MetaTrader 4 - futures io
futures io futures trading



MetaTrader 4


Discussion in Platforms and Indicators

Updated
      Top Posters
    1. looks_one LukeGeniol with 6 posts (6 thanks)
    2. looks_two Ingot54 with 4 posts (1 thanks)
    3. looks_3 FXVIP with 4 posts (0 thanks)
    4. looks_4 Linds with 4 posts (6 thanks)
      Best Posters
    1. looks_one jtrade with 2 thanks per post
    2. looks_two Linds with 1.5 thanks per post
    3. looks_3 bluemele with 1.3 thanks per post
    4. looks_4 LukeGeniol with 1 thanks per post
    1. trending_up 9,867 views
    2. thumb_up 21 thanks given
    3. group 8 followers
    1. forum 29 posts
    2. attach_file 2 attachments




Welcome to futures io: the largest futures trading community on the planet, with well over 125,000 members
  • Genuine reviews from real traders, not fake reviews from stealth vendors
  • Quality education from leading professional traders
  • We are a friendly, helpful, and positive community
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts
  • We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

(If you already have an account, login at the top of the page)

Closed Thread
 
Search this Thread
 

MetaTrader 4

(login for full post details)
  #1 (permalink)
Sydney,NSW,Australia
 
Experience: Advanced
Platform: MT4 MT Predictor NT
Trading: Forex, futures stocks
 
Posts: 5 since Sep 2009
Thanks: 12 given, 0 received

G'day from Australia

I've recently started trading in currencies and from whart I've seen briefly in your blog you also dabble in Murrey Maths.

My first question is that you have downloads for Ninja and E S but I was wondering if either you or your members use MetaTrader4. I would like to get hold of an EA download for the Murrey Maths indicator you use.

I'm only starting out in currencies - with not much success to date but I'm VERY conscious of Money Management but recently came across the MM and would like to use it in demo mode.

Sorry, it's getting very late here (12.15am). Hope you may be able to help. Will look more at you forum and b log tomorrow

Cheers

Follow me on Twitter Started this thread

Journal Challenge February 2021 results:
Competing for $1500 in prizes from Topstep
looks_oneSBtrader82 's Trading Journalby SBtrader82
(173 thanks from 31 posts)
looks_twoJust BEING a Trader: Letting Go!!by iqgod
(120 thanks from 33 posts)
looks_3Wisdom is Emptinessby Mtype
(68 thanks from 25 posts)
looks_4Deetee’s DAX Trading Journal (time based)by Deetee
(35 thanks from 17 posts)
looks_5Journal for peanuts1956by peanuts1956
(23 thanks from 13 posts)
 
 
(login for full post details)
  #2 (permalink)
Site Administrator
Swing Trader
Data Scientist & DevOps
Manta, Ecuador
 
Experience: Advanced
Platform: My own custom solution
Trading: Emini Futures
 
Big Mike's Avatar
 
Posts: 49,765 since Jun 2009
Thanks: 32,302 given, 97,540 received

Hi Charley, I moved your post to General and gave it a different title which I think will help get you the answers you are looking for.

Thanks,
Mike

We're here to help -- just ask

For the best trading education, watch our webinars
Searching for trading reviews? Review this list

Follow us on Twitter, YouTube, and Facebook

Support our community as an Elite Member:
https://futures.io/elite/
Follow me on Twitter Visit my futures io Trade Journal
 
(login for full post details)
  #3 (permalink)
Australia
 
 
Posts: 4 since Aug 2010
Thanks: 1 given, 1 received


Hi Mike ... would you mind posting the following please:

a) The Name of the thread that this has been changed to ... and
b) the url (link) of that new thread.

I am unable so far to locate any forum called "General" so can not go back through the dates to locate this thread. I need to browse more, but so far finding navigation of the forum a bit tough ... cluttered. jmv

It might not seem obvious, but maybe that's why Charleyfarley never made any more posts ... you need to give people more info man.

