hello traders it's samurai trader here welcome to this short information
recording video that I'm going to be doing today virtually every day I
receive an email from a new trader or a potential trader or even more experienced
traders asking about charting packages and most traders noticed that I use
tradestation I've been using tradestation for over 20 years um I love
TradeStation I know TradeStation and virtually every professional trader or
firm that I work with or consult to use TradeStation so that something gets well
entrenched with me but this is a hotly debated topic because if you speak to
someone and users think or swim or ninja trader or mt4 particularly if you trade
Forex you usually find that they fall in love with their trading platform now
before I go on I should mention the risk of course is always a risk in trading if
you haven't read one of my disclaimers please do you need to understand the
risk in trading as I always say don't trade with the rent money getting an out
to wait let's get back to the trading platform so what I say here is don't be
cheap with your trading or charting platform you'll here me talk about
continually to succeed as a trader you need to be in the 5% Club which means
you need to have the right tools now in using your charting package if you are a
scalper or a day trader speed and ease of use is absolutely critical if you
first start using inter trader or mt4 or TradeStation actually doesn't matter
what trading platform it is you need to practice practice on your trade
execution navigating your way around etc and I still come across this for every
day traders trying to rush here career traders you're going to be trading the
rest of your life if we get you in that fact that 5% club so be kind yourself I
think I can remember who said it now I think it was gee whiz
anyway he said don't get frustrated Jim Roland said a take it frustrated get
fascinated so if you seem a little out of your depth with a new trading
platform don't let it put you off you'll soon
learn it you'll pick it up so it's very very important you get to know your
platform so let's just have a quick look at mine for a moment so we're looking at
tradestation here by the way this is a 233 volume bar now you can purchase a
lot of external indicators from third-party vendors and with virtually
every trading platform they're locked to your code or to your trading station so
with tradestation for an example that you end up having a customer number and
if you go and purchase indicators from most vendors they want to know your your
customer number or ID and when they send those indicators out they're locked to
your machine so you can't for an example move from tradestation
over to ninja trader also of course they're written in total different
languages so you need to really work out if you're going to invest in the right
trading platform you need to work out which one is right for you
now I'm getting absolutely no Commission here from TradeStation but if you
purchase or subscribe to a TradeStation platform I give you a set of my
indicators the only things I can't provide you because they're from a
third-party are my floor pivots basically or even that's too smooth
stochastic you saw I have those from a third-party but you can go and purchase
them at a great discount anyway for only a few hundred dollars but otherwise I
provide you with all of my indicators so if you look at those as an example the
main thing that people really are after is the fractals or the super scalper now
on the other hand ninja trader is also a great platform so let's just talk about
this for a moment so if you ask me what are my preferred platforms well you've
got tradestation if you as I mentioned purchased tradestation which you can't
purchase tradestation outright it's a monthly lease
and if you open up and our should mention that the minimum account size a
tradestation from my understanding for futures is $5000 now you open up a
trading account with TradeStation then the monthly fee for TradeStation is
around $99 if you do 10 round turn transactions per month there is no fee
for TradeStation with the exception of the data costs and I believe with ninja
trader there is a data cost per month irrespective of what you do and we'll
look at their platform in a moment so there is a fee of around a hundred
dollars a month for tradestation and there's a fee which we'll have a quick
look at at the moment for ninja trader that is the cost of doing business
once again just like a good carpenter he's got his own tools his custom tools
that he uses if someone else gives him their hammer he's going to feel that so
you'll fall in love with your platform so tradestation and ninja trader are the
two best now if you're trading and if you want a free platform mt4 for trading
forex is free and most brokers will give that to you there's no there's
absolutely no cost now with the indicators I use if you're
a ninja trader user or mt4 or think or swim or one of the many others I give
you the indicator settings that I use on my charts now the only thing is that
some people have had a challenge with is getting the exact paint bars to work as
I have here but I give you the settings or other pattern rules anyway because
the paint bar you can see that plot see of is a white paint bar there there it's
nothing more than a pattern so I tell you what the pattern is in my training
so you know exactly what it is and just about everything else you see you can
obtain for your charting package free of charge so what I say is don't go out and
spend a lot of money on your charting package so if we look here at
tradestation if you go to their site you can I think you can even get a free
trial now or free demo if you open a Forex account
with TradeStation your minimum account size is two thousand dollars to open a
Forex account with them and then the TradeStation platform is absolutely free
if you're going to trade Forex so unlike futures where there's a lease
fee if you're going to trade Forex or tradestation there is no fee now if we
now look at let me just pull up here ninja trader the least figures you've
got here you can purchase ninja trader outright for nine hundred ninety nine
dollars or for payments of $299 a month you can lease it for six hundred per
annum or one hundred and eighty per quarter or you can obtain it free if you
open an account with them and I'm not sure on how many transactions a month
etc you can go there and ask them directly both of those platforms are
absolutely outstanding now just one thing you need to consider
whichever you broker and you may choose by the way to use a charting package
it's provided by your broker and some brokers have their own custom built
charting package where it's free if you open up you don't need to purchase need
to trader or tradestation or lease them I should say keep in consideration
please at all times you need to be considering if you're a Forex trader
what is a spread it's no good somebody giving you or providing you a
trading platform and acting as your broker and they're absolutely killing
you on the spread or if you're trading futures and they're getting you on the
brokerage so brokerage as a day trader particularly is extremely important
traders that you still find out what is best so it may be for an example that
you purchase outright your trading platform because you can link it in with
your own independent broker so there's a number of considerations
once again my two favorites a tradestation which is what I use in the
heavy if you use you become a student of mine
I'll give you my indicators NinjaTrader I give you the settings well doesn't
matter what platform anyway that I use I'll give you the settings of all of the
indicators that are you so you can customize your own indicators so
hopefully traders this was helpful any questions please feel free to drop me an
email at trader@iamadaytrader.com if you're not already a client please go
to my site find out more about day traders faster program as I say to all
traders don't spend the fortune Lending had a day trade for one hundred and
ninety seven dollars I'll give you a total turnkey solution save your money
for your trading account Thank You traders