Discover this podcast and so much more

Podcasts are free to enjoy without a subscription. We also offer ebooks, audiobooks, and so much more for just $11.99/month.

3 Reasons You Should And Shouldnt Use TradingView As Your Charting Platform

3 Reasons You Should And Shouldnt Use TradingView As Your Charting Platform

FromDesire To Trade Podcast | Forex Trading & Interviews with Highly Successful Traders


3 Reasons You Should And Shouldnt Use TradingView As Your Charting Platform

FromDesire To Trade Podcast | Forex Trading & Interviews with Highly Successful Traders

ratings:
Length:
11 minutes
Released:
Apr 27, 2017
Format:
Podcast episode

Description

Several months ago, I stopped using my favorite charting platform - Meta Trader 4 at the time - to do all my technical analysis on TradingView. After being asked on several occasions, I thought it was time for me to come up with a TradingView review and to discuss the things I like and don't like about the online charting platform. What Is TradingView? To start with, I just want to ensure I eliminate the confusion about what TradingView is and isn't. In short, it's an online portal with charts...but it doesn't stop there. TradingView is an entire social/trader's network where anyone can publish a trade idea. For some notable people to follow (if you have any recommendations, let me know!): Akil Stokes - https://www.tradingview.com/u/Akil_Stokes/ Jason Graystone - https://www.tradingview.com/u/J_Graystone/ Etienne Crete (yeah, that's me) - https://www.tradingview.com/u/EtienneCrete1/ The first thing I must point out is that TradingView is accessible pretty much anywhere (by that I mean it isn't blocked in China, and you can access it even from a mobile device). 3 Reasons To Use TradingView Ability To Draw Anything On Any Chart I'm a really visual person, and I felt kind of limited by the idea that I could only draw horizontal/vertical lines in Meta Trader 4. I know there are a couple of different shapes and other tools in Meta Trader, but TradingView is way ahead. Whenever I want to explain something to someone or draw for my own reference (where I think the price will go), I take the pen inside TradingView to draw freely. Not only that but literally all the trading tools you could ever think of placing on your chart are there. Not that I'm a fan of complicating things, but I know people who have complicated trading styles. Although it can be challenging to draw with a computer mouse, you end up getting used to it, and that allows you not to forget anything anymore. Ability To Split Your Screen Into Many Synced Up Charts Depending on your trading style, you might need to look at multiple time frames prior to entering a trade.  That can be a real pain! Often you need to click a button and switch back and forth between the time frames. Or, you can open up multiple charts in advance, in which case your drawings/indicators will only appear on one chart. TradingView makes looking at the timeframes much easier by allowing you to see multiple charts on the same screen. What's even better is that your drawings can be synced up on all charts if you choose to.  Then, whenever you look at various currency pairs from your watchlist, you can lock the timeframes you selected so that they remain the same whatever you look at.  That's probably my favorite thing in TradingView! But there's one more thing I want to mention...   Accountability By Publishing Your Trade Ideas Accountability is precious. I've personally seen traders significantly improved when they started sharing what they were doing with other traders.  Some experienced traders even go as far as sharing their stats every month with their wife or husband. That way they feel accountable to someone, and it pushed them to work harder. What's great is that, in the case you don't have anyone to keep you accountable, the online world becomes an amazing resource. TradingView has a social function through which you can publish trade ideas. Those ideas are images of potential trades based on your analysis. Publishing those trade ideas forces you to make sure that you respect the analysis part of your plan.  And the fact that TradingView is such a big platform makes it very likely that people will interact with your trade ideas, perhaps creating an opportunity for you to learn from other traders as well.   3 Reasons Not To Use TradingView You Have To Pay For Some Basics Features As TradingView offers some amazing features, a fraction of them is reserved for paid members. For instance, a screen with multiple charts will require you to purchase a Pro subscription.  For me, that's not much
Released:
Apr 27, 2017
Format:
Podcast episode

Titles in the series (100)

My name is Etienne Crete, and I love the idea of trading Forex for a living but I was fed up with the non-applicable tips and sayings that get you nowhere. So I created a place where aspiring Forex traders can learn a solid process that will get them results and won’t let them down. The Desire To Trade Podcast has for goal to help you develop Forex trading skills for more freedom. I interview successful traders from around the world. My focus is on providing you with lessons from my personal trading experience and my conversations as I trade and travel around the globe.