If you are looking for a free, easy-to-use, and well-equipped futures trading platform—one that is rich with indicators and analytics, and one that is capable of fast execution—OEC Trader possesses those features.
It may not have all of the automated and semi-automated “bells and whistles” of a Ninja Trader or Agena Trader; and it may not have an entire library of functionalities that will take several hours of viewing time (Ninja Trader)—but it does have a wide array of functionalities (including some automation), an easy-to-navigate dashboard, and fast order execution, all of which serious traders expect from a top-grade platform.
In short, OEC Trader’s design makes it easy for you to quickly get accustomed to its interface, quickly get situated to identify market opportunities, and to quickly get trading when the right moment comes.
Here are a few tips and videos to quickly get started with OEC Trader:
Request a Demo
First, you’ll need a demo to give OEC Trader a test-run. Click here and check the box next to OEC Trader. Once you receive your demo credentials, you can get started.
Download OEC Trader
This is your first step, and it’s easy to do. To help you with the process, we created a short video that walks you through the steps. It’s the next best thing to getting a personal walkthrough, which we also do at Halifax America.
Pull Up an OEC Trader Chart
If there’s anything a trading platform should do, it should allow you to pull up charts quickly and effortlessly. This may be stating the obvious, but sadly, there are many platforms that have managed to turn this basic step into a real chore. In contrast to most platforms, OEC Trader delivers. It also allows you to trade directly off the charts.
Apply Chart Indicators
OEC Trader has a large collection of indicators, and they are organized and made accessible in two different ways. This video shows you (in just under two minutes) how to pull up and apply your preferred indicator.
Activate the DOM (Depth of Market)
The DOM tool is a favorite among day traders as it allows you to view real-time order flow, place and cancel orders quickly, and execute, close, or even reverse active positions. For those who need to execute trades even faster, you can also remove the confirmation function, but be careful! Best to try it on a demo to get used to its functionalities before trying it in the live market (which, as you should know, is very different from an even more difficult than a simulated environment).
Use Bracket and OCO Orders
Another functionality preferred by traders who have pre-determined stop and limit levels, OCO (Order-Cancels-Order) allows you to place two working orders, usually one to close at a profit and one to close at a loss, without having to manually cancel the order that wasn’t filled.
If you have a fixed stop and limit level—say, 8-tick stop loss level and 16-tick profit level–you can also place bracket orders instead of having to type in your stop and limit levels for each trade. Note that this may add a level of efficiency to your trading, but it may not always be favorable to your trading. It all depends on your strategy.
Trade Options of Futures
For those of you who trade options, OEC Trader is one of the few platforms that allows you to trade options on futures. You can view multiple option chains, use OEC Trader’s analytics tools, and place the order through several order entry windows including the DOM.
There are plenty more functions to explore, of course. But these are just a few to help you get started quickly with OEC Trader. If you have any questions about this platform, or if you would like a one-on-one walkthrough, contact us at firstname.lastname@example.org
To request a demo, go to our OEC Trader page by clicking here.
The information presented in this blog is strictly for educational purposes only. Halifax America LLC doesn’t necessarily endorse the information provided. We present this information to our readers with the expectation that they will critically read and evaluate the information themselves. Halifax America LLC is NOT recommending trades or investments in relation to the information presented. The risk of loss in the trading of stocks, options, futures, forex, foreign equities, and bonds can be substantial and is not suitable for all investors. Trading on margin or the use of leverage is not suitable for all investors and losses exceeding your initial deposit is possible. Supporting documentation is available upon request. Trading futures, options on futures, and forex involves substantial risk of loss and is not suitable for all investors. Carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources and only risk capital should be used. Opinions, market data, and recommendations are subject to change at any time. The lower the margin used the higher the leverage and therefore increases your risk. Past performance is not necessarily indicative of future results.