The Professional Platform?

[iota]

After reading the T2W forums fairly extensively, I keep getting the impression that SB isn't real trading, CFDs seemed to be treated with only marginally less disdain, and so as far as I can tell (my scope and experience admittedly limited) that the only 'real' way to trade is DMA?

Is DMA the only way to make trading a profession? Because the level II forum appears to be the the quietest here.

I'm genuinely curious, is anyone trading full time and successfully from SB or CFDs?
Is there another way to trade apart from the three platforms I mentioned?

Grateful for any answers, as its beginning to look more difficult to just implement a trade than it is to understand the mechanics behind it.

 

[timsk]

Hi iota,
Please read the 'Essentials OF First Steps' Sticky as this will help to lift some of the fog!

Spread betting is as 'real' as any other kind of trading in that you will make money if the instrument being traded goes in the intended direction and lose money if it doesn't. The money that flows in and out of your account is every bit as real as the money that flows in and out of the account of a DMA trader! The difference is that - in the case of equities for example - DMA traders buy and sell actual shares, whereas SB traders don't do this, they buy and sell a derivative product (the spread bet) which is based on the underlying instrument (i.e the equity - BP, Google etc.)

Exponents and enthusiasts of both approaches are often critical of one another. The bottom line is to go down the route that suits you best. SB is quicker and generally cheaper in as much as you can open an account funded with just £100 in a matter of minutes. As an introduction to trading and a way of dipping one's toe in the water - it's difficult to beat, IMO. It's fair to say that there is a broad consensus of opinion that the DMA route has advantages over SB for day trading and that SB is more suited to the swing and position trader. Having said that, I'm sure some member will be swift to point out that they make a killing scalping the DAX (or whatever) using their SB platform!
Tim.

 

[pboyles]

You should also be aware that when you spreadbet you are trading whatever price the bookmaker cares to give you, you are not trading through a regulated exchange. They can manipulate the price as they see fit or widen the spread as they see fit. If you look around T2W you will see a lot of horror stories about SB. Trading shares or futures through an exchange cuts out all the funny business. It costs more to get started but you are trading in the real Market rather than trading against a bookmaker. You can open a futures account with as little as $1000 but most people would recommend a bit more. Having said all that you need to know what you are doing before you start so unless you are making consistent profits on a demo account you should not open a live account of any sort.

 

[iota]

Hi iota,
Please read the 'Essentials OF First Steps' Sticky as this will help to lift some of the fog!

I did, but the fog has returned after reading the accounts of people posting on these forums. Thank you anyway.

You should also be aware that when you spreadbet you are trading whatever price the bookmaker cares to give you, you are not trading through a regulated exchange. They can manipulate the price as they see fit or widen the spread as they see fit. If you look around T2W you will see a lot of horror stories about SB. Trading shares or futures through an exchange cuts out all the funny business. It costs more to get started but you are trading in the real Market rather than trading against a bookmaker. You can open a futures account with as little as $1000 but most people would recommend a bit more. Having said all that you need to know what you are doing before you start so unless you are making consistent profits on a demo account you should not open a live account of any sort.

Therein lies the problem; buying above market value and selling below as offered by SB and CFD seems almost like playing at trading but with all the real financial risks, but I'm struggling to find any brokers offering paper accounts for much else. So I was looking to others for an opinion and see if I was being over-cautious.
Believe me I don't intend to lay down a penny until I feel I know my 'bow from 'hole, but thank you for the advice.

 

[pboyles]

I did, but the fog has returned after reading the accounts of people posting on these forums. Thank you anyway.


Therein lies the problem; buying above market value and selling below as offered by SB and CFD seems almost like playing at trading but with all the real financial risks, but I'm struggling to find any brokers offering paper accounts for much else. So I was looking to others for an opinion and see if I was being over-cautious.
Believe me I don't intend to lay down a penny until I feel I know my 'bow from 'hole, but thank you for the advice.

Call Global Futures or Velocity futures and ask to get a demo of Ninja Trader or GSTrainer (Global only). They will give you a free demo that lasts a couple of weeks. Otherwise get a free demo of MT4 from FXPro, this doesnt expire but their prices for futures are a bit off as they add a spread even on the demo platform.

You could also look at prorealtime charts, they might have a free demo as well.

http://www.globalfutures.com/
http://www.velocityfutures.com/
http://www.fxpro.com/
www.prorealtime.com/

 

[pboyles]

I should add that in my opinion you should be looking to trade futures such as the e mini S&P, the DJ Eurostoxx and the German Bund. These are the most liquid futures contracts in the world.

 

[iota]

Tried FXPro, but the only Futures they offered were silver and gold. I 'made' money on both, but obviously it's quite limited with just the two. MT4 is very newb friendly though.

I'll check the links. Many thanks.

 

[pboyles]

Tried FXPro, but the only Futures they offered were silver and gold. I 'made' money on both, but obviously it's quite limited with just the two. MT4 is very newb friendly though.

I'll check the links. Many thanks.

I have the e minis and Dax etc on FXPro, no Eurostoxx or Bund though. Main advantage is that it doesnt expire but otherwise the demos from Global or Velocity are much more realistic.

 

[pboyles]

You could also go through the attached list and see whats on offer. They are ratings available for each of them.

http://www.elitetrader.com/br/

 

[timsk]

You could also go through the attached list and see whats on offer. They are ratings available for each of them.

http://www.elitetrader.com/br/

. . . or look at the Broker Reviews list here on T2W! With a mere 105 entries, it's shorter and more manageable, but includes all the main ones listed on ET. Well worth adding Infinity Futures to the list provided by pboyles, IMO.
T2W Broker Reviews
Tim.

 

[pboyles]

. . . or look at the Broker Reviews list here on T2W! With a mere 105 entries, it's shorter and more manageable, but includes all the main ones listed on ET. Well worth adding Infinity Futures to the list provided by pboyles, IMO.
T2W Broker Reviews
Tim.

Yes Infinity Futures look good, they offer the following platforms

> Infinity AT
> Onyx
> Infinity Express
> J-Trader
> Trade Navigator
> Strategy Runner
> Ninja Trader
> Ran Order