when adding the second pair.

This is also useful when you are away from your computer since the information is stored on the web not a downloadable application.

enjoy
stalking eur/ usd and gbp usd

[AussieSue]

We will be offering suggestions soon. Thanks for patience

Hi Joe, First day to Forex Mastery....just saw this and looked for more suggestions from on a Broker and Platform could not see any....maybe missed it.
Anyway do you have a preferred Broker and Platform....I already have an account set up with Halifax for Meta Trader will this do....I would like to use the most preferred broker as you are there and know them.

Thanks Sue

[Ausgra]

Like AussieSue, it's my first day also! Very excited about the Forex Mastery Applications - So hello to all the OU community out there... my position is similar to AussieSue in that I already use Halifax Investment Services as a broker and I also operate on a Meta trader4 platform - the query I have is: Should I continue to use Halifax and do I need to download the Meta Trader4 platform again to run the Forex Mastery application??

I realise you have all been extremely busy launching Forex Mastery, but hopefully, that has passed sufficiently for you to respond

Cheers, Ausgra

[roorkRex73]

Why do many people recommend not to trade individually and commit your capital to other brokers?