Hello,
I am a new trader and I have been told by a few experienced traders that I should treat trading more as a business and with every business there are expenses that I should expect to pay. Do you agree that all traders should refrain from using free software like MT4 and invest into professional trading software like eSignal 12?
Can someone please explain what exactly is the difference? Please give me your opinion and experiences.
Thank you.
Forex is OTC so different brokers have different price feeds. Unless you are using a broker that can be supported by Esignal then what would be the point. (supported brokers are IB, FXCM, MB Trading).
If you do not use one of these brokers your broker would have different data to what Esignal has so therefore you would be looking at two different set of charts. Obviously your brokers charts data is the most important as that is the one that your trades are placed on.
I sent you a message about a course a while ago as to your thoughts. It would be great if you would reply.
Cheers.
I personally use MT4 to execute and monitor my trades but use Tradingview.com to do my Technical Analysis. It’s definitely the platform for the future.
I don’t think as a new trader you should necessarily invest in a software like eSignal. There are other alternatives to MT4 which are still offered for free by brokers. There is also a range of brokers which have their own trading platform.