So what am I missing?

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So what am I missing?

Postby celtics2 » Thu Oct 08, 2009 9:44 pm

What am I missing trading with FXTrading Station and not MT4? I live in the US but have a UK broker for it's beneficial reasons. Such as no 1st in 1st out or I can use stops anytime during the trade with a Pair. Closing out is simple. Taxes are simpler, no 1099's, no Schedule D to mess with. Just ad as other income on 1040. With all that said and being a new trader to Forex I see there are some advantages with indicators. I would like to toy with some like the Pip Range per pairs for certain periods. Or the wick count I see on the bottom of some charts.

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Postby noone22 » Fri Oct 09, 2009 11:47 am

You can trade (place orders) with any broker
and any software of your choice.

And open MT4 charts in the next window
(for indicators, price monitoring, etc) just as a visual help.
MT4 is free to get (but not free - to learn) -
what you have to miss?

Agree, it's much more convinient to have all trading done
via the same tool and via good ECN broker.
Unfortunately, perfect one
(combining all good features altogether):
- small spreads
- good charts
- quantity of free indicators avaialble
- free (or cheap) charting software
- easy order entry & management
- etc

doesn't exist yet.

MBT is the best broker,
but their MBT Trading navigator is missing some key things.

Ninjatrader has the best trading DOM, but is not
much indicators avaialble. And you need to pay $1,000
for licence of NJtrader

TradeStation has the best charts and some good free indicator stuff,
their trading matrix is rather good, but they're not ECN broker,
and far from good broker at all

MT4 is rather good, and TRO is programming purely
in mq4 now, but to trade via MT4 broker -
is not the best excersice, if you're scalping for 5 pips
(you cannot physically do this with some MT4 brokers at all)

So, people selecting acceptable combos,
one of the known is MBT Navigator for trades
and MT4 (from any broker - Alpari would do) for
charts & indicators

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