Does anyone use and LIKE TradingView?

[Jk47_]

@cara2 You seem relatively new to the painful world of trading (I am not experienced but a little further down the line...).What 1nvest is saying is true and I don't think he was being derisive, there is just so much to discover and understand, only in a year(s) time you'll look back and understand.

I wanted to respond cause I have been in your situation and it is like every corner you turn, you hit a brick wall. PDT rules, extortionate commission fees, bad platforms etc.

TradingView is like the number 1 charting platform - that's its primary use. It is excellent for that. It has so many indicators and tools to help you like volume profiles, AVWAP, Pivots etc. that you apply to a chart (and then set an alert for). You do your research, analysis, homework and drawings on Trading View.
Trade Ideas - I looked into but couldn't justify the price, and personally don't think you need it. There are a million ways to make $ in trading and many successful people probably never use a screener, they just trade strategies on a limited number of stocks. There are many other free version as well. (Stockbeep, ZenBot, Chartswatcher)

The most painful aspect is the broker - From what I've read in your posts, and your other thread about brokers.. it seems you want a direct access broker to buy and sell US listed stocks of small to mega caps. All of the brokers listed in the tools section on here... I haven't heard of half of them and the commissions I've seen like $7 is laughable.

The type of broker you are likely looking for is something like TradeZero (international). It is based out of the Bahamas so has no PDT rule. You can put £1000 in there, and have 6x Margin. You can execute like you see on TraderTV. Scaling in and out of positions very fast.
The downside is that you have to pay... as with everything. The commissions are $1 to get in and $1 to get out of the position.
If you buy 10 shares of TSLA, it'll cost you $1. If you sell half (5 shares) that'll cost you $1, and then sell the remaining 5 shares 30mins later it'll be $1. For a total commission of $3.
The desktop platform they have costs $59 a month. (There is a free web only version but it is not good) It's actually on the cheap side for brokers like this. Other more expensive 'better' brokers are things like Guardian, Centrepoint, Cobra. Those brokers are like the next level up, professional traders who are successful and have a lot of $ in the account.

Trading212/Webull/IBUK - they are ok for something like swing trading using a cash account. For day trading you want the above brokers.

Another resource you might like is TradingTerminal.com - sign up for free, they have a screener and have a plethora of other things like news and earnings events calendars, as well as a brilliant replay feature and live simulator.

Twitter is a really good tool to find other people who trade and many post charts etc.

I can sympathise with your pain venturing into the trading world, you see people on traderTV and want to have easy access to do that but it's just barrier after barrier.

It is a long road to go down, you will lose money, its market tuition. you need to find a strategy that suits you and take those types of trades only. I'll try to remember to check back on this thread if you have any other questions, I can try to help.

 

[timsk]

The type of broker you are likely looking for is something like TradeZero (international). It is based out of the Bahamas so has no PDT rule.

@cara2
Beware of using unregulated brokers in places like the Bahamas. In the event they go belly up - you won't see your money again. If you want to use them, I suggest a small opening balance and, once you've doubled it, withdraw your initial deposit so you're only trading with profits. That way, if they're here today and gone tomorrow - you'll only have lost profits.

 

[Jk47_]

There is insurance to a degree I believe,

Questions About Customer Protection​

What recovery is a brokerage customer entitled to in the event that the customer’s brokerage firm is placed in liquidation under the Securities Investor Protection Act, and how is the amount of that recovery calculated?​

In the liquidation of a SIPC-member brokerage firm under the Securities Investor Protection Act , a customer has a claim against the brokerage firm in the amount of the customer’s “net equity.” A customer’s “net equity” is the value of cash and securities owed by the brokerage firm to the customer, minus the amount of any indebtedness that the customer owes to the brokerage firm. Net equity is measured on the “filing date” – usually the date SIPC files an application in court to have the brokerage firm placed in liquidation.

Cash and securities held by the broker-dealer for customers comprise a fund of “customer property” which is shared pro rata by customers based on each customer’s “net equity.” For example, if the fund of customer property consists of 90% of what should have been held by the brokerage firm for customers, then all customers receive 90% of their “net equity” claims from this fund.

In many liquidations, the fund of customer property is not sufficient to satisfy fully every customer’s “net equity” claim. In that case, SIPC advances its funds – up to $500,000 per customer (but not more than $250,000 for cash claims) – to make up any shortfall.


I've read it a few times and don't understand half of it, but can make a decision based off that.

As it seems with everything in trading, there is no perfect world, CFDs and spread betting is a no-go, more official brokers like IBUK require PDT, as do better DMA brokers like centre point.

TradeZero was the one to fill the niche for day trading on margin, longing and shorting without a PDT rule.

 

[timsk]

. . .I've read it a few times and don't understand half of it, but can make a decision based off that . . .

