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What's The Best Platform to Trade News Releases

Discussion in 'Beginners Bootcamp' started by mstevens30294, Aug 22, 2010.

  1. mstevens30294

    mstevens30294 Recruit

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    I been trading off and on for the past 3years trying to get back into the forex market once again. I only want to trade the News in the past I was trading off Premiere trade AI Platform not sure if this is a good platform to trade off. Can anyone tell me if this a good platform or recommend a good platform to trade Upcoming News Releases.
     
  2. I love Dow theory

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    I find the MetaTrader4 platform very quick and easy to use. I like the charting tools as well.
    I have found that London Capital Group have proved to be a helpful and honest broker too. I believe they are new on the seen though so haven't read much about them from other traders.
     
  3. Liquidreality

    Liquidreality Recruit

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    I agree MT4 is the way to go
     
  4. Pharaoh

    Pharaoh Colonel

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    I think finding a decent broker that permits news trading and that won't kill you with no-fills, slippage, and requotes is more important than what platform is used.

    That being said, I also have a personal preference for MT4. ;)
     
  5. mstevens30294

    mstevens30294 Recruit

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    Thanks everyone.
     
  6. Nico Kniestedt

    Nico Kniestedt Private

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    +1 on MT4

    Never has used anything else
     
  7. forexclues

    forexclues Private

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    I use MT4 also

    Hi everybody

    I also Use MT4 but I have a question here.

    How can one draw support and resistance lines on mt4 platform such that it wont extend too much as in something like this

    ______________

    instead of

    ______________________________________________________

    I hope u'll get what I'm saying.

    Thanks
     
  8. Pharaoh

    Pharaoh Colonel

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    I have the same issue. Personally, I'm hoping MT5 has trend lines that don't go off into infinity.
     
  9. Doug Blacklock

    Doug Blacklock Recruit

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    MT4 Order Entry:

    I''ve been out of trading for some time due to illness and deceided to get back into the forex system due to its evening and night time trading

    I too am trying to use MT4 but :- when I place a pending order (IE: buy stop or sell limit etc.) I usually get an "Invalid S/L or T/P" and I can't figure out what I'm doing wrong.

    Wny suggestions whould be very much appreciated

    Thanks "PIP LOGGER"
     
  10. Pharaoh

    Pharaoh Colonel

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    Play with MT4 on demo. That way it won't cost you anything when you hit the wrong button.

    There It's easy to get limit and stop orders confused. A Stop order is based on "If the price goes this far, I think it will keep going farther." and a Limit order is based on "If the price goes this far, I think it will reverse."

    This means that a buy stop is set up above the current price and a buy limit is set up below the current price. If you try to do it the other way, you'll get an invalid price error. There's an easy way to avoid this. Right-click on the chart near the target price you have in mind and select "Trading". It will give you either buy limit and sell stop or a buy stop and sell limit as choices.

    The other possibility is that your broker restricts how lose you can set limit and stop orders to the current price. If you are too close, you'll get an invalid price error. The rule about how close you can be varies a lot between brokerages, but is typically somewhere in the 3-15 pip range.
     

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