Newbie here, want to trade on mcx with good software.....

iamNeel

New Member
#1
Hi guys,I am from Kolkata,have been watching commodity market for a while,learning from youtube ,traderji about patterns,charts etc. I didn't have any online trading a/c or demat a/c as I have never traded, Though one of my neighbor trades on intraday basis & several times I visit his house only to see how it looks the overall online trading terminal. He uses web based terminal and I tried that terminal to trade, most of the times I fail to make profit, few times I made profit, the basic problem is it's web based terminal and it's damn slow, it doesn't have so many features so users wont get benefit from it. I regularly follow metatrader 4 demo trading software where I trade with virtual money only to practice......now I want to trade on mcx by my own.... want to open trading a/c, want to purchase software, data etc, so here is my question

1. As a newbie I have no idea where to purchase software like nest trader, now trader or metatrader etc and how much does it cost?

2. Where to purchase live feed data and how to use it on software?

3. Which broker house should I go for mcx trading like zerodha or angle or any other and how much does it cost for online trading a/c as I want to do intraday trading?

4. I need a particular software which has features like instant market price execution order (more like metatrader), can complete my order as soon as my order starts generating profit points (more like metatrader where I can put target/stoploss but if I want I can complete it instantly...no need to wait for it to hit target/stoploss price), put command for algo trade, back test etc.

5. How much margin should I have on my trading a/c to trade on mcx crude, gold, silver as I know some broker house provide 20 times exposure, so need at least 20 times exposure on mcx trading)

I have researched on internet & came to know nest trader, now trader is very popular in India,but I have no personal experience except metatrader 4 demo trading software......remember I want to trade on mcx.
 

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