Hello everyone, I’m new in Forex, I just began a couple days ago. I have been reading some things in this forum and over the internet, and I have a question, is a trading system the same as a trading platform??
I really appreciate if someone could answer me this.
Thanks and good day.
A trading platform is the software your broker gives you in which you will enter the trades and often has charting, indicators and so on, a very common one is mt4.
A trading system is “the way you trade” its what makes you decide whether to take a trade or not and all the things associated with it such as timeframe, stoploss take profit, at which point risk management starts coming in, risk management may or may not be built into the trading system.
I’m not too good at explaining but I hope that gave you some answers.
Hey thank you very much for the information I really appreciate it. So, basically the trading platform is the software, and the trading system is how I trade in order to make profit, right?
Yes exactly.
Good answer [B]Kalesh[/B]!!
oldmuppet,
One of the most commonly used trading platforms is Meta Trader 4 (MT4 for short) which you can find easily with a Google search. There are several brokers who offer MT4 for free with unlimited use.
The annoying thing, for me, about MT4 is that the time in mine is set to GMT +2 and it can’t be changed. I’m told, however, that depending on where you get it from you might get one whose time is set to GMT itself.
Good luck!
Actually Pip Bull, I just got my Mt4 today jajaja but mine is GMT+7, quite weird aaa??? Anyway i’m learning a lot with it, and I’m taking my first steps into developing my strategy. Are you experienced in forex?
Have nice trades