Where to Go? Manual or Automatic Platforms?

[forexlady101 10]

Hey everybody,

 

I'm new to this and I guess i'm the definition of this forum section: wnat to star trading and don't know how to start".

 

I see a lot of automatic platfom advertising, Zulu, Eltoro, Ninja, Tradecopier...

What you guys think of those? Is that a way to go for a newbie?

 

Thanks a lot

[xioxxio 10]

This is a tough question and it depends on your personality. Automated is easier emotionally since you don't make the decisions. My

[SIUYA 11]

I would start with a discretionary trading platform, mainly because if you dont understand how or why this element of it works, then understanding how or why an automated system works might be a lot more difficult.

Then use automation to replicate a successful discretionary strategy.

[forexlady101 10]

Thanks guys, that makes sense!

And what about signal providers and EA, can we trust on the "top 100 charts" we can find in those sites (etoro, tradecopier, whatever)?

 

Thanks

[4EverMaAT 10]

I would start with a discretionary trading platform, mainly because if you dont understand how or why this element of it works, then understanding how or why an automated system works might be a lot more difficult.

Then use automation to replicate a successful discretionary strategy.

 

Not sure if the OP is referring to purchasing or leasing a platform, but you do have a point Siuya. I think sierra chart is still one of the cheapest paid charting platforms where you can get free historical data. Judging by the username of OP, then they will probably be dealing with Metatrader 4/5, which is free to the end user anyway.

 

Honestly, i don't know how in this day and age how a charting platform would not come with some kind of programming language and be competitive. Too many "free" platforms or low cost platforms already do "charting-only" well.

 

Additionally, there is a tool called ForexTester which would allow you to practice over the weekend with replay (best to have tick historical data). I think openEcry has something similar, but you can only go back 1-3 weeks. Better than nothing

 

Thanks guys, that makes sense!

And what about signal providers and EA, can we trust on the "top 100 charts" we can find in those sites (etoro, tradecopier, whatever)?

 

Thanks

 

It's up to you to evaluate and make decisions.

[forexlady101 10]

Thanks.

I know that is up to me, I was just asking the terms to make a decision, ways of better evaluating experts. For instance, not following traders with less than six month trading seems smart, won't you think?

 

Anyway, I'm trying tradecopier demo and doing so-so for the time being...

[gavind 11]

My advice here is to practice with a demo version first, then step it up a notch by doing copy trading. So you would see how trades work in real time.