Hello guys
Iāve read a lot about algos, and I doubt they can be efficient in the long run. Bots do not use fundamentals and psychological impact on the price action. Itās possible to trade in one way for some time, but what if market conditions change? I prefer manual trading, and cTrader is a much more powerful tool for that.
At some point, youāll see the advantages of algo trading. You can open the analytics section of cTrader, monitor your performance and find the most effective solutions youāve made previously. Match them with the indicators you used, and youāll get the basic part of your algorithm. The rest is easy. Donāt forget to backtest the bot.
Honestly, MT4 is too outdated now so I would advice you to start with Ctrader or you can also try Act trader and that is my new favorite. But at the end it is all your choice and liking. You can try demo accounts for the surety.
C trader better than mt5?
I think an alternative solution to algo-trading and manual trading can be copy-trading. That allows you to diversificate risks exposed to personal mistakes or algorithm inconveniences. For instance, cTrader COPY section offers a wide range of traders (strategy providers) with a proven track record and calculated ROI. The software shows drawdowns, average holding time per position, profit-to-loss ratio, and other statistical data of strategy providers.
Thatās a great idea, especially given the fact that cTrader has a cross-broker option to choose traders who get a personal cTID right after registering. But Iām not sure if all of the cTrader brokers support that function as thereās a danger of losing clients to other brokers, no?
well Jess i have used both of them. but since last 5 years im using ctrader(pepperstone). and i would say its much easier for the updated generation. as i am using it since it started i have been seen their updates and all. so i can say its the future platform for forex. those who r still on mt4 , i guess they get used to with it and dont like to try different things. u can see ur monthly growth, easy technical stuff , customize ur settings and lots of more on ctrader. but i would say u have to take both shots to see which suits u ( that is more important ).
Iāve personally only used mt4 and itās nice and straightforward once you know what youāre doing.
The copy-trade function has a great feature in cTrader. Imagine you donāt have enough equity to follow a strategy provider, so you can do that in a proportional way by limiting the maximum trading volume for open positions.
When it comes to brokers, cTrader saves all of the history of transactions on a separate resource, so all of them can be checked to get a proven track record.
Itās also possible to become a strategy provider for other traders in cTrader. THe platform allows you to create a personal link and invite people to follow you automatically. This can be combined with affiliate programs with different brokers to get an additional income from placing the trading volume.
As a beginner in trading and using a demo account, I agree that the MT4 is an excellent platform because it is easier to learn and simple to use with various strategies?
The copy-trade solution is great to combine manual trading and auto-trading. So anyone can develop an algorithm, launch it to get the track record and keep trading manually at the same time. Iām not quite sure about how the statistics of the trading history will look like in that case. A mixed performance would not be attractive for other traders, but still, if the result is in profit, then why not follow such a trader?
The number of brokers supporting cTrader is growing. I have even seen some companies that do not offer any alternative as cTrader is an out-of-the-box solution for brokers and for traders. The combination of copy-trade and automation sections together with the range of useful features for manual trading make the cTrader platform outstanding.
None of the brokers I use have it though
How do you guys like the additional type of postponed orders in the cTrader platform? I mean I have never seen a stop-limit order in other platforms, as well as never used it before. Do you think this function might be useful?
I think everyone has their own opinion but I personally prefer MT4 over MT5 or Ctrader
Oh, thatās a great feature. Imagine a volatile market , and youāre planning to open a trade say when the price drops to a certain level. Some kind of a breakthrough strategy. But thereās a chance that the platform wonāt open a sell stop order just because of the volatility. In cTrader, you can set a postponed order within a range of prices that is acceptable for you. If not executed, you can set an expiration time. Useful stuff to plan your trading.
more user friendly?
I agree that everyone has a personal opinion. As for me, cTrader is user friendly as well, while the number of functions for market research and manual trading is much higher compared to MT4.
Coming back to stop-limit orders, can you please tell me how you define an acceptable range for the entry price? I mean it could be different depending on currency pairs, no?