best suitable platform for commodity trading ?

sumantra

sumantra

Active Member
#1
#1
what is the best suitable platform for commodity trading ? nest or mt4 ?

how can i get mt4 at cheapest rate ? currently it costs rs-300/- per month from one of the broker in kolkata.
 
sumantra

sumantra

Active Member
#2
#2
Galts Gulch said:
By commodity trading, if you mean MCX, I do not think India has MT4 terminal to execute the orders.
You can use MT4 for charting and analysis purpose and then trade on NEST / ODIN etc ...
Yes, there are plug in's available to get signals from MT4 on NEST
Click to expand...
yes, i meant charting software. which is the best charting software ? how can i link a charting software with nest ?
i want to trade in MCX,NCDEX,NSEL ? what are the criteria for trading in NCDEX and NSEL ?
 
Z

zabeen2004

Well-Known Member
#3
#3
sumantra said:
what is the best suitable platform for commodity trading ? nest or mt4 ?

how can i get mt4 at cheapest rate ? currently it costs rs-300/- per month from one of the broker in kolkata.
Click to expand...
Hello sumantra,
can you please let me know which person is offering MT4 data with 300/m.... anywebsite or contact details do you have???.... I too dont think that 300/m is not possible...
 
Z

zabeen2004

Well-Known Member
#5
#5
Galts Gulch said:
BEST charting software is very Individualistic ... For a FX trader like me, nothing can beat MT4 ... I use MT4 (I buy @ Rs 1200 / month for MCX) for all my MCX charting ... and I use my proprietary systems on MT4 to generate signals and then go to NEST to execute orders ...But then for traders, who predominantly trade Indian markets, they will always opt for ami broker ....
Click to expand...
May I know how long you have been using plugin between MT4-NEST and on what basis orders are excuted?
 
Z

zabeen2004

Well-Known Member
#6
#6
Galts Gulch said:
I'm not using any Plug in's for trade execution ... After getting signal on my MT4 charts, I execute trades Manually on NEST
But I know lots of people are using it and I know few of them ...
Click to expand...
I am too doing the same for now... But been searching very hard to find REAL people whom use such plugins... Many fake advertisers throughout this Forum for that.... Would you MIND.... elaborating on how it works...
say for example a buy signal in MT4 how that is sent to NEST... IF you dont know that oks but if you know pls elaborate in clear terms which a trader can easily understand instead of jargons...
 
kiran_thiru

kiran_thiru

Well-Known Member
#7
#7
sumantra said:
yes, i meant charting software. which is the best charting software ? how can i link a charting software with nest ?
i want to trade in MCX,NCDEX,NSEL ? what are the criteria for trading in NCDEX and NSEL ?
Click to expand...
Sumantra, i am using shareguru's s/w for charting in mt4. They charged 500per month. I think this is cheap for rt. Now you said that you paid 300 only. If you give the link of them it will be help ful for all.
 
sumantra

sumantra

Active Member
#8
#8
kiran_thiru said:
Sumantra, i am using shareguru's s/w for charting in mt4. They charged 500per month. I think this is cheap for rt. Now you said that you paid 300 only. If you give the link of them it will be help ful for all.
Click to expand...
I am not using MT. But heard of Mr. Siddharta Chatterjee(Ph no-033-40142651) is giving it at that rate. If you might use it please don't forget to share your experience .
 
M

marimuthu13

Well-Known Member
#9
#9
Galts Gulch said:
Plug In is nothing but a technology interface between two other technologies ... In this case MT4 and Nest ... It is like any wire, say, connecting an electrical appliance to a switch. If you, say, switch on a fan, The switch commands through The Wire for the fan to run.
Supposing you have an EA (Robot) running on your MT4, whenever a signal (buy / sell) is generated, The EA on MT4, commands Nest (Through The Plug in) to execute The Order (Buy / Sell) on its Terminal (NEST, in this case). This is how it works. But keep it in mind that whereas MT4, as it is designed exclusively for FX market, works 24/5, NEST for MCX works 13/5 and for 4 hours on Saturday's. Now, how do you solve this, I'm not sure.
I'm not a big fan of EA's for that matter. I have 6 years of Pro FX experience to vouch for that. Bought some ... Got developed some ... But NONE worked ... None gave profit consistently over a long period of time. Any EA is coded / configured to work according to few parameters. You might have seen any automobile advertisement about the Mileage ... Under standard condition etc. It is the same way with any EA. They work predominantly in a trend bound market, certainly not in a range market. Irrespective of the strength of a EA, they work in a static manner, as they are Pre Programmed, whereas The Market is very dynamic. If Obama sneezes, Yen get Cold ... Jokes apart, this is my thought ..... You decide on your own, as you the best judge of what you want.
Click to expand...
Gem of reply ..:clapping::clapping::clapping:
 
Z

zabeen2004

Well-Known Member
#10
#10
Galts Gulch said:
Plug In is nothing but a technology interface between two other technologies ... In this case MT4 and Nest ... It is like any wire, say, connecting an electrical appliance to a switch. If you, say, switch on a fan, The switch commands through The Wire for the fan to run.
Supposing you have an EA (Robot) running on your MT4, whenever a signal (buy / sell) is generated, The EA on MT4, commands Nest (Through The Plug in) to execute The Order (Buy / Sell) on its Terminal (NEST, in this case). This is how it works. But keep it in mind that whereas MT4, as it is designed exclusively for FX market, works 24/5, NEST for MCX works 13/5 and for 4 hours on Saturday's. Now, how do you solve this, I'm not sure.
I'm not a big fan of EA's for that matter. I have 6 years of Pro FX experience to vouch for that. Bought some ... Got developed some ... But NONE worked ... None gave profit consistently over a long period of time. Any EA is coded / configured to work according to few parameters. You might have seen any automobile advertisement about the Mileage ... Under standard condition etc. It is the same way with any EA. They work predominantly in a trend bound market, certainly not in a range market. Irrespective of the strength of a EA, they work in a static manner, as they are Pre Programmed, whereas The Market is very dynamic. If Obama sneezes, Yen get Cold ... Jokes apart, this is my thought ..... You decide on your own, as you the best judge of what you want.
Click to expand...
Thanks for the detailed easy to understand explanation. So in short it is EA based order execution and not indicator based. I dont think there are much programmers here in india whom has such strong knowledge in building up EA based on set of logics. Even if they do I dont think its going to be cost effective. Moreover as you mentioned it will not work the way which we expected as sending the order from MT4 to NEST will have lots of concerns like "is it going to be a market order or limit order" sometimes EA's will catch at high price when stock moves if Market oder... AAAH finally its not an easy TASK.....and even if we spend time, money still its not guaranteed that it will work and moreover there is govt restrictions too I believe....

Again thanks for being so straight forward in answering this question which none of the advertisers in this forum will agree but you gave the real fact... which is true as far as I understand. I will need to drop my plan for searching plugin atleast for the timebeing...
 
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