I appreciate that MT4 threads are not popular here ... I didn't realise that when I joined. I can see that Ninja is all the go here.

Anyway ... whatever ... I look forward to contributing where I can see it may be of benefit.

Kind regards

Ivan

 
(login for full post details)
  #4 (permalink)
Victoria, Australia
 
Experience: Intermediate
Platform: NT, MT4
Broker: NT
Trading: Bund , ASX 200
 
Linds's Avatar
 
Posts: 412 since Jul 2010
Thanks: 909 given, 522 received

Hi

Try here

Trading using Murray Maths and Price Action - Page 140 @ Forex Factory

post #2095 has a download link for a MM indicator

In case you are not aware, Forex Factory has predominantly MT4 traders and related info.


lol..just noticed the question is a year old......

Visit my futures io Trade Journal
The following 2 users say Thank You to Linds for this post:
 
(login for full post details)
  #5 (permalink)
Australia
 
 
Posts: 4 since Aug 2010
Thanks: 1 given, 1 received

Thank you Linds ... much appreciated.

Edit: I came across this thread through a search for "Metatrader4" or "Metatrader".

Charleyfarley lists his trading experience as "Advanced", and I was hoping to follow his trail to something better, since the thread had been moved, and the title changed.

When I joined futures.io (formerly BMT) it looked like a good forum, and my question was an attempt to overcome what seems (only to me) to be a few limitations.

I have no idea what might be available in the "Elite" section, and thought the basic forum may have been representative of the "Elite" section.

If this is the case, then I need look no further, seeing that it is fairly clear that I am a foreigner, with interests outside the local group.

That is not a problem for me, and if some time in the future I come to be converted to NinjaT, I know where to look.

Kind regards

Ivan

 
(login for full post details)
  #6 (permalink)
Victoria, Australia
 
Experience: Intermediate
Platform: NT, MT4
Broker: NT
Trading: Bund , ASX 200
 
Linds's Avatar
 
Posts: 412 since Jul 2010
Thanks: 909 given, 522 received

no worries Ivan
I trade spot forex using MT4 and have found it ok for my style and time frames. There is the usual fears around the non centralised market and dodgy Fx brokers and many traders argue strongly that futures exchange based trading is safer and better and so on. I wouldnt bother trading anything resembling a scalping methodology on MT4 forex pairs as executions and slippage can damage the edge at times [but many do it]- but with a reputable broker and timeframes over M15 have been fine in my exerience.

Visit my futures io Trade Journal
 
(login for full post details)
  #7 (permalink)
Italy (IT)
 
Experience: Advanced
Platform: ATAS, R|Trader, NT8
Broker: Rithmic
Trading: CL, Brent, GC, TF
 
LukeGeniol's Avatar
 
Posts: 1,501 since Apr 2010
Thanks: 408 given, 984 received

MT4 is a toy to play with fancy indicators and EAs.

Take your Pips, go out and Live.
Luke.
The following user says Thank You to LukeGeniol for this post:
 
(login for full post details)
  #8 (permalink)
Australia
 
 
Posts: 4 since Aug 2010
Thanks: 1 given, 1 received


LukeGeniol View Post
MT4 is a toy to play with fancy indicators and EAs.

... and what a brilliant toy it is too, Luke.
Some of us would walk a long way to grab some of these features.

No doubt you are familiar with some of them ...

1) Free
2) Fully customisable
3) Did I mention that it is FREE?
4) Thousands of indicators available that simply slot straight in
5) Thousands of Templates ... ditto
6) Thousands of systems ... ditto
7) Available in mini or full lots, and in demo or Live ... and all still for FREE!
8) No data charges
9) Add your own ... *

As the creator of the 3D Rainbow MA chart in 2004 ( Google "Rainbow 3D Moving Averages" to get a look at my work) I like the usefulness of MT4. Have a look at a thread I created on babypips called "INGOT'S RAINBOW ... A Position Trading Strategy" to see some cool charts.

