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Meta Trader

  • #1
  • First Post: Apr 16, 2006 9:25am Apr 16, 2006 9:25am
I have a quick question and would love any ones input. I have been demo trading for alomst 2 yrs now and am about to go live. I was wondering what people think about Meta Trader.
JOHN 3:16
  • #2
  • Apr 16, 2006 9:49am Apr 16, 2006 9:49am
i love it !
its an average charting software integrated with a trading terminal .
there is much better charting software out there ,and also beter terminals , but meta trader is a convenient one.

one of the most important attributes for metatrader , is its bulit-in programing language . you can do anything you want ! create custom indicators and experts and scripts ... and there are many many indicators and experts created by people you can use .
  • #3
  • Apr 16, 2006 1:53pm Apr 16, 2006 1:53pm
Is Metatrader free? Do you need to be a client?
  • #4
  • Edited 4:38pm Apr 16, 2006 4:00pm | Edited 4:38pm
for using meta trader , u can sign up for a demo account and use it

many brokers work with metatrader
  • #5
  • Apr 17, 2006 8:39am Apr 17, 2006 8:39am
what do you guys think of interbank fx?

I have been playing with meta trader and and am using interbank for a little while. When I open an account, it will be a mini. Probably starting with around$1,500. I like the way I can decide how much I want each pip worth. I have been practicing for almost 2 years and I know the only I will last is to use the least amount of money to open a trade or I will be done in 1 or 2 months. The meta trader is free to use.

Any info on interbank would be much appreciated.

thank you
JOHN 3:16
  • #6
  • Apr 17, 2006 8:58am Apr 17, 2006 8:58am
Quoting renasdad
what do you guys think of interbank fx?

I have been playing with meta trader and and am using interbank for a little while. When I open an account, it will be a mini. Probably starting with around$1,500. I like the way I can decide how much I want each pip worth. I have been practicing for almost 2 years and I know the only I will last is to use the least amount of money to open a trade or I will be done in 1 or 2 months. The meta trader is free to use.

Any info on interbank would be much appreciated.

thank you
Have a look at the forum "Interbank Fx the worst of the worst "
  • #7
  • Apr 17, 2006 9:14am Apr 17, 2006 9:14am
I like many use Meta Trader for price feed / charts though I use accounts with non Meta Trader brokers to place trades.

If you have more than one PC, it is a good idea to open a account with two different brokers using Meta Trader, so if one feed goes down, you will still have the other. I experience down time once every 2/3 weeks.

Demo accounts seem fine to use just for charting.
  • #8
  • Apr 17, 2006 1:55pm Apr 17, 2006 1:55pm
Quoting hagadol

If you have more than one PC, it is a good idea to open a account with two different brokers using Meta Trader, so if one feed goes down, you will still have the other. I experience down time once every 2/3 weeks.

Demo accounts seem fine to use just for charting.
Why do you need multiple machines? I've run multiple copies of Metatrader from different brokers on the same machine. I use one for testing and other for trading.
  • #9
  • Apr 17, 2006 3:44pm Apr 17, 2006 3:44pm
I was going to use Interbank but for some reason I went with FXSol instead. It might have been the various problems I have with order entry in MT4.

I like everything else about MT4 including the charting. I love the profiles feature. I like being able to step through charts bar by bar to test price action techniques. I like writing experts and indicators though the API is a little cumbersome. Backtesting is nice, but I never have gotten optimization to work.

The best MT4 demo I've tried is from StrategyBuilderFX. It comes set up to trade some non-Forex stuff like gold, S&P, IBM, etc.
  • #10
  • Edited 4:37pm Apr 17, 2006 4:34pm | Edited 4:37pm
Quoting renasdad
what do you guys think of interbank fx?

I have been playing with meta trader and and am using interbank for a little while. When I open an account, it will be a mini. Probably starting with around$1,500. I like the way I can decide how much I want each pip worth. I have been practicing for almost 2 years and I know the only I will last is to use the least amount of money to open a trade or I will be done in 1 or 2 months. The meta trader is free to use.

Any info on interbank would be much appreciated.

thank you
Hey renasdad,

To address your MM using $1500. I'm not sure what kind of trader you are, but I did a little calculating for u. I assumed you were going to trade with no larger than 3% risk on your account. You really should consider staying below $1 per pips on your trades ... on most pairs u can handle between 25 - 45 stop losses ... that's worst case if you lose 20 times in a row ... u would have 50% of your account left.

Bring your price per pip down ... 0.50 cent per pip ... and 3% risk. Your looking at 50 - 90 stop losses ... worst case if you lose 20 times in a row ... u would have 50% of your account left.

