I’m a very green noob, so I apologize for asking such a dumb question.:o I’ve been trading for about 3 months on forex.com and fx solutions practice accounts. Based on the popularity of metatrader, I decided to open a practice account and found it completely foreign to me! Can someone tell me the pros vs. cons for metatrader vs. what I am using now. If I’m comfortable with what I’m using now, is it really that much more beneficial to use a more robust platform like metatrader? It just seems so complicated to use. Once again, sorry for the weak questions, but I just want to know how to best maximize resources that are available out there. Thanks!
When I was at the beggining it was hard to find a good platform,because every platform has his pros and cons.
But after trying I noticed, that the [B]dealbook, metatrader[/B] and maybe [B]oanda [/B]fxgame are the best(Im using all). It is also the most common on this forum. I read many threads connected to this problem, but think if you choose the metatrader, you will be very happy with it.
I think you can find more informations on the babypips forum, but definitely the metatrader is one of the best platform and Im sure many others will recommend it to you;)
I would say that MT4 (metatrader v.4) is the best. It is by far the most common amongst retail traders and it offers the most customization of any platforms you listed.
In MT4 you could use expert advisers (trading robots) You could use many different type of indicators including custom ones. You could use scripts that for example close all open orders or close partial positions.
It is extremely versatile especially considering that it is free.
And yes it will take time to learn just like anything else that is new. Make sure you spend alot of time getting comfortable with all the features and what all the buttons do.
As far as the indicators and robots don’t get to hung up on them. Just coz you can use them doesn’t necessarily mean you should.