I have found the MT4 platform lends itself to this style of chart very readily, and it is not heavy on resources.

I can't comment on other types of charting, except that I have tried the GFT Dealbook 360 and the IG Markets Pure Deal, and have found both outside my patience zone! Nuff said about them both, except both claim that their charts are "state of the art" ...

So I can not comment on NinjaTrader, other than to recognise it has a powerful following, for reasons I have not investigated yet. Here in Australia we have a nicely organised and well regulated industry, and we trust our brokers, generally speaking.

And so we tend to use whatever is offered, with whatever data they offer.

In my case I simply seek reliability, and accurate execution, with zero slippage ie ... the price I click on is the price I expect to get. Naturally I expect there is zero slippage as well with Ninja Trader, so it comes down to preference, as opposed to "better". If I get jerked around, I walk ... very easy!

So I leave you with one of mine ...

Best wishes

Ivan

Attached Thumbnails
Click image for larger version

Name:	AUDUSD 15M.GIF
Views:	261
Size:	62.4 KB
ID:	20210  
 
(login for full post details)
  #9 (permalink)
Australia
 
 
Posts: 4 since Aug 2010
Thanks: 1 given, 1 received

I wasn't thinking ... I could have posted the template on the thread for anyone interested ... I have tried to do that ... lets preview.

EDIT: OK ... looks like it uploaded ... a gift for MT4 platform users.

Best wishes

Ivan

Attached Files
Register to download File Type: tpl rainbow + stochs.tpl (11.8 KB, 60 views)
The following user says Thank You to Ingot54 for this post:
 
(login for full post details)
  #10 (permalink)
Italy (IT)
 
Experience: Advanced
Platform: ATAS, R|Trader, NT8
Broker: Rithmic
Trading: CL, Brent, GC, TF
 
LukeGeniol's Avatar
 
Posts: 1,501 since Apr 2010
Thanks: 408 given, 984 received


Ingot54, I know very well MT4, I used it for more than 2 years, and sometimes I play with it now too. What I think is that MT4 was builded around forex retail market and brokers to grab money to people, there's a great business around from EAs and indicators sellers, that born out like fungi, to retail broker that offer mini-micro accounts, lots etc. This is not real trading, no slippage and immediate filling orders is a mith, and u can't see the bid ask quotes and bid ask size. Try to sim trade futures with NT and u can understand a bit how works real market, real forex spot works the same.

Take your Pips, go out and Live.
Luke.
 
(login for full post details)
  #11 (permalink)
Hungary
 
Experience: Beginner
Platform: N/A
Trading: Forex
 
Arpad's Avatar
 
Posts: 34 since Dec 2010
Thanks: 145 given, 9 received

Hello Dear Fellow Traders,

I’m not started trading live yet, and I still have to decide which trading platform to use. I have a clean state, so I would use virtually any platform.
I know the vast majority of the traders here use NinjaTrader. I also know it has lots of features, and which is equally important, lots of brokerages offer it as a trading platform to trade through them.

How about MetaTrader?
I plan to trade primarily (but at the start, exclusively) spot forex. Because of this, and because of my pursuit of knowledge, I sometimes read ForexFactory, too. So I know that the vast majority of traders there use MetaTrader. What might be the reasons for this?

· Is it because MetaTrader is known specifically as a forex trading platform? Actually, the most widely known trading platform for forex?
· Or is it because the forex market is unregulated, and the small and little-known brokerage firms (some bucket-shops among them) offer primarily (or only) MetaTrader?
· So does this mean lots of forex traders started to use MetaTrader not because it is any better than for example NinjaTrader, but because this was their only (or best) choice? I mean lots of small forex brokers offer only MetaTrader, so you can’t chose anything else.

Maybe there are some features or advantages of MetaTrader that I don’t know…
I would like you to share your thoughts about this.
I especially would like to read the observations of @Linds and @LukeGeniol, as it seems they have first-hand experiences about MetaTrader.


