I am definitly going to be opening up a live account this week with $50 so I can jump in and start treading the waters right now. The reasons for doing this after 3months of learning and studying rigously for 10+ hours a day and demo trading for about a total of 1 month pretty succesfully are obvious.
Who the hell wants to put their feet in the water for 3+ months to see if it’s hot or cold…then jump in and find that they still have to learn to tread?
I am very familiar with metatrader and currently was demo trading with ODL securities…great service, great people, don’t offer micro accounts.
I know some traders use a fav platform and trade from Oanda because of super-tight spreads…and some people trade off the platform their actually using.
How do you actually go about doing this? If I were trading off a different platform and placed my order on a seperate one, would the charting package reflect same price quotes or roughly similar if I were placing live trades off another broker?
Hopefully you see were I’m coming from. I want an objective viewpoint on how you guys do this process and any other tips you may have.
Josef, all platforms will have different feeds unless they are an ECN and even then these central bank systems will have 1 of 2 possible connections and will differ. These differences can be very marked at news times or when there is active stop hunting that is going on. Remember there is no central system like there is for shares and the non ECN platforms will take there feed from perhaps 20 providers, add their spreads and at times actively trade against you. Its a jungle out there!
I just wanted to take the time to thank the two of you for your response. I decided that I am going to start with about 250 - 500. I just got a job offer, and so this will give me much more leverage to work with starting off. This forum is just the best and I value your opinions so very much.