# Best Forex software!??



## Jeppo (10 July 2008)

please leave your opinions! 

so far have looked at tradestation,FXCM and metatrader.


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## wabbit (10 July 2008)

What is the criteria to determine "best"?

Personally I like MT4 (soon to be MT5).  I like the programming interface and the scripting language.  It's fast and stable.  You can be trading on multiple accounts simultaneously from different terminal sessions.  I don't like some of the internal distributions of functions/functionality in the file system.

It's nearly bullet proof, but not quite idiot proof.


wabbit


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## BentRod (10 July 2008)

The beauty of Forex is most of the data is Free(including live data)

As for the software to display the data, how long is a piece of string?

I agree with Wabbit , MT4 is pretty good and has a wide user base who share their idea's, plenty of other options though.


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## Steve_QS (10 July 2008)

iv been using the the demo account with FXCM which i think is the tradestation platform im guessing? seems pretty good the only bad thing about it is. It always asks you to confirm your order. so you do generally get slip and can loose 1 or 2 pips in the process. which really sucks. is MT4 what you see is what you get?? and doesn't question your order etc and puts it straight through.


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## tayser (10 July 2008)

MT4 is great for charting - so many people freely code for MT4 its not funny.

I'm a big fan of NinjaTrader too.


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## >Apocalypto< (10 July 2008)

With all u guys on Metatrader4 great platform, use it every day. 

I also use GFT DealBook360 also very good.


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## Jeppo (16 July 2008)

MetaTrader 4 it is then!!. Who would like to send me their setup so i can backtest!?


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## tayser (16 July 2008)

Jeppo said:


> MetaTrader 4 it is then!!. Who would like to send me their setup so i can backtest!?




go to Forexfactory's forum - there's countless systems there which you can grab and play with yourself.


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## gilsterasx (18 July 2008)

Hi everyone, first time threader here ....

I have used GFT Demo for the past 30 days, interface is fantastic and when ordering a packet the ORDER REQUEST appears with a live price on the REQUEST BOX, so once you CLICK the GO button, the transaction is done in an instant. NICE touch and to apply/remove the numerous studies on prices is so easy, I like it as a first time FX/Indices trader.

regards


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## gfresh (23 July 2008)

Just a quick question on EFX: I have got a demo account, installed the EFX Navigator and trying to get it to work for a few demo trades, however when I click to place an order, I get "Failed to submit order: Account is not permissioned for Forex". 

Err.. it's a demo account! However I seem to have my trial balance sitting there. Any ideas what I have missed?


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## zman (24 July 2008)

Hi gfresh,

Make sure you're using MBT Navigator version 11.1.0.2. You can download it from http://www.mbtrading.com/download.asp. The previous version of MBT Navigator seems to have stopped working with demo accounts since the release of 11.1.0.2.

Cheers, Zman


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## gfresh (26 July 2008)

Thanks zman, it appears this is the case. Installed the latest version of MBT navigator and all appears fine.


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## Seneca60BC (31 August 2008)

BentRod said:


> The beauty of Forex is most of the data is Free(including live data)
> 
> As for the software to display the data, how long is a piece of string?
> 
> I agree with Wabbit , MT4 is pretty good and has a wide user base who share their idea's, plenty of other options though.




Hi

Can you please tell me where I can get this free data?

Thanks


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## tayser (31 August 2008)

you sign up for a demo with any of the brokers who offer it.

http://www.odlsecurities.com/ is one of the big MT4 providers.


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## Page (25 February 2009)

Have a look to the site as well.
it's not that much impressive but it's good. 
http://www.ninjatrader.com/webnew/trading_software_overview.htm


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## WesleyTrader (10 November 2009)

I think MT4 is the best, it is user friendly... focus on the client  charting terminal makes it more attractive and user friendly


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## cashflow_08 (10 November 2009)

I agree with Wesley. Mt4 is free to use and easy to get indicators or customise an indicator which is hard to get in other platforms. I use mt4 for intraday trading.
And Ninja-trader is excellent for scalping due to the ease of the tools provided and the layout of the platform.

Cheers


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## lasty (10 November 2009)

cashflow_08 said:


> I agree with Wesley. Mt4 is free to use and easy to get indicators or customise an indicator which is hard to get in other platforms. I use mt4 for intraday trading.
> And Ninja-trader is excellent for scalping due to the ease of the tools provided and the layout of the platform.
> 
> Cheers




The best forex software is your ears.


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## >Apocalypto< (10 November 2009)

lasty said:


> The best forex software is your ears.




LOL,

I would love to see your ears give you a two way quote and allow you to trade off it.


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## Wysiwyg (10 November 2009)

lasty said:


> The best forex software is your ears.



I agree. My lobes have a pronounced twitch when over-bought situations are present.


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## lasty (11 November 2009)

>Apocalypto< said:


> LOL,
> 
> I would love to see your ears give you a two way quote and allow you to trade off it.




ah but they have...

In my world as well as using 50:50 and ask the audience, I also phone a friend.


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## CFD (24 November 2009)

lasty said:


> The best forex software is your ears.




Did you mean between your ears!


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## lasty (24 November 2009)

CFD said:


> Did you mean between your ears!




No ... Hear what is going on...
Everyone has charts and are more or less viewing the same thing.
Not really an edge.
Try listening to someone who knows more than a few chart points and you might have a better chance of survival.