I repeat, I would exclusively trade spot forex.
How should I choose?
Does MetaTrader offer something that would reason sticking to it?
Or conversely, NinjaTrader offers some things that would reason choosing a broker offering NinjaTrader (even if this considerably narrows down the number of possible brokers)?
Or finally it comes down to matter of taste?

Anyway, I would trade intraday, short time frames. I wouldn’t use fancy indicators or DOM, Market Profile, Volume Ladder, just moving averages.


Thanks for sharing your thoughts.
Successful trading to all of you.
Arpad

 
(login for full post details)
  #12 (permalink)
Victoria, Australia
 
Experience: Intermediate
Platform: NT, MT4
Broker: NT
Trading: Bund , ASX 200
 
Linds's Avatar
 
Posts: 412 since Jul 2010
Thanks: 909 given, 522 received

· Is it because MetaTrader is known specifically as a forex trading platform? Actually, the most widely known trading platform for forex?
· Or is it because the forex market is unregulated, and the small and little-known brokerage firms (some bucket-shops among them) offer primarily (or only) MetaTrader?
· So does this mean lots of forex traders started to use MetaTrader not because it is any better than for example NinjaTrader, but because this was their only (or best) choice? I mean lots of small forex brokers offer only MetaTrader, so you can’t chose anything else.


It is a widely used platform for Forex but some brokers also have gold, silver , other commodties and indexes available ( the spreads on these are usually crap but the spreads on the major forex pairs are not too bad). IMO it is widely used because it is free and so easy to access. It also has heaps of functionality and support is easy to get. It is not the devil as some will argue - but you have to know its limitations and use a reputable broker. T

Yes Forex is not done on a central exchange. But the bigger MT4 broker use substantial interbank feeds and have 'straight through processing'...if this is the case then they are not the 'bucket shop' variety who take the other side of yout trade etc.

It is not 'better' than Ninjatrader it is very different. I have never used NT for Forex persay - only the currency futures and indexes, so others who have used Ninja for Forex can comment on that.

MT4 will never compete with NT in terms of execution speed and therefore slippage. NT is superior if the instrument is exchange traded. Therefore scalping on low timeframes is not a great strategy on MT4. If you do, then expect a lot of slippage especially if you use market orders and this is especially the case for pairs other than the majors.


Mt4 is a good tool to learn on because you can get free demo platforms and sim trade to developo your plan and hone the execution skills. Then because of the great postion size flexibility on MT4 you can start off at 10c a pip and gadually size up if your result warrant it. If you get anywhere near full lots then it is probably time to seriously look at another platform IMO as the slippage will be costing you a lot.

L

Visit my futures io Trade Journal
The following 3 users say Thank You to Linds for this post:
 
(login for full post details)
  #13 (permalink)
Honolulu, Hawaii
 
Experience: Intermediate
Platform: NinjaTrader
Broker: ATC/TT, AMP/Zen-Fire, AMP/CQG
Trading: TF
 
bluemele's Avatar
 
Posts: 2,547 since Jun 2010
Thanks: 3,803 given, 2,835 received

MT4/MT5 is a VERY Stable platform. If you swingtrade forex, I highly suggest MT4 over any other platform, but if you are scalping, I would avoid it.

The brokers actually have MT4 software on their end and they can manipulate how much slippage to give you and what not. ECN brokers are kind of a farce. I did ECN as well and the fills are terrible except for limit orders etc..

NT has limited Forex feeds or at least they used to! I suggest scalping using the broker interface over MT4.

Good luck!

Visit my futures io Trade Journal
The following 2 users say Thank You to bluemele for this post:
 
(login for full post details)
  #14 (permalink)
Hungary
 
Experience: Beginner
Platform: N/A
Trading: Forex
 
Arpad's Avatar
 
Posts: 34 since Dec 2010
Thanks: 145 given, 9 received

Thanks for your valuable inputs!

Guys, excuse me if I seem to be a little slow on the uptake. I just want to know the reasons to make a right decision with which I can live with for an extended time period, without regretting my decision after a while.