There is only one decision to be made after reading something one doesn't understand - and that is to do nothing until one does. Certainly, anyone who deposits money with a broker who prints gobbledegook like that ought not be surprised if they never see their money again. Regulation exists for good reason and punters who deposit their hard earned capital with unregulated brokers are far more likely to lose it (in the event that the broker goes bust - or is plain fraudulent) than they are if they deposit it with a regulated broker. That's the point of regulation: to protect the customer. People who deposit their money with unregulated brokers don't have that protection. Simple as that. A fool rushes in where angels fear to tread; caveat emptor etc., etc.

 

[Jk47_]

Just for clarity @cara2, I have used them for a year +, and have followed people who have used them for a few years, they are well known in the trading circles, but like @timsk they might/don't have the protection that IBUK has.

 

[cara2]

@cara2 You seem relatively new to the painful world of trading (I am not experienced but a little further down the line...).What 1nvest is saying is true and I don't think he was being derisive, there is just so much to discover and understand, only in a year(s) time you'll look back and understand.

I wanted to respond cause I have been in your situation and it is like every corner you turn, you hit a brick wall. PDT rules, extortionate commission fees, bad platforms etc.

TradingView is like the number 1 charting platform - that's its primary use. It is excellent for that. It has so many indicators and tools to help you like volume profiles, AVWAP, Pivots etc. that you apply to a chart (and then set an alert for). You do your research, analysis, homework and drawings on Trading View.
Trade Ideas - I looked into but couldn't justify the price, and personally don't think you need it. There are a million ways to make $ in trading and many successful people probably never use a screener, they just trade strategies on a limited number of stocks. There are many other free version as well. (Stockbeep, ZenBot, Chartswatcher)

The most painful aspect is the broker - From what I've read in your posts, and your other thread about brokers.. it seems you want a direct access broker to buy and sell US listed stocks of small to mega caps. All of the brokers listed in the tools section on here... I haven't heard of half of them and the commissions I've seen like $7 is laughable.

The type of broker you are likely looking for is something like TradeZero (international). It is based out of the Bahamas so has no PDT rule. You can put £1000 in there, and have 6x Margin. You can execute like you see on TraderTV. Scaling in and out of positions very fast.
The downside is that you have to pay... as with everything. The commissions are $1 to get in and $1 to get out of the position.
If you buy 10 shares of TSLA, it'll cost you $1. If you sell half (5 shares) that'll cost you $1, and then sell the remaining 5 shares 30mins later it'll be $1. For a total commission of $3.
The desktop platform they have costs $59 a month. (There is a free web only version but it is not good) It's actually on the cheap side for brokers like this. Other more expensive 'better' brokers are things like Guardian, Centrepoint, Cobra. Those brokers are like the next level up, professional traders who are successful and have a lot of $ in the account.

Trading212/Webull/IBUK - they are ok for something like swing trading using a cash account. For day trading you want the above brokers.

Another resource you might like is TradingTerminal.com - sign up for free, they have a screener and have a plethora of other things like news and earnings events calendars, as well as a brilliant replay feature and live simulator.

Twitter is a really good tool to find other people who trade and many post charts etc.

I can sympathise with your pain venturing into the trading world, you see people on traderTV and want to have easy access to do that but it's just barrier after barrier.

It is a long road to go down, you will lose money, its market tuition. you need to find a strategy that suits you and take those types of trades only. I'll try to remember to check back on this thread if you have any other questions, I can try to help.

Thanks for the reply, I appreciate the time you've taken.
I have first to counter that " What 1nvest is saying is true" - No, it wasn't, I already said TV admitted problems were their end, so I don't need anyone's expletives taking the p and suggesting I was wrong to complain, and try to make the issues my fault in some way. It's a product for which they charge up to 6k pa, so it shouldn't have as many mistakes as it does. I expect in the passage of time they'll put them right, rather than me ever accepting them as OK.

Yes I'm pretty new to trading, I've been at it a few months and had variable success. I find many of the features I'm after from a broker are in the free one I use. Given that it's free I accept a few bugs and missing features. I'm in the UK, so the scene is rather different from what you have in the US.
A number of platforms/products out there are in the "not very good" category, which you find out only when you dig a little.
(I didn't want to bang on about my current platform but an example illustrates: The default number of shares to trade is the maximum of your margin. (Awful). There is a mechanism to set it otherwise, but I found it wasn't reliable. The number reverts to ''the farm" and you can easily miss it. There is a stream of obstructive Notifications on the page which you have to manually close., though sometimes they vanish, so you click to close them. Lo and behold the Notification vanished and the click went on that maximum buy/sell position underneath where the notification was. You have to close it, and invariably lose.
On pressing the platform admin for the actual rules of operation of the reset, they didn't fix it, they just changed the description so it no longer says it works. I now know more about how it works than they do.)

I found a couple of brokers where the fee is a % of the total traded volume which suits a novice with small positions/scalping better than a flat or minimum rate per trade.
Unfortunately most of the good US platforms either don't operate here, or limit the offering, or still apply PDT rules. I may go with a spread-betting option.
I shall check the names you mention, some I haven't heard of.
"Offshore" - yes, all the comments people have made are clear and understood. Some valid options there.