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## Knoxy (9 December 2009)

Disagree completely about using your ears, that way lies ruin. I only became profitable when I stopped listening to rumour, other peoples ideas etc etc. It's too easy to be bombarded with nonsense and get emotionally involved in trying to decide what's wrong or right.

The truth is in the chart, find the way that visually makes sense to you. Use only your eyes realising any edge is going to be small and that losing trades are inevitable.

Knoxy


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## lasty (9 December 2009)

Knoxy said:


> Disagree completely about using your ears, that way lies ruin. I only became profitable when I stopped listening to rumour, other peoples ideas etc etc. It's too easy to be bombarded with nonsense and get emotionally involved in trying to decide what's wrong or right.
> 
> The truth is in the chart, find the way that visually makes sense to you. Use only your eyes realising any edge is going to be small and that losing trades are inevitable.
> 
> Knoxy




Ahhh there lies the difference between you and me, Knoxy.
I actually listen to people "in the know" where as you will try and second guess a chart.

Just remember "Every sunken ship has a chartroom" !


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## Knoxy (9 December 2009)

Technical analysts believe that all that can be known is contained in the chart. Therefore if you believe in TA then to "talk to those in the know", the chart is the expert. 

If a trader has a different philosophy that works then that's fine. I'm saying that for me price action is more important than anything else. My profitability in Forex over the last 6 years has come from price action, my largest single loss was when I believed all analysts and myself that the AUDUSD was topping at 0.83 in May 07. I painfully learned not to be wedded to a view, mine or anyone elses.

cheers
Knoxy


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## lasty (9 December 2009)

Knoxy said:


> Technical analysts believe that all that can be known is contained in the chart. Therefore if you believe in TA then to "talk to those in the know", the chart is the expert.
> 
> If a trader has a different philosophy that works then that's fine. I'm saying that for me price action is more important than anything else. My profitability in Forex over the last 6 years has come from price action, my largest single loss was when I believed all analysts and myself that the AUDUSD was topping at 0.83 in May 07. I painfully learned not to be wedded to a view, mine or anyone elses.
> 
> ...




"Technical analysts believe that all that can be known is contained in the chart."
No surprises there.They are paid to say that.

You search for the price action via a chart.
I search for whats about to cause the price action.


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## Knoxy (9 December 2009)

Hi Lasty,

I'm not trying to get at you in any way, philosophical disagreement is healthy. I'm a TA and the only way I'm paid is through my trades. 

Looking for the reasons behind the action seems more of an investor than a trader mindset. I'm comfortable being a trader, don't need to know why to make money.

On the thread topic, I believe the best software has to have good backtest abilities so I'd vote for Tradestation or the cheaper clone MCFX. Ironically I use MT4 now, even though the backtesting really sucks, just comfortable with my method so no need to pay platform fees.


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## >Apocalypto< (9 December 2009)

lasty said:


> I search for whats about to cause the price action.




unless it's a major news release that could smash you as you are just about to take a position, who cares what causes it.... just trade the signals it shows you.....

each to their own.......


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## Profit Scenario (9 December 2009)

lasty said:


> You search for the price action via a chart.
> I search for whats about to cause the price action.




In my opinion if you have your tested, proven lucrative strategy and its signal comes you don't have a 'right' to analyze it again. All you have to do is just to decide that if it matches the criterias or not. If you find it a valid signal you must trade it regardless the reason that made it evolved.

Technical Analysis deals with price actions not the reason behind them IMO.


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## MS+Tradesim (9 December 2009)

Why do I smell spam coming?


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## >Apocalypto< (9 December 2009)

Profit Scenario said:


> In my opinion if you have your tested, proven lucrative strategy and its signal comes you don't have a 'right' to analyze it again. All you have to do is just to decide that if it matches the criterias or not. If you find it a valid signal you must trade it regardless the reason that made it evolved.
> 
> Technical Analysis deals with price actions not the reason behind them IMO.




Excellent post!!!! 

Couldn't agree more, ProfitS this is exactly the ideals I trade to..... :iagree:


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## DB008 (10 December 2009)

Tradestation looks one of the best in terms of analyzing markets. Has anyone else seen the TTM's tool on other software? If so, please tell me. l think that the TTM's (when used correctly) are a good one to have on your side.
But, can't get a demo version with some play money anywhere.


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## lasty (10 December 2009)

Knoxy said:


> Hi Lasty,
> 
> I'm not trying to get at you in any way, philosophical disagreement is healthy. I'm a TA and the only way I'm paid is through my trades.
> 
> ...





Thats fine and good luck to you but I prefer to get the heads up eg. knock out options or whats going to occur at the fix in Tokyo so I can position myself on the day.


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## Knoxy (10 December 2009)

DB008 said:


> Tradestation Has anyone else seen the TTM's tool on other software? If so, please tell me.




Clones of TTM tools are available for MT4, often with different names. I have BBSqueeze somewhere, will post where I found it when back at my trading machine as I know they cloned the whole suite.


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## nseforex (20 December 2009)

e-signal Real-Time, Accurate Market Quotes & Analysis


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## RoyalTrader (28 January 2010)

Im using MT4 on FXCM (Australia).. for 2 reasons. 1. MT4 supports EAs (automatic traders/expert advisors) and 2. FXCM provided me with a free VPN. I haven't traded manually because I'm not confident enough.. in the future I want to though.. and yeah I read that the next version of MT4.. MT5 will have commodity trading.. amongst other things


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