@Linds,

· Why haven’t you never used NT for Forex, if, as you say, MT4 will never compete with NT in terms of execution speed and therefore slippage?

· “NT is superior if the instrument is exchange traded.” It’s clear. But if in that case NinjaTrader is superior, why isn’t it superior in case of forex trading?

· scalping on low timeframes is not a great strategy on MT4.” Is scalping more viable through NinjaTrader? Why is this? Do you say that if I would use an account at a big, reputable brokerage firm to trade forex (assume this broker offers both MT and NT), the slippage would be bigger in case of MetaTrader than in case of NinjaTrader? Why?

· “good tool to learn” is not a factor for me because I can open demo accounts with NinjaTrader at several brokers, also.

· “because of the great position size flexibility on MT4…” Isn’t NinjaTrader as flexible on position sizing as MetaTrader? This is very important to me, so please, elaborate this.

· If one can find a reputable forex broker (e.g. a big commodity broker also offering forex), and it offers not only MetaTrader but NinjaTrader also, isn’t it a straightforward decision to choose NinjaTrader because of your claims about MT?



@bluemele,

· “if you are scalping, I would avoid it”. It’s clear; it is in conformity with Linds’ statements.
But why do you highly suggest MT4 over any other platform in case of swing trading?
Because it is more stable than NinjaTrader (fewer hang-ups, freezing)?
Or because it has more features?
Or because you have more brokers to choose from?
How NinjaTrader is weaker or worse in case of forex swing trading?



Thanks for your help!

 
(login for full post details)
  #15 (permalink)
Victoria, Australia
 
Experience: Intermediate
Platform: NT, MT4
Broker: NT
Trading: Bund , ASX 200
 
Linds's Avatar
 
Posts: 412 since Jul 2010
Thanks: 909 given, 522 received

@ Linds,

· Why haven’t you never used NT for Forex, if, as you say, MT4 will never compete with NT in terms of execution speed and therefore slippage?

· “NT is superior if the instrument is exchange traded.” It’s clear. But if in that case NinjaTrader is superior, why isn’t it superior in case of forex trading?

· scalping on low timeframes is not a great strategy on MT4.” Is scalping more viable through NinjaTrader? Why is this? Do you say that if I would use an account at a big, reputable brokerage firm to trade forex (assume this broker offers both MT and NT), the slippage would be bigger in case of MetaTrader than in case of NinjaTrader? Why?

· “good tool to learn” is not a factor for me because I can open demo accounts with NinjaTrader at several brokers, also.

· “because of the great position size flexibility on MT4…” Isn’t NinjaTrader as flexible on position sizing as MetaTrader? This is very important to me, so please, elaborate this.

· If one can find a reputable forex broker (e.g. a big commodity broker also offering forex), and it offers not only MetaTrader but NinjaTrader also, isn’t it a straightforward decision to choose NinjaTrader because of your claims about MT?


Good questions and its important to make good decisions based on your trading needs. I swing trade with MT4 and trade lower timeframes on NT using tick and range bars- which you wont find on MT4 afaik. With swing trading, execution speed and slippage are far less significant and really not an issue. This is because with a swing trade you are targeting maybe hundreds of pips so if slippage costs you a few pips so what. But if you are scalping for 10 pips and lose 3 on slippage -that is going to screw the bottom line quickly.


Trading forex on NT still means using forex brokers and so of course it is still not through a central exchange. You need to hear from someone who uses NT for Forex who can comment on execution speeds and slippage and how it might work for scalping. Of course if you are happy to stick with 6E, 6B, 6A, 6C, 6S and 6J, the indexes and gold then you can avoid forex brokers altogether and use a futures broker. If you do this then the way is open for scalping by taking advantage of good execution speeds through the regulated exchanges. But the dilemma then is your position sizing is very limited and you'll need a decent account size when you go live. I think NT forex brokers ('Gain' for instance?)do offer good flexibility with position sizing but again you would have to hear from someone doing it or talk directly to the brokers.

