Using another charting software than brokers?

Beginner Questions
1

My issue is, I am choosing GFT as my broker but their Dealbook android app does not have all of the features on the chart that I need. They also don’t have an MT4 mobile application either. Mainly 4H charts, and the ability to see exact values of indicators such as ATR.

Is it a good or stupid idea to use another software on my phone for charting, and use the Dealbook app to execute the trade? Is there one you would recommend? Or is doing something like this not recommended because there could be discrepancies between the GFT chart values and another chart software I am using?

I need it to operate on android, so that I can monitor/make trades while I am at work.

Thanks in advance

2

laptop running the right software, use android phone to tether if you can’t get past firewalls using work’s network connection. that’s how i did it.

3

Well the issue is not technical, I can install software on my work computer since I have admin privileges and I can use the dealbook web interface, but I’d rather not use my work computer for these things. Its not worth putting my job in jeopardy especially since we have an open format office, aka no cubicles just desks where everyone can see everyone else’s computer.

4

in that case, i think that the shorter your expected trade timeframe (from entry to exit), the worse this idea is.

maybe instead try trading a different time slot from home? or just trade during a 1hr lunch break from your personal laptop. in a way, unfortunately i can’t relate since when i did that at work, i had a semi-private cubicle (along a wall with only one coworker nearby) and did the trading from my own separate laptop+iphone tether setup. and now i do it full-time (aka quit that job)

5

I trade on the 4hr and use 1hr for more pin point entry. I’m hoping it won’t be that much different between using two different broker charts.

By the way, how long did you trade before you went full time? That is my goal, to be a full time trader, and in my free time volunteer places.

6

with those timeframes, you’d probably see next to no difference - but maybe try it on a tiny position just to be sure.

i traded stocks for nearly 2 years, then FX for 1 year before going to FX full time (a year ago).

7

I use charting that is separate from my broker, I use the price from my charting package to enter trades with my broker and have never had a problem. However, I would not advocate trading from your 'phone (if I am reading you correctly, apologies if not), as I’d query whether you can get enough context on there, could you see enough of the chart? Not saying that it is impossible, and I know that it is none of my business, but I couldn’t trade effectively off charts on my 'phone, I don’t think. An iPad is about as small as I like to go for my charting.

ST

8

Can I ask what charting package you use? I’ve been demo trading almost primarily on my phone for a couple months now. Its not as bad as it sounds, maybe because this is what I’ve forced myself to use. With the ability to zoom in and out, I can see anything I need to, an since I use naked charts and price action strategies,(ATR only for TP and SL) I don’t need a monitor full of indicators.

I do however use my computer at home sometimes in the morning and at night when I get home from work, but most trade execution is done through my phone.

9

I analyze charts using Trade Interceptor on my iPhone, and iPad. I believe that they have a version for the android phones too.
It is bar none the best mobile charting solution out there.
I analyze with Trade Interceptor and then actually make the trades with Oanda’s iPhone app when I am out and about.

10

Just thought I’d reinforce the last note. Tradeintercepter is awesome on an Android phone.

11

Great. I think I’ll check it out now! Thanks everyone.

Can I ask, what time frames you look at?

12

I look at daily to see if price is near any important s/r zones, then go to the 4hr and mark any significant highs, lows, and then look at the hourly and actually make my trades based on the. 15minute. Almost never go below that. (except to look at how price is behaving when it slams into a pivot point)

13

Me? Absolultely, of course you can ask. I use eSignal for my charting, I generally trade from a laptop hooked up to a separate keyboard and a couple of extra screens, when overseas on holiday or whatever I just take the laptop with me, but if I am in transit and need to look in on things then I use the iPad. I have an iPhone with various Apps etc but as I am predominantly a swing trader, I prefer to see a lot of PA on my screen at one moment when initially framing the context of a trade. I guess the Daily is my most common timeframe, but I use anything from the Hourly up to the Monthly pretty regularly, and am an occasional 5 minute chart user.

14

Thanks for all the help everyone. I’ve been studying for almost 6 hours a day for months now, and demo trading my system with success. Should be going live within the next coulpe weeks. Wish me luck!