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View Full Version : Forex newbie questions - Pls help



japk
09-06-2017, 09:34 PM
Forex newbie. I will keep a demo account for few mo. to see if I can endure. I've got some fundamental questions so pls assist me

1. MT4 - I moved into the MT4 website and clicked on MT4 to download it however I see 5 on the icon and files in the indior folder have ex5 mq5 extensions.
Does that imply that this is MT5 not MT4? In that case, would this be a problem if I want to use a customized indior from this forum?

2. Indior alert (noise push notifiion) - this wouldn't work if my computer is away right? Can there be some delay until you actually get the awake?

3. Standard VS ECN - if I maintain my position for less than an hour, it is far better to go for ECN because tighter spreads?

THANK YOU!

japk
08-13-2021, 11:48 PM
quote if Indior or EA support email notifiion - yes you can set up email in MT to send notifiions Thank you Datatrading.

SarcCttta
08-14-2021, 01:09 AM
quote 1. You need download MT from your broker. As soon as you start your demo account normal broker supply a link for MT4 with some broker's presetting. 2. Correct, 24/7 is required by a Forex trading system. You can utilize VPS for EA 3. Be careful about small spreads ordinary it signifies commissions.
Thank you info for your nice advice and solution that I have fixed for sharing. Great

japk
08-14-2021, 02:30 AM
quote 1. You need download MT out of your broker. Once you start your demo account usual broker supply a connection for MT4 with some broker's presetting. 2. Correct, a Forex trading system requires 24/7. You can utilize VPS for EA 3. Be mindful about little spreads ordinary it signifies commissions. Thank you Datatrading. Btw, what is VPS? With VPS, I could still get alarms when offline??

inesst99
08-14-2021, 03:51 AM
quote Thank you . Btw, what is VPS? With VPS, I could still get alerts when offline?? A virtual private server ( VPS) , so you can run EA ( expert advisor ) 24/7 someplace, not your home PC
There a lot of hosting and particular for Forex, generally brokers also supplies VPS service

inesst99
08-14-2021, 05:12 AM
quote I can still get alarms when offline?? If Indior or EA support email notifiion - yes you can set up email in MT to send notifiions

japk
08-14-2021, 06:32 AM
One question concerning leverage.

When I stick to same lot size, I need to choose highest leverage once I open my account so that my margin level is higher?
Anything else that I need to be conscious of when I choose high leverage?

Thank you

Kamre8
08-14-2021, 07:53 AM
One quick question concerning leverage. If I stick to same lot size, I should choose highest leverage once I open my account therefore that my margin amount is higher? Yes that's correct, you should decide on the maximum leverage your brokers provides, that way the margin required is reduced. This will let you keep most of your money at the bank and only a small part deposited in your trading account.

japk
08-14-2021, 09:14 AM
quote Yes that's right, you should decide on the maximum leverage your brokers provides, that way the margin needed is significantly reduced. This will let you keep the majority of your cash at the bank and just a little part deposited into your trading account. Thank you calamardo~

kevin8893
08-14-2021, 10:35 AM
quote Yes that is right, you need to decide on the highest leverage your brokers provides, that way the margin needed is reduced. This will let you keep the majority of your money at the bank and just a little part deposited in your trading account. You will find brokers offering 1:1000 leverage, I am not sure that picking that is the most sensible idea.

japk
08-14-2021, 11:55 AM
Now I was checking spreads and watched 1,250 point spread for USDZAR and 800 for USDMXN.
Is it plain simple that I need to just dismiss these risky pairs? Is there some reason?

javitum
08-14-2021, 01:16 PM
quote You will find brokers offering 1:1000 leverage, '' I am not sure that picking this is the most sensible idea. I don't really find any issue with that. When a new trader sees there's room for more trades since he's using high leverage, he attempts to boost lot size for more profit, that is the point where the risk is. High leverage in itself isn't bad in anyway. High commerce volume is the issue.

lurmm9909
08-14-2021, 02:37 PM
A tighter spread is obviously better ... disperse should be considered as a cost to your open and final from a transaction. Plus at that disperse you'd better have big take profits / stop losses. On the other hand when you have a egy which works with these pairs and takes the disperse into account then go to it ...

japk
08-14-2021, 03:58 PM
A tighter spread is always better ... disperse should be regarded as a cost to your receptive and closing from a transaction. Plus at that disperse you'd better have big take profits / stop losses. On the other hand when you have a egy that works with these pairs and requires the disperse to account then go to this ... I see. Thank you

anpknio.az
08-14-2021, 05:19 PM
You do not need to download Mt4 trading platform, mostly brokers offer mt4 trading (few broker offers mt5 as well as others platform), therefore download your brokers platform (mt4). By the way, mt4 has become the most popular trading platform in Forex marketplace.

SarcCttta
08-14-2021, 06:39 PM
A tighter spread is obviously better ... disperse should be considered as a charge to your receptive and final from a transaction. Plus at that disperse you'd better have big take profits / stop losses. On the other hand if you have a egy that works with these pairs and requires the disperse into account then select it ... It depends on which trading methods you're using at this time , in case you currently doing scalping of course tighter spreads may causes a great trouble when using scalping. Because , success on scalping constantly is determined by most cheapest trading spreads.

kevin8893
08-14-2021, 08:00 PM
quote I don't really find any issue with that. Every time a new trader finds that there's room for more trades since he's utilizing high leverage, he tries to increase lot size for more profit, that's the point where the risk is. High leverage in itself isn't bad in anyway. Commerce volume that is high is your issue. I agree, actually. My purpose was, higher leverage may be a double-edged blade if you choose precisely the kind of risks you are describing. Some people do that. What I meant was everything you said, '' I should have clarified, my apologies.

enriqwolea
08-14-2021, 09:21 PM
Hello. What would happend with the price of, for example, EUR/USD if anybody buy 10Â 000Â 000 of EUR? I dont know how big the amount must be to affect the price. (You said newbie questions)

inesst99
08-14-2021, 10:42 PM
Forex newbie here. I will continue to keep a demo account for few mo. to see if I could survive. I have some questions so pls help me. MT4 - I went to the MT4 website and clicked MT4 to download it however I see 5 on the icon and all files at the indior folder have ex5 mq5 extensions. Does that mean this is MT5 not MT4? If so, would this be a problem if I want to use a custom indior from this forum? 2. Indior alert (noise push notifiion) - this wouldn't work if my computer is away perfect? Is there any delay until you actually... 1. You have download MT out of your broker. Once you open your demo account normal broker provide a connection for MT4 with some broker's presetting.
2. Correct, a Forex trading platform requires 24/7. You can use VPS for EA
3. Be mindful about little spreads ordinary it means commissions.