As with many, I find a major problem is my psychology. I had, or should have had, consecutive chances to make several percent per day for the most recent several days with the likes of $MARA, Natural Gas, $AF and $MN(HK, have a look!), but most of the inhibition is down to me. I saw someone say his Doctor had diagnosed Paper Hands, but there was no treatment and the prognosis wasn't good!

 

[Jk47_]

Thanks for the reply, I appreciate the time you've taken.
I have first to counter that " What 1nvest is saying is true" - No, it wasn't, I already said TV admitted problems were their end, so I don't need anyone's expletives taking the p and suggesting I was wrong to complain, and try to make the issues my fault in some way. It's a product for which they charge up to 6k pa, so it shouldn't have as many mistakes as it does. I expect in the passage of time they'll put them right, rather than me ever accepting them as OK.

Yes I'm pretty new to trading, I've been at it a few months and had variable success. I find many of the features I'm after from a broker are in the free one I use. Given that it's free I accept a few bugs and missing features. I'm in the UK, so the scene is rather different from what you have in the US.
A number of platforms/products out there are in the "not very good" category, which you find out only when you dig a little.
(I didn't want to bang on about my current platform but an example illustrates: The default number of shares to trade is the maximum of your margin. (Awful). There is a mechanism to set it otherwise, but I found it wasn't reliable. The number reverts to ''the farm" and you can easily miss it. There is a stream of obstructive Notifications on the page which you have to manually close., though sometimes they vanish, so you click to close them. Lo and behold the Notification vanished and the click went on that maximum buy/sell position underneath where the notification was. You have to close it, and invariably lose.
On pressing the platform admin for the actual rules of operation of the reset, they didn't fix it, they just changed the description so it no longer says it works. I now know more about how it works than they do.)

I found a couple of brokers where the fee is a % of the total traded volume which suits a novice with small positions/scalping better than a flat or minimum rate per trade.
Unfortunately most of the good US platforms either don't operate here, or limit the offering, or still apply PDT rules. I may go with a spread-betting option.
I shall check the names you mention, some I haven't heard of.
"Offshore" - yes, all the comments people have made are clear and understood. Some valid options there.

As with many, I find a major problem is my psychology. I had, or should have had, consecutive chances to make several percent per day for the most recent several days with the likes of $MARA, Natural Gas, $AF and $MN(HK, have a look!), but most of the inhibition is down to me. I saw someone say his Doctor had diagnosed Paper Hands, but there was no treatment and the prognosis wasn't good!

I'm in the UK also..

I might be confused here, but what is the broker you currently use that has the majority of the features you want to use?

My set up is 3 screens, 2 of them have trading view, and then one is trade zero where I execute the plans.

I'm interested the psychology aspect, although probably not the right thread to discuss but I do find that, psychology is second to finding your edge and strategy. I would like to know others thoughts on this.

I view it as, if you have no consistent profitable strategy, you can have the best psychology ever and still won't make a £.

 

[FranziskaSchulz]

I rely on that, use it a lot, and find it user-friendly.
I am even working with a broker that offers me a trading platform based on TradingView. So from my POV, that is something great.

 

[cara2]

A couple of my queries about faulty screening behaviour which I'd illustrated, got a suggestion to try their new screener, "Stocks 2.0". It looks to be set up very differently from their "Stocks" one which is usually the type I want. I should spend time setting it up. I haven't found/gone through the "instructions" yet. Their wording suggested they were going to scrap the "Stocks" one at some point.

@JK47 thanks. I'll look at Trade Zero.
@FranziskaSchulz thanks. Which platform is that? Does it pass "data" - live prices and Level 2, to TV? A comment I have seen a few times is that the spreads you get through TV are much wider than using the broker's own platform. Do you find that? That would be "unfortunate"!

I don't want to replicate too much here but, I'm using Trading212 which is free, which is a good thing, but as you'd expect, misses a lot of features. Plus it's very clunky and slow and has a lot of undesirable faults. You click a 1-of-16 chart to maximize it, and it fills the window but doesn't populate, ever. You have to click a different tab and come back. They've been saying for months that they're going to change it. It "forgets" to update the 1 min chart sometimes. There's a LONG list! Including unreadable charts.

TV's candles update a few times faster than T212's, which would be much better. I use CFD, no flat minimum commission per trade, wide range of stocks, want decent spreads & swaps, cheap FX, volumes, Level2, - the usual, plus a non-leveraged Invest facility. Stop orders settable on screen? Choice of TSL's?
Psych wise - yes I appreciate what you say , but watching TraderTV live is a massive shortcut, plus I can find stocks, levels, some breakouts etc myself usually.
EG today TTV flagged NVDA which was known to all, it went up about 4%. I found & followed Ngas, which steadily went up 6%.
6% leveraged at 10:1 is 60% which I would put up with (!) but , e.g. every time the darned thing retraces, my inner neurotic idiot takes over.
I don't keep much in the margin account but even £1k should have won much of £600 from NGAS plus some of £200 from NVDA. I made a mess of it.