With regard to your last point.possibly yes..but as I dont have direct experience of NT for Forex I cant say that with any conviction.

Some advantages of MT4
Free - no limit on how many occurances you can have running
Easy access to heaps of historical data
Good position size flexibility
Plenty of free phone apps for monitoring swing trades
Widely used so can get support easily

Some Disadvantages
Execution speed is often poor ( I often see 3 to 5 seconds)
No access to volume or volume derived indicators

Some NT Advantages
Access to futures exchanges and so good execution speed for scalping

NT for forex: Can someone with experience please comment.

best

Linds

Visit my futures io Trade Journal
The following user says Thank You to Linds for this post:
 
(login for full post details)
  #16 (permalink)
near Amsterdam
 
Experience: Advanced
Platform: NinjaTrader
Trading: 6B, 6E
 
jtrade's Avatar
 
Posts: 323 since Feb 2010
Thanks: 426 given, 332 received


Linds View Post
NT for forex: Can someone with experience please comment?

NT + Interactive Brokers = excellent for intraday forex trading.

However, I think min account size may now be $10k and position size =or>$25k.

If <$10k account, I suggest start on MT4 with Oanda & switch if you are not happy with Oanda when account large enough.

The following 2 users say Thank You to jtrade for this post:
 
(login for full post details)
  #17 (permalink)
Italy (IT)
 
Experience: Advanced
Platform: ATAS, R|Trader, NT8
Broker: Rithmic
Trading: CL, Brent, GC, TF
 
LukeGeniol's Avatar
 
Posts: 1,501 since Apr 2010
Thanks: 408 given, 984 received

This is my opinion on MT4.
MBT or Dukascopy with NT permits to handle mini and micro lots, doa search for both on forum.
Or now SierraChart supports FXCM and PFG Best.

Take your Pips, go out and Live.
Luke.
The following 4 users say Thank You to LukeGeniol for this post:
 
(login for full post details)
  #18 (permalink)
Honolulu, Hawaii
 
Experience: Intermediate
Platform: NinjaTrader
Broker: ATC/TT, AMP/Zen-Fire, AMP/CQG
Trading: TF
 
bluemele's Avatar
 
Posts: 2,547 since Jun 2010
Thanks: 3,803 given, 2,835 received


Arpad View Post
“if you are scalping, I would avoid it”. It’s clear; it is in conformity with Linds’ statements.
But why do you highly suggest MT4 over any other platform in case of swing trading?
Because it is more stable than NinjaTrader (fewer hang-ups, freezing)?
Or because it has more features?
Or because you have more brokers to choose from?
How NinjaTrader is weaker or worse in case of forex swing trading?



Thanks for your help!

MT4 is the defacto trading platform for retail traders on forex. This creates a large group of sophisticated retail traders using the same platform. This creates a lot of programmers and or indicators and flexibility in changes to be made etc.. More brokers to choose from for forex.... It is so much more stable, I have left it on for a month without issues and taking many many trades automatically "LIVE" per day. Good platform, but easily manipulated by broker so swing trading is the only thing I suggest.

Visit my futures io Trade Journal
The following user says Thank You to bluemele for this post:
 
(login for full post details)
  #19 (permalink)
Toronto Canada
 
Experience: Intermediate
Platform: ninja Trader, Ensign,Market Delta
Broker: AMP,Global Futures
Trading: Eminis
 
Posts: 97 since Jun 2009
Thanks: 46 given, 83 received


bluemele View Post
MT4 is the defacto trading platform for retail traders on forex. This creates a large group of sophisticated retail traders using the same platform. This creates a lot of programmers and or indicators and flexibility in changes to be made etc.. More brokers to choose from for forex.... It is so much more stable, I have left it on for a month without issues and taking many many trades automatically "LIVE" per day. Good platform, but easily manipulated by broker so swing trading is the only thing I suggest.


