Hey Guys,
Anyone of you using TV for placing trades? I am learning MT5 but it’s not as good as TradingView (TV). I find TV very easy to place trades and calculating profit and loss on trades. let me know if there are MT5 plugins that can do same
thanks
Sal
I think it’s best to stick with whatever is working for you. If you get a lot of value from TradingView, which is one of the most popular used charting tools amongst the traders I’ve had convos with, then just stick with it. I use TV just for charting, and place trades on my MT4 application via my laptop or mobile (traders way as the broker)
I like their charting package and have linked my Oanda account to it. I still use the Oanda site to place the trades, however. The trades do show up on the TV charts, regardless.
it’s actually Trading View.
I’m using an Oanda demo account that relies on TradingView charts. And so, yea, I’m placing trades using TV. Haven’t used MT4 or MT5 that much, so can’t help there. But I like TV a lot.
Oanda no - but it doesn’t matter, and they’re a lot more honest and reliable than many brokers who say they are NDD
FXCM no - but they say they are, because they’re liars, which is exactly why they got kicked out of the US and are no longer trading there, they were deceiving all their customers about that very point, the regulators said
don’t be fooled by all the talk about “NDD” and “STP” and all the other abbreviations counterparty brokers try to fool their customers with
it isn’t important, really - what matters is whether they’re honest
Oanda is, and regulators worldwide have been saying for as long as anyone can remember that FXCM isn’t, and they’ve been fined multiple millions, many times, worldwide, for that reason
Oanda’s “advanced charting” is a white label version of TradingView
thanks for good words about oanda. but I am trading USDJPY and oanda and forex.com spreads are way too high on this. and yes, TV is so easy to use. I love it
Hi sach_nyc,
FXCM uses enhanced execution which is a hybrid of both NDD and DD execution. What ultimately matters to traders is the quality of execution they receive on their order. There may be instances when an order executed via NDD may provide the best available execution experience, and there may be instances when an order executed via DD may provide the best available execution experience. Our enhanced execution model now offsets client trades via whichever method that provides the best execution experience.
If you look at the progression of execution models since the early days of the forex industry, most brokers, including FXCM, started as a dealing desk only broker with the broker choosing to hold the other side of the trade or offset net positioning. But the model had drawbacks, particularly for traders wanting to scalp which led to re-quotes and order restrictions. FXCM pioneered the NDD model in the late 2000’s as an alternative which hedged orders one for one with liquidity providers. This allowed traders to use any strategy, including scalping strategies, without the fear of broker re-quotes or order restrictions. However, the model is dependent on liquidity providers being there to provide quality liquidity even during illiquid periods such as news events. It’s not perfect either. Fast forward to the present, and we now believe the next step to improve our traders execution is for a hybrid of the two. The best of both worlds.
We release execution stats on a monthly basis here which you can compare against other brokers.*
Jason
*Past performance is not indicative of future results. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79.79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
I use both and totally agree with you, TV is way easier to use for placing orders.
I’ve looked for MT4 scripts, indicators and or EAs to make ordering easier but have not found anything that’s not like ten years old and unsupported.