How to Choose a Trading Platform: 7 Things to Consider When Choosing a Trading Platform

testing testing 1 two 3 this is Matt zimberg I'm the president of optimist Trading Group video series that will help you grow as a Trader so here I go hi this is medz from the medz trading show uh today going to talk about how to choose a trading platform uh once in a while I'm going to deviate and look over there because I have a storyboard over there uh with age you forget what you want to say so I apologize so we'll start again the topic today is how to choose a Futures Trading platform okay so Point number one is don't follow the crowd people usually want to trade what their friends trade what they saw on the Forum uh what was recommended and so forth you have to make your own evaluations there's gazillion trading platforms you have to choose the one that is right for you so don't follow the crowd evaluate talk to your broker he'll suggest one that is based on your experience okay so rule number one don't follow the crap okay number two visual appeal might sound funny but it's really not visual appeal works like this you look at the platform and what is your first things thing do you like it or you don't like it anywhere you go in the world a door is a door you know exactly how to open the door you know how it operates um a visual appeal usually to me what it means is that I have some sort of a reaction knowing how this whole thing functions okay of course there's inside other details that you have to learn about and so forth but the first time you look and you're like oh this is the buy this is the sell button okay I figure it out so visual appeal how it's all organized and the graphics that it has is very important to me at least okay functionalities functionalities means that you have very sophisticated platforms and then you have very plain vanilla platforms you have to decide what is right for you there's no point of getting something so sophisticated that you don't use 90% of the functionalities so investigate what it offers and basically then decide you know whether you want to whether you need all those features or not it is better for a beginner to get something that he can learn pretty fast and over time progress maybe to other things or a platform that is easy to progress within to other things okay okay cost cost different platforms come with different costs naturally you want to save money and you don't want to pay a lot of money for our trading platforms however certain trading platforms might have what you need for example you will find that one trading platform is better for back testing results so you would say okay but it costs a little bit more but if you want to automate your system then it's actually good to pay just a little bit more for something that works a little bit better than others so although cost is a factor you have to evaluate what you need out of the platforms okay okay stability stability is one of the most important things when you trade you want something that functions and doesn't crash during your demo period you see if it can work on your computer you can see if it actually stable uh you see that it doesn't disappear in you or you need to restart your computer 6,000 times in order to make it work so stability for me it's very important I can go into a very long discussions about how certain platforms are unstable and why they're not stable and so forth and go into the coding but just to keep it PL vanilla for now and simple just make sure you stick to uh something that is stable okay data feeds very important okay so now you have the trading platforms and then you have to stream a data feed right through it okay so certain platforms might have a number of data feeds you have to choose the one which is really most stable on that platform not all data feeds will be the same on one given platforms now you have platforms that provide both the platform and the data feed and then you have ones that provide just the box which is the trading platform and then you have to stream a data feed right through it you have to make sure that the data feed through it is stable I have found that there are data feeds that on their own platforms are phenomenal but at the same time once you put them on somebody else's box or another trading platform it's it just doesn't work okay so that's one thing that you have to check support it's very important that you work with a broker that knows the platform you chose it is your obligation to learn the platform it is your obligation to make an effort to understand the platform but you surely want to work with a team that knows the platform that you're actually subscribing to so although for example Optimus can connect to many many platforms out there we don't support them all and we say to the customer you know this one you're on your own and many of them we do support I would say probably 90% of what we provide we support otherwise once in a while people have you know bring uh platforms from the outside that they want to connect to um in any case that's it please subscribe to our Channel if you have a a question don't forget it's askm at Optimus futures.com and I'll see you in the next magaz Z trading show bye for now