The Best Forex Platform

[SamiFX 0]

In last few years the Forex platforms were little on the net and nowadays we see that are increasing to handrends of platforms and with different options and offers.Just a question that a new trader will ask himself: wich is the best Platform? and Why?

[ezz 0]

Well I have been trading FOREX for more than two years now, the best platform I used was the MetaTrader, or any of it's different versions as AL Trade 4 depends on the company you are dealing with, there are so many versions as every company deals with MetaTrader is having their own platform which differs in time setting and candles opening and closing "or any time representing model", but sharing the same HUGH program options.I like MetaTrader for it's simple and easy to use tools, it's convenient and gives you what you need:* Different time frames: 1 minute, 5 minutes, 15 minutes, 30 minutes, 1 hour, 4 hours, daily, weekly and monthly time frames. And there's a trick to make any time frame you want by an indicator called: Period_Converter_Opt, that you can create ANY time frame you want, but the process is a little bit hard an needs explanation, so if you need it just tell me and I'll explain it in details. That's one of the most things I love in MetaTrader, it's customizable in many ways and you can add many things as I'll describe later.* Chart shift and auto scroll options.* Zoom in and zoom out options.* Different time representing tools as bar chart, candlestick and line chart.* Has a default set of indicators:-Trend indicators: Bollinger Bands, Commodity Channel Index, Moving Average, Parabolic SAR, Standard Deviation and average Directional Movement Index.-Oscillators: Momentum, MACD, RSI, Stochastic Oscillator, DeMarker, Bears Power, Bulls Power, Envelopes, Force Index, Average True Range, Ichimoku Kinko Hyo, Moving Average of Oscillator, Realetive Vigor Index and William's Percent Range.-Volumes: Accmulation/Distribution, Money Flow Index and On Balance Volume.-Bill Williams: Accelerator Oscillator, Alligator, Awesome Oscillator, Fractals, Gator Oscillator and Market Facilitation Index.The best part is the "Custom Indicators" where you have the ability to build your own indicator and use it within the program "or have a ready built one but doesn't exists in the default set of indicators, they are built through the unique MQL "programing language made for the MetaTrader" so you have endless options and varities of indicators.* Advancing chart drawing tools: Arrows, Vertical, horizontal and trendline, different text labeling and Fibonacci: 1-Timezone. 2- Expansion. 3- Channel. 4- Retracement. 5- Fan, and much more drawing colors and options that's really astonishing !!!* The very unique "Expert Advisors" system when you actually have the ability to design your "Auto Trading" system !!!Yes that's true, even I prefer the manual trading as a FOREX trader, but this's a tool that is beeing developed everyday, but what makes it somehow difficult that it's mainly based on "Artificial Intelligence" principle so I think it would be really advanced in the near future, the MetaTrader owner company started a competition less than two years ago for the best 3 Expert Advisor, I can tell you that the first prize was 40, 000$ !!!* Strategy Tester:When you can test any indicators or multiple indicators, and you need to have the historical data needed for such a test and it's easy to get but it's a little hard to implement.* You can use the MetaTrader as a chart system as it's FREE to use !!! this's really amazing, and so many companies use it so you can even trade in the same program and that's make the whole process easier.Although even when you open an account with any broker they mostly have their own charting system and platform, and although there's so many prgrams maybe more advanced than MetaTrader, but it stays the most used program among traders all over the world.Hope that was useful.

Edited December 16, 2007 by ezz (see edit history)

[Sandokan 0]

Maby a little stupid question but what is a Forex platform, I have never heard of it ..??Thanx

[Ouroboros 0]

Are their actual tutorials or programs out their that can help you to make money with Forex?I have seen this so many times, but have never seen a platform that would help you to figure this out?I understand a little about this as I used to trade spreads on commodities, but I would like to do this with currencies if there is something out there that would help me

[ezz 0]

Well Ouroboros, if you mean the automated systems out there that promise that you will make money if you buy it, I personally do not believe in such things, simply because if they have a real successful system that could make a fortune as most of them claim so why bothering and trying to sell this out to others? He could make money for himself through this system and that's it. As I said in the MetaTrader features you could make your own system through Expert Advisor system and this thing is in the stage of development and I believe that you can not completely depend on it, in my opinion, the only way to succeed in forex is to learn enough and demo trade enough "demo trading does not cost you money" then you can open you live account and start earning, this process takes years to become good at it, you have to be patient to do this plus you have to be aware of the risk included in this type of trading and you must trade with a money you don't need it or depend on it in your life, but eventually if you could master this thing that will be a very good source of income if you have enough good money as a start.

[cncinfotech 0]

Do you think platform is a matter ? I think first we have to look for a reliable broker. Most of forex brokerage are not honest. They looks for client money. I would suggest please search for a reliable broker who is registered with NFA or FSA. Then look their services. Ask people who are trading with them. Stop hunting and target hunting is popular in these days. Broker also want to make money. Again if you talking about platform, metatrader is great but it need dealdesk at brokerage. If your broker has dealdesk he can easily cheat you. I suggest you ecn brokerage who are more reliable then market makers. Currenex is a great platform when u dealing in forex. Their are many brokerage but when we talk about ecn, they are few. Some of them are-(1) Interactive Brokers(2) MB Trading(3) DukasCopy(4) HotspotfxOnly dukassopy and mbtrading offers 100:1 leverage while other offers low leverage. So stop finding good platform first look for reliable brokerage.

[ezz 0]

I agree cncinfotech, good broker must be your first priority, and because there is so much mess in this matter, I suggest to look for a broker that some of your friends or relatives or forums members deal with, I strongly suggest that you don't ever deal with a broker you don't know, ask first and when you find that so many people are saying good things about a certain one, then this may the way to go, also be sure to ask about everything: spread, leverage, pairs, trading in news time... etc "I don't trade at news time, it's really dangerous, some people just trade in news time but I don't", I heared some good comments about DukasCopy but I'm not sure, but your account needs to be 50,000$ at least to join them I guess,,,Good luck in your trading.

[maxpiut 0]

Hi people,just want to introduce myself on http://forums.xisto.com/, hope this is the right category for that purpose.Cheers,Max

[lmfxdaytrader 0]

I would suggest zulutrade - easy to follow, free and profitable signals and small initial investment. This is how I make money with forex

[lmfxdaytrader 0]

hello all: for those who doesnt know what zulutrade is there is an info-video on how it works: money making machine I'm telling ya...check it out:http://forums.xisto.com/no_longer_exists/

[lmfxdaytrader 0]

any zulufollowers here: do you have any traders that you like and perform great to share with me? we can all benefit from it?