TradingView is a robust platform for developing strategies thanks to its intuitive Pine Script language, which simplifies backtesting, chart analysis, and strategy modification. If you are comfortable with Pine Script and find TradingView meets your strategy development needs, it’s a solid choice for paper trading. TradingView allows you to paper trade with broker integration, which can help you test your strategies in real market conditions without financial risk.
However, when it comes to live trading, the decision may depend on a few factors:
Broker Integration: TradingView supports a limited number of brokers for live trading. Check if your desired broker is supported on TradingView. If not, you might need to look at other platforms that offer direct integration with more brokers, like MetaTrader, NinjaTrader, or Thinkorswim.
Platform Features: Consider what other features you might need for live trading. Some platforms offer more sophisticated order types, better latency, or more extensive automation features, which can be crucial depending on the specifics of your strategy.
Costs: Evaluate the cost implications. Some platforms charge for hosting or have higher commissions and fees. Ensure that the cost of using another platform does not outweigh its benefits.
Expandability: Consider whether the platform can accommodate your growth. Platforms like MetaTrader offer extensive libraries and community support for developing advanced trading strategies.
If TradingView aligns well with your trading needs and the brokers you plan to use, there might be no immediate need to change platforms. However, if you require more advanced features for live trading or your broker isn’t supported, exploring other platforms could be beneficial. It’s often wise to begin with a free demo or trial before making a switch to ensure the platform meets your requirements.
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