Can you please explain how MT4 easily manipulated by brokers. Thanks in advance

The following user says Thank You to KJAVED for this post:
 
(login for full post details)
  #20 (permalink)
Italy (IT)
 
Experience: Advanced
Platform: ATAS, R|Trader, NT8
Broker: Rithmic
Trading: CL, Brent, GC, TF
 
LukeGeniol's Avatar
 
Posts: 1,501 since Apr 2010
Thanks: 408 given, 984 received


KJAVED View Post
Can you please explain how MT4 easily manipulated by brokers. Thanks in advance

Take a look here MT4 Brokers' Virtual Dealer Plug-In @ Forex Factory

Take your Pips, go out and Live.
Luke.
The following user says Thank You to LukeGeniol for this post:
 
(login for full post details)
  #21 (permalink)
Hungary
 
Experience: Beginner
Platform: N/A
Trading: Forex
 
Arpad's Avatar
 
Posts: 34 since Dec 2010
Thanks: 145 given, 9 received

Just a reminder to everyone: we are talking about spot forex trading.

It’s scary and disgusting what you can read in the above link about the MetaTrader Virtual Dealer Plug-In and what fraudulent dealers can do with it.
Some people argue good things about MetaTrader. So the question is, what if you choose a trustworthy broker?

I think it’s very important to choose a trustworthy broker regardless of application you use. It’s a base for you, so it’s very important.
So I assume everyone chooses a trustworthy broker whether he wants to use MetaTrader or another platform to trade…

The question is, if you choose a trustworthy broker, may you choose MetaTrader (if you think it is better for you), or regardless of the trustworthiness of a broker, MetaTrader bears a higher level of risk (fraud) compared to e.g. NinjaTrader?
Or if you choose a big, well-known, trustworthy commodity-futures broker who also offers forex and MetaTrader, (e.g. Interactive Brokers, PFG Best etc.), this guarantees that the use of MetaTrader with him as safe and non-fraudulent as the use of e.g. NinjaTrader?
And you can get equally good fills (fast execution, no slippage, no requote) as with NinjaTrader?

 
(login for full post details)
  #22 (permalink)
Hungary
 
Experience: Beginner
Platform: N/A
Trading: Forex
 
Arpad's Avatar
 
Posts: 34 since Dec 2010
Thanks: 145 given, 9 received

I'm curious about your opinion on this.



Arpad View Post
Just a reminder to everyone: we are talking about spot forex trading.

The question is, if you choose a trustworthy broker, may you choose MetaTrader (if you think it is better for you), or regardless of the trustworthiness of a broker, MetaTrader bears a higher level of risk (fraud) compared to e.g. NinjaTrader?
Or if you choose a big, well-known, trustworthy commodity-futures broker who also offers forex and MetaTrader, (e.g. Interactive Brokers, PFG Best etc.), this guarantees that the use of MetaTrader with him as safe and non-fraudulent as the use of e.g. NinjaTrader?
And you can get equally good fills (fast execution, no slippage, no requote) as with NinjaTrader?


 
(login for full post details)
  #23 (permalink)
Boston
 
 
Posts: 16 since Apr 2011


Arpad View Post
I'm curious about your opinion on this.

There is much negativity regarding MT4. It is not MT4 that is shady it is the broker behind it. There are actually a fe MT4 brokers out there that are offering conflict free trading, fast executions, deep liquidity and will allow your ea or strategy to operate without interference. The tough part is finding the 2-3 decent ones out there! I love trading on MT4 because the charting is decent, if I were to switch FX brokers I don't have to learn a new platform, and for a cheap fee i can get my strategy automated and turned into an EA.

 
(login for full post details)
  #24 (permalink)
Honolulu, Hawaii
 
Experience: Intermediate
Platform: NinjaTrader
Broker: ATC/TT, AMP/Zen-Fire, AMP/CQG
Trading: TF
 
bluemele's Avatar
 
Posts: 2,547 since Jun 2010
Thanks: 3,803 given, 2,835 received

MT4 is great if you swing trade. For scalping, use something else because the brokers will eat you alive.

