Hi Jenna,
I'm still a beginner myself - I was asking the same questions 6 months ago. I don't know of any brokers using MT4 that I would trust. I suggest you really research this, since choosing the right broker is key to getting paid if you make a profit. I chose Oanda because they allow very very small accounts, you can trade as little $1, they've been around since 1996 so they are ancient in the forex world, and they are well capitalized with over $100MM invested in the company. They can afford to pay you! Some brokers have less than $5MM in capitalization which is an incentive to them to trip up winning traders by stop hunting, etc.
I always wondered why people complain about Oanda's charts though, and once I tried MT4 I could see why. They are very limited, have no alerts, only go back 12 months or so. I've started using MT4 for charting and alerts, and then taking trades in Oanda. The prices are almost identical, especially on the larger time frames.
Finally, be sure to visit babypips.com and go to school. I've printed out every page from the school and it has been invaluable. I also can't say enough good things about John J Murphy's book "Technical Analysis of the Financial Markets." It's a bargain at $53 on Amazon and will fill your head with enough TA to make it spin. I'm about to read it a second time. And visit the James16 thread here on FF!
I'm still a beginner myself - I was asking the same questions 6 months ago. I don't know of any brokers using MT4 that I would trust. I suggest you really research this, since choosing the right broker is key to getting paid if you make a profit. I chose Oanda because they allow very very small accounts, you can trade as little $1, they've been around since 1996 so they are ancient in the forex world, and they are well capitalized with over $100MM invested in the company. They can afford to pay you! Some brokers have less than $5MM in capitalization which is an incentive to them to trip up winning traders by stop hunting, etc.
I always wondered why people complain about Oanda's charts though, and once I tried MT4 I could see why. They are very limited, have no alerts, only go back 12 months or so. I've started using MT4 for charting and alerts, and then taking trades in Oanda. The prices are almost identical, especially on the larger time frames.
Finally, be sure to visit babypips.com and go to school. I've printed out every page from the school and it has been invaluable. I also can't say enough good things about John J Murphy's book "Technical Analysis of the Financial Markets." It's a bargain at $53 on Amazon and will fill your head with enough TA to make it spin. I'm about to read it a second time. And visit the James16 thread here on FF!
