Montreal, Quebec/Canada
Experience: Intermediate
Platform: Sierra Chart
Broker: IB/SC Exchange Data Feed
Trading: CL, ES
Posts: 94 since Nov 2013
Thanks Given: 63
Thanks Received: 183
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Here's my quick take on your questions:
1. MT4 is a very good for charting purposes, and it was designed originally for forex. This is why it's best known in forex. Keep in mind that while it's a good charting software, it's not the best for order executions. As for stocks & indexes, other platforms such as Ninjatrader & Tradestation dominate. Both are charting & execution software rolled into one. If you are a longer term trader, these differences might not matter so much. However, for daytraders, speed of execution & minimum slippage are very important.
2. For traders just starting out (or any trader who is not yet consistently profitable), minimum leverage (or no leverage at all) is of utmost importance. This is easy to do in forex, where you can trade in mini & micro lots. That's why forex is the perfect place to start learning for most beginners with small capital (anything less than $10,000). Basically you want to trade as small as possible (but with real money, not demo) while learning the ropes; until you gain enough experience and wisdom to have a solid profitable trading method. Then, and only then, should you ramp up the leverage. Warning: this usually takes years (no less than the time it takes to complete a college degree).
3. Sorry, can't help you there, since I'm in North America. Learning how to trade via forex by going with a reputable MT4 broker is certainly not a bad way to start your journey. Once you know how to trade profitably, you can pretty much trade any market profitably. There's no rush. Take your time and build a solid foundation first. At your stage, the broker/platform matters much less than the time and effort you put into your education.
Good luck and good trading!
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