Why is MT4 monopolizing the Forex Biz?

Triantus Shango

Sergeant Major
Messages
1,372
there is way better out there in terms of UI/UX:

tradingview.com (free)
Sierra Chart ($20 or so a month)
TeleTrader (cheap as well)
TradeStation (cheap too)
eSignal (not cheap ;-))
ProRealTime by IT-Finance.com (ok, but with less built-in technical indicators, easy to script but scripting environment has some limitations so that's not the strong suit; fast order entry and order management from the chart is a plus; provided by Interdin upon account creation; LMAX gives access to a more limited version of the app)
NinjaTrader, although... anyways ;-)

I am a huge MT4 fan. Can't think about another platform for the moment. I am really happy about the tools/functions,etc.
 

Pharaoh

Colonel
Messages
19,957
I've begun seeing cTrader spreading to a few more brokers. I believe that the client side of it is free.
 

Rambo35

Corporal
Messages
280
Bad brokers like it since they can abuse it to cheat.

Good brokers like it since so many clients demand it.

+1 on that. I do think that MT5 so far is a terrible platform and I think over time we will be forced to MT5 and it will be interesting how retail traders react.
 

FringFX

Sergeant
Messages
391
I've begun seeing cTrader spreading to a few more brokers. I believe that the client side of it is free.
Yeah, I've tried it. i must admit the default charting template of cTrader looks awesome, unlike MT4's default. :p
 

Triantus Shango

Sergeant Major
Messages
1,372
forget MT4. instead check out this:

quantumcharts.com

and

tradingview.com
Sierra Chart
TeleTrader
TradeStation
eSignal
ProRealTime by IT-Finance.com
NinjaTrader

Hello Seniors

MT4 can automatically handle trades by monitoring the market second by second but since I am still not used it practically, can you please tell me whether you guys put instructions here? For example buy when the prices reach this or sell when the price is as such etc. ! or how it works? Is it possible to understand how it works before going live trade? I am currently practicing a demo offered by Oanda since I am a newbie and feel that I need time to start live trades.
 

Triantus Shango

Sergeant Major
Messages
1,372
which among those are you using currently? I presume you continually test such platforms.


goddam it!!! i will never use firefox ever again! i just inadvertently hit COMMAND-LEFT_ARROW before saving what i was writing, which brought me to the previous page and when i clicked the right arrow button to come back to the editing page there was nothing saved! i lost everything i wrote for the past 20 minutes! Google Chrome doesn't do that. FUC# YOU firefox!

ok, now let's see if i can remember what i was saying:

i now use tradingview.com and Sierra Chart. the former for redundancy purposes, as a fallback solution when the primary feed goes down, or Windows decides it is not a professional operating system and just starts doing whatever the fu#k Microsoft engineers in their benighted wisdom think is appropriate for an OS to do, such as delete files randomly, corrupt data, especially the registry, or just crash in the middle of an important task withough having saved any system state snaphot at all! (Windows fan boys stop right there: Linux, Unix, and Mac OSX have proven time and again to be more reliable and secure. so go fu#k yourselves. ok, i am pissed off today. happens.)

back to the point. the main charting app i use is Sierra Chart because:

1- provides my broker's feed (LMAX) and an additional feed from Sierra, both with historical and intraday data, hence another level of redundancy should my broker's data get screwy somehow (that is also the reason why you want to trade with a broker that gives you an order entry platform that only does order entry and no charting, and usually that stays up and gives you a DOM 24/6 so if one or more of the feeds coming through the chart app disappear, you can still manage your trades);

2- it provides an intuitive and fast UI, i.e. let's you manipulate the charts quickly (i am a scalper, so QUICK is important for me);

3- provides 2 indicators--and this may sound as hyperbole, but so be it--that i deem absolutely essential; of course, i could code them myself, or perhaps hunt them down on the net, but then i would have to trust that whoever wrote them didn't make an error; instead, with Sierra, here there are, available by defaul and working the way they should because the team of engineers at Sierra apparently know what they are doing;

4- indicators are not written in some sub-par scripting language and are not run on a deficient scripting engine such as the one that's inside MT4, hence you get a better user experience (UX) as there is no sucky scripting engine that will misuse and waste unnecessary CPU and memory resources; result: more speed and a more responsive UI;

5- let's me manage orders from the chart quickly;

6- gives me a full set of professional order types to choose from that are not available on MT4;

7- gives me a Time-Price Opportunity (TPO) chart built-in: TPO Profile Charts - Sierra Chart ;

8- great and speedy support;

9- and sure, it is cheap too, so why not when considering all the above; it's hard to beat such a deal.

what i do not like about it though is the on chart-DOM: just horrible UI! doesn't scale properly with the main price chart and as a result it is totally illegible. but you can always bring up the DOM in an independent window and that works fine.

NOW all this being said, i am extremely curious about NeuroShell in conjunction with Ehlers's MESA tools only available on eSignal. but since what i have works and i have literally almost no time to study NeuroShell, i have postponed getting into it. but curiosity will get the better of me, i know it, so some day i'll be probably ranting about that too. ;)

and i forgot the other stuff i had written... probably some rant about some other software package as i vaguely remember something about ProRealTime and Interdin.com. ah yes! Interdin.com totally pisses me off--but that is so off topic with your question, perhaps i should post it somewhere and somewhen else.

all the best.
 
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