Go down even lower ... 0.25 cent per pip ... and 3% risk. Your looking at 100 - 180 stop losses ... that's worst case if you lose 20 times in a row ... u would have 50% of your account left.

Ok .. 1 more ...0.10 cent per pip ... and 3% risk. Your looking at 252 - 450 stop losses .... worst case if you lose 20 times in a row ... u would have 50% of your account left.

Now, you don't have to set your stops so big, but knowing your risk will relax you while trading live. You won't get rich, but u will be trading live and more importantly learning how to manage a larger account when u get to that point.

I hope this helps ... Happy Trading ...
If it is not broken, fix it until it is!
  • #11
  • Apr 18, 2006 6:54am Apr 18, 2006 6:54am
PIPEX,


That is exactly my plan at first. My goal, is only to be able to provide for my daughter and me. I know it will probably take 2 or maybe even 5 or more years to get there but, When I go live, it will be very small. Maximum of 50 cents a pip. My problem is having the patience for my indicators to get lined up before I push that button. I was demoing with FXCM and the problem I was having with them was that in a mini account, a person could not change that amount they wanted each pip worth. It was a set amount. any where from about 75 cents to $1 per pip. Thank you all to who have posted. I just want to get the best "bang for my buck".
JOHN 3:16
  • #12
  • Apr 18, 2006 6:58am Apr 18, 2006 6:58am
You guys should go check this out. http://www2.oanda.com/cgi-bin/msgboa...5;t=004903;p=1
I really think there is something to this. I have been doing some backtesting on it. It seems to work pretty good. I know there is no unbeatable system out there because of how so many things can effect forex but, it is worth having a look.
Good luck
JOHN 3:16
  • #13
  • Apr 18, 2006 7:23am Apr 18, 2006 7:23am
Quoting Pipex
Hey renasdad,

To address your MM using $1500. I'm not sure what kind of trader you are, but I did a little calculating for u. I assumed you were going to trade with no larger than 3% risk on your account. You really should consider staying below $1 per pips on your trades ... on most pairs u can handle between 25 - 45 stop losses ... that's worst case if you lose 20 times in a row ... u would have 50% of your account left.

Bring your price per pip down ... 0.50 cent per pip ... and 3% risk. Your looking at 50 - 90 stop losses ... worst case if you lose 20 times in a row ... u would have 50% of your account left.

Go down even lower ... 0.25 cent per pip ... and 3% risk. Your looking at 100 - 180 stop losses ... that's worst case if you lose 20 times in a row ... u would have 50% of your account left.

Ok .. 1 more ...0.10 cent per pip ... and 3% risk. Your looking at 252 - 450 stop losses .... worst case if you lose 20 times in a row ... u would have 50% of your account left.

Now, you don't have to set your stops so big, but knowing your risk will relax you while trading live. You won't get rich, but u will be trading live and more importantly learning how to manage a larger account when u get to that point.

I hope this helps ... Happy Trading ...


Hey Pipex,

With referance to above, which broker would allow me to trade these low amounts per pip (50, 25, and 10 cent pips). Ta

Yellow
  • #14
  • Apr 18, 2006 8:11am Apr 18, 2006 8:11am
yellow 2,

I found interbank fx to allow that.
JOHN 3:16
  • #15
  • Apr 18, 2006 6:34pm Apr 18, 2006 6:34pm
I don't know if anyone checked out that link that I posted earlier but, I think it is the closest thing to a "Holy Grail" that I have tried. I feel this system will keep me in the minute 5% that succeed at forex.

I strongly suggest giving it a try!!
JOHN 3:16
  • #16
  • Apr 19, 2006 8:16am Apr 19, 2006 8:16am
Quoting renasdad
yellow 2,

I found interbank fx to allow that.


Thanks renasdad

Y2
  • #17
  • Apr 19, 2006 1:56pm Apr 19, 2006 1:56pm
Quoting Yellow2
Hey Pipex,

With referance to above, which broker would allow me to trade these low amounts per pip (50, 25, and 10 cent pips). Ta

Yellow
Hey Yellow2,

My broker is Oanda. I really like them alot.

Happy Trading ....
If it is not broken, fix it until it is!
  • #18
  • Apr 19, 2006 3:44pm Apr 19, 2006 3:44pm
Quoting Pipex
Hey Yellow2,

My broker is Oanda. I really like them alot.

Happy Trading ....
Ta Pipex, I'll check them out also.

Y2
  • #19
  • Last Post: Aug 28, 2007 6:31am Aug 28, 2007 6:31am
Quoting Pipex
Hey Yellow2,

My broker is Oanda. I really like them alot.

Happy Trading ....
Interactive Brokers are also not so bad.
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