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 Trading Platform
 
 2/6/2007 7:04:44 AM
User is offlineskylar
6 posts


Trading Platform
Please help me to choose a trading frame. Please explain when to start a trade and when to close it? I think this is standard on all of them. Moreover what time frame should I maintain so that I can set it say at 10:30am the next day to get out of my trade no matter what.

Is there any that can do this because I could not find one that does this?
 2/6/2007 9:44:41 AM
User is offlinerylan
6 posts


Re: Trading Platform
Please better start with the programmable one's lke Metatrader.

I must say I can't think of any reason why that would be an important consideration. Have a note that you are not suffering from losses, like some seems to have a masochistic pleasure to propagate. The best time to quit a trade is when you have made enough profits.
Maybe you can point me in the right direction.
 2/7/2007 10:13:33 AM
User is offlineBrianTran
155 posts
5th




Re: Trading Platform
There are plenty of options out there to choose, from free ones (mostly provided by your brokers) and paid subscriptions. Depending on the needs of each trader but the basics are usually more than enough for anyone unless the strategy requires uncommon indicators and settings that a special platform is required. These can be MetaTrader, eSignal and Tradestation, Visual Chart and a few others where a user can program his own indicators, create and test his ideas into strategies. This is for someone who has programming experience or willing to learn to program.

As for using timeframes, the standards are 5-, 10-, and 15-minute charts for scalping or time entries and exits. The next higher up is 30-, 60-, 120-, and 240-minute charts. Then of course the daily, weekly and monthly charts for bigger picture of the landcape. I personally use 60- and 240-minute charts for swing trades and 15-minute for timing entries and exits and daily, weekly and monthly to find important levels.

Hope this helps.
The sum is greater than its parts.
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