ECN/STP doesn't get you fills if you are market at the price you 'should' be getting, so.....

All brokers are crooked a bit in my opinion, but a matter of how 'crooked'.

Visit my futures io Trade Journal
The following user says Thank You to bluemele for this post:
 
(login for full post details)
  #25 (permalink)
Italy (IT)
 
Experience: Advanced
Platform: ATAS, R|Trader, NT8
Broker: Rithmic
Trading: CL, Brent, GC, TF
 
LukeGeniol's Avatar
 
Posts: 1,501 since Apr 2010
Thanks: 408 given, 984 received

To me MT4 is not fast to send orders x design.

Take your Pips, go out and Live.
Luke.
 
(login for full post details)
  #26 (permalink)
Boston
 
 
Posts: 16 since Apr 2011


LukeGeniol View Post
To me MT4 is not fast to send orders x design.

Once again it is not MT4 that is slow, it is the broker using it. There are some MT4 brokers that can execute in 1millisecond with no slippage....

 
(login for full post details)
  #27 (permalink)
Italy (IT)
 
Experience: Advanced
Platform: ATAS, R|Trader, NT8
Broker: Rithmic
Trading: CL, Brent, GC, TF
 
LukeGeniol's Avatar
 
Posts: 1,501 since Apr 2010
Thanks: 408 given, 984 received


FXVIP View Post
Once again it is not MT4 that is slow, it is the broker using it. There are some MT4 brokers that can execute in 1millisecond with no slippage....

Who are these brokers, you can name them. Anyway MT4 has a poor orders management with few features.

Take your Pips, go out and Live.
Luke.
 
(login for full post details)
  #28 (permalink)
Boston
 
 
Posts: 16 since Apr 2011


LukeGeniol View Post
Who are these brokers, you can name them. Anyway MT4 has a poor orders management with few features.

There are scripts out there for MT4 that allows 1 click trading, etc. MT4 is great if an individual wants to create custom indicators or automate their strategy into an expert advisor. There are many professional programmers that can turn your strategy into a robot for very little money. The charting is decent and I trade at a broker that is straight through processing all orders and i'm getting filled instantly without slippage. If you can create this environment for your trading you have a real chance to execute your strategy and make some money...

 
(login for full post details)
  #29 (permalink)
Boston
 
 
Posts: 16 since Apr 2011


LukeGeniol View Post
Who are these brokers, you can name them. Anyway MT4 has a poor orders management with few features.

I don't really want to hype or promote brokers on this forum but discuss MT4 trading etc...if you are looking for a honest, straight through processing, conflict free trading broker PM me and I will give you your options depending on what country you live in.

 
(login for full post details)
  #30 (permalink)
Site Administrator
Swing Trader
Data Scientist & DevOps
Manta, Ecuador
 
Experience: Advanced
Platform: My own custom solution
Trading: Emini Futures
 
Big Mike's Avatar
 
Posts: 49,765 since Jun 2009
Thanks: 32,302 given, 97,540 received

Moderator Notice
Moderator Notice



Mike

We're here to help -- just ask

For the best trading education, watch our webinars
Searching for trading reviews? Review this list

Follow us on Twitter, YouTube, and Facebook

Support our community as an Elite Member:
https://futures.io/elite/
Follow me on Twitter Visit my futures io Trade Journal
The following user says Thank You to Big Mike for this post:

Closed Thread

futures io Trading Community Platforms and Indicators > MetaTrader 4


Last Updated on July 24, 2011


Upcoming Webinars and Events
 

NinjaTrader Indicator Challenge!

Ongoing
 

Battlestations! Show us your trading desk - $1,500 in prizes!

March
 

Call Option Buying: The New Pain Trade? w/Carley Garner

Elite only
 

Importance of Finding Your Own Way w/Adam Grimes

Elite only
 

New Challenge (TBD)

April
     



Copyright © 2021 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts