I like MT4, but OANDA only lets you trade .01 lots (100 shares) and I'm just not comfortable trading large sizes as of yet.
I see what you are saying about the moving averages. Do you find it good and working for you? Right now I have the 200EMA and the 20EMA on my charts but don't really find them of use at all and if by then it is too late. I tried a system of MA's that crosses each other (only briefly) and abandoned the whole idea to study price action more directly.
"Judge yourself not by the outcome, but by your process."
Last edited by jamiecassar; February 22nd, 2014 at 01:07 PM.
Sorry that I'm only replying now. I' m using the Moving Average 3 - MA Method - Linear Weight - Apply to - Close and the Moving average 8 or 13- Simple - Close. Put all of them on a graph and see which one works the best. I mostly play the EURUSD currency pair and it works 100% for me.I use the above settings from the M1 to M30. If I only use 1 chart per currency pair I set my moving average on 5 - Linear Weight and then I've got 13 and 21 - Simple -and Close. Then you can change that 1 chart from M 30 up to Monthly and it still works, all depends on what type of trader you are, whether you do scalping or day trading.on the bigger timeframes.You must just remember and you will also see after you have installed those Moving Averages on your charts, that every X- over is not always a winner, but that's how it goes in forex. But you must be prepared to have losing trades to in between the winning trades. Set your Stop Loss according to your Risk profile and you will see that your winning are bigger than your losses. After Installing the Moving Averages scroll back on your charts and see what it did in the passed. If you want some more info just let me know and I will help you where I can.
Have you tried MT5 ? The extra time frames, dragging and dropping orders are nice features over MT4, has similar speed but it seems to group orders together instead of keeping them separated like MT4. Do you have any experience with it ?
Favorite Futures: Forex (everything that moves with force)
Posts: 11 since Feb 2014
Thanks: 8 given,
Hello, in mt4 platform we can also do various types of graphs different time horizons, with a simple indicator. For example , we can merger coorelated pairs in one graf, example: imagine i like to trade some positive coorelated pairs (eurjpy,gbpjpy,nzdusd,gbpusd,audjpy) we can made on simple chart at the time frame that we want:
Personally I use mt4 in several brokers, we can depending on the brokers have better or worse conditions, as I am now so used to its full functionality, hardly will change.
Using Mt4 from several year, and Ninjatrader from some months, second one is more powerful but lack in some basic feature like a historical date search or the usefull middle mouse feature to quickly check Ticks and bars distances between two points..
Mt4 is more simple but for this reason more user friendly