P
Thor Szenevko
@purple_hills
Last seen:
2 weeks ago
Trend is your friend
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I can relate to what you're saying, this used to be me some time ago. When I look at my account statement I will see so many trades with small losses but no big wins
I agree with @Karbin, MetaTrader as a whole is outdated and TradingView is the future. Left to me, I think TradingView is first and cTrader is secind best and MetaTrader is last
just tell the trailing stop how many pips of profit you want to be securing as price moves in your favor. Open a trade, right click on it and select "trailing stop". If you select 10 pips then as price moves in your desired direction, every time your profit is up to 10 pips, the system will shift your stop loss accordingly to secure it.
@melody, Japan doesnt have oil reserves and they are a big-time manufacturer of vehicles, electronics etc. so they always need fuel to power machinery. The ongoing conflict in the middle-east has caused crude oil prices to increase so and since oil is majorly priced in USD, japan will have a huge bill to pay. Japan will need to convert their Yen into USD to pay for oil thus weakining the Yen.
MT5 is better because it is an updated version of MT4 and it corrects all the short comings of MT4
It's really hard finding a broker that ticks all my boxes, they always have one shortcoming or the other. I am still searching
I wish I knew more about correlation of currency pairs and how hedge funds hedge risk using options.
With a bigger lot size I spend lesser time in the market before cashing out. This is what I like about big lot size; the price only needs to move around 3 pips and I have made enough profit for the day.
Beginners should download mt4 from the brokers website and not from play store?
I think any beginner should be able to install mt4 on their android phone but mistake they make is they download the mt4 straight from the google playstore instead of from their brokers website.
What's the difference?
The difference between downloading mt4 from brokers website vs from google play store is that mt4 from the broker has already been designed for easy installation/setup. The one you download from the play store is more technical to setup.
What do you mean by more technical?
More technical means when you download mt4 from the google play store, you have to start searching for your particular brokers name, and you have to select the brokers entity where your account is regulated. So, assuming you are based in the UK you have to select your brokers UK entity and not some other offshore entity.
You then have to search for the actual server your account is hosted on and that is another technicality. However, when you download mt4 android from your brokers website, the process is shortened as you dint have to search for the brokers name as it is already inputted by default.
Okay so how is the installation done?
You start by opening an mt4 account with any regulated broker, then take note of your mt4 account number, password, and mt4 server name where your account is connected to.
Click on "file" then select "login to trade account" . Use your mt4 account number as login, then insert your password and select the relevant server and you're good to go ! Remember that demo servers are for demo accounts and live servers are for live accounts. Dont go selecting demo server when the account number you inputted is that of your live account.
How will I know if mt4 login is successful on my android phone?
If your login attempt went successfully well, you will be able to see your account balance displayed on the mt4 android app. If you can't see your balance then check the steps again, you may have made a mistake somewhere. It's really simple and beginners should not get confused/discouraged.
1:100 leverage may not be the best for a $10 account because it might not cover the margin requirements for the instrument he wants to trade. Like @yokoyi said, 1:500 is best leverage for $10
Yes, you can sell a call option before expiry, but if you had used the call option as collateral for another transaction, your broker would not allow you sell it. However, remember that as the expiration date nears, the option becomes less valuable (time decay) so the price may drop, and you sell at a loss.
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