Hmmm. Tough decision need help here: MT4 orTradingstation 2

Trading Tech and Tools
1

Greetings to all! As a newbie to the Forex world, I’v been demo trading on TradingStation 2 with ATC brokers for months. Thinking about going live recently. Hoooooray!

Since TradingStation 2 and MT4 are the [B]only 2 platforms[/B] that the broker provides, gotta choose one, right?
Here’s some ideas about both. Please provide your valuable opinions to help me out to eventually choose 1 :smiley:

Tried out MT4 for 3 weeks. Actually didn't quite get used to the chart scroll control. (Not as convenient as playing with charts on TradingStation2---zoom in/out and switch the time frames,  ).

However, EAs and trillions of indicators available anywhere are what really make MT4 standout. And trend lines,too, I would say.
On the other hand, I personally think TradingStation 2 has more user-friendly interface. But it is provided by one company and mainly used by several brokers so I guess it is not as open-source as MT4 (open-source always make ppl feel safer to use, right? No black-box operations)

Above is my personal opinions from just a short period of demo trading. Anyone have some ideas about the pros/cons for either platform? Please share your own thought and help the newbie :smiley: Thanks a lot guys!

2

I believe 90% of Retail traders use Metatrader.

3

Hi mastergunner,
The popularity is no doubt in favor of MT. It’s just after demo with TradingStaion for month, switching to charting on MT4 makes me feel kinda… stiffy…
Could you provide more info about the pro/cons of both?

4

Simple advice to give you is use the platform that is convenient for you to trade. Imo both these platforms are very good.

5

I think that MT4 is supposed to be more laggy because of the queuing system it uses for orders.

6

Thanks for advice. decided to go with ts2 :smiley:

7

Good choice of a broker, by far one of the best brokers out there compared to most bucket shops from some small unregulated island.

I also use TS2 and think it is much better than MT4 which unless you want to run an EA it really hasn’t got much going for it. It was originally intended for market makers not an ecn so another words it’s an out of date piece of junk!

Good luck with your training.

8

Hahahahahaha, that is a big heap of … Well, I am curious why you think that…

Anyway, when you happy with TS2, go for it… But there are reasons why most traders go for MT4.

TS2 looks sexier, but I am not in the game to have a sexier chart.

9

Most traders use MT4 because that is all that is available to them and they have tiny retail accounts. I am far from having an institutional account but I still am a full time trader and I personally think MT4 is junk. It came out in 2005 so it isn’t exactly cutting edge technology. Oh wait thats right they now have MT5 which is apparently amazingly just the same!

Each to their own I guess.

All the best with your trading.

10

Hahahahahaha, that is a big heap of …

Anyway, I keep on using it because the platforms for ECN are often crap. I know MT4 and stick on using it…

So let us agree to disagree… As FT colleagues…:slight_smile:

11

Thanks cames75.
Yeah I chose atc after months of demo and reviewing numbers of opinions. They do provide pretty good service and price.

I’m pretty happy with the commission that equals about 0.1 pip while you get 2 pips smaller spread.

So far mostly scalping but occasionally holding position for days/no longer than a week.

12

Well, I guess the unlimited resources attracted lots of traders to use mt4. It is better for communication I think. Unlike ts2, you are like… on you own.

Agree that as ft colleagues we are mutual friends :D, especially here as babypip mates.

13

I am sorry, are you insulting me personally here?

14

I’m sorry if I used the wrong words that caused misunderstanding. Didn’t mean to make any offense at all. I should have phrased" On TS2, one is trading with less communication with other brilliant brains out there. That’s the disadvantage of TS2 compared to MT4". I don’t know if I made it clear enough. :34:

16

yeah I just noticed I made a grammar mistake. By"unlike ts2,…" I was actually trying to say traders that using ts2 are more one their own because the lack of shared resources. Again, sorry for confusing.