Best Trading Platofrms and Practices: Which do you recommend?

Discussion in 'Trade Journals & Stock Tips' started by eddiemoneys, Feb 1, 2016.

  1. eddiemoneys

    eddiemoneys Well-Known Member

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    If someone is starting out, which do you feel is the best platform for them to use and/or which software to trade with?

    If someone is already experienced, which software do you feel is best to use?

    Is there anything specific you'd do differently in your approach as an investor in the market if starting over again?
     
  2. anders

    anders Well-Known Member

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    Where to begin? Honestly, I'd have done everything different, but I suppose mistakes are part of the learning process, you just don't want your mistakes to be too costly. That said, one aphorism attributed to Warren Buffet would be:

    Rule No 1: Never lose money. Rule No 2. Always remember rule No 1.

    On a more practical note, I'd have started using my own trading software earlier than I actually did. That was delayed as I didn't know enough about the subject to have even thought it possible at one point, and I'm still not good enough to code something entirely on my own, but collaborating with someone in a similar position looks like it's going to be an interesting year, fingers crossed.
     
  3. Troponin

    Troponin Guest

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    I just got in to investing on my own a few weeks ago. I got in days before the first oil crash. It sucks and it pisses me off, but I think, in the end, I have learned more from this than I would have had I gotten in just as the market crashed and made a bunch of money right off the bat. Why? Because it's forcing me to make decisions against my emotions. I am being forced to stick with several investments, knowing they will come back eventually, plus some within the year.

    I know of people that will sell every single time they see a certain % drop in stocks. I see the reasoning behind this, but why take a definitive loss every single time instead of lowering the chance you have to take a loss if you simply stick it out? If you're investing in solid companies, the risk is low.

    I am learning about fundamentals and technicals, and also realizing that people have their preferences. Some feel that using the 52 week high and lows are a good way to determine what to do, while others debate that, statistically, using 52 week highs and lows are an inaccurate way to predict what a company will do. In the end, you put all the best in the same room, and you will see that most can't agree on anything.

    I am reading two books atm, How to Beat the Street and How to Make Money in the Stock Market. They both have two completely different philosophies on investing and making predictions, and it's good to know both. It's also nice to chat with experienced investors and having specific questions answered. JR has been a long time "forum friend" of mine that dates back to the early 2000s and has been an extremely valuable source of knowledge for me as well.

    I am using Wellstrade for my trading. I am only using them because we have our other investments through them and get discounts on trading. Their research and screeners aren't as impressive as Schwab's, from what I hear, but the discounts help a lot and I have a mixture of additional resources for research.
     
  4. remnant

    remnant Well-Known Member

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    Before deciding to buy or sell any stock, thoroughly research its leadership and competition through sites like Yahoo! Finance. It is also advisable to choose your brokerage wisely with regard to their reputation, pricing, research tools and level of support as well as mobile access. Top Ten Reviews offers guidance on how. If you are a DIY trader, make use of online discount broker services which allow you to sell stocks, bonds, options etc. Use a zero risk way to practice your skills using stock simulators through such sites as Investopedia or practice trading in penny stocks. Hope this helps.
     
  5. TaurusHorns

    TaurusHorns Well-Known Member

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    I am very interested in this question for bitcoin -> forex, as I'm still in the process of sorting through which ones work out the best. Does anyone have any suggestions from experience? I am just looking for experience, no speculation please and nothing personal - it involves my investment money so I'd like to be thorough.
     
  6. kirtimeliwal

    kirtimeliwal Senior Investor

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    Investment is a smart decision done by most of the person with an aim to grow money. There are many investment platforms like the stock market, commodity market and much more platforms to invest. Select a reputed broker who provides the best trading platform to you so that you have various choices to invest.

    stock tips
     
  7. DanielH

    DanielH Active Member

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    I think that defining what is better is not an easy task, I think learning how to trade forex online is a way to have consistent results. Keep in mind that a lot of practice in demo account is important and the platform to operate for me is better Metatrader 4
     

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