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When to upgrade to MT5?

  • #1
  • First Post: Sep 8, 2012 11:04am Sep 8, 2012 11:04am
I have been trading only for a few months and have had the most success with an MT4 platform. I'm wondering if upgrading (and going to the hassle of setting it up) is something I want to spend time on? Anyone using MT5 and seeing advantages over MT4?
Argue for your limitations, and sure enough, they're yours. Richard Bach
  • #2
  • Sep 8, 2012 1:53pm Sep 8, 2012 1:53pm
It's worth converting if you'd like to use one-click trading and better EA optimization and do not care for no-hedging rule.
  • #3
  • Sep 8, 2012 2:21pm Sep 8, 2012 2:21pm
Serious, you can't hedge with MT5? Isn't that up to the broker?
Argue for your limitations, and sure enough, they're yours. Richard Bach
  • #4
  • Sep 8, 2012 4:04pm Sep 8, 2012 4:04pm
As most broker still dont support MT5 yet and there is not much of a big difference for non-EA traders between MT4 and MT5, I would stick with MT4.
  • #5
  • Sep 9, 2012 3:01am Sep 9, 2012 3:01am
Quoting pipsel
Serious, you can't hedge with MT5? Isn't that up to the broker?
There is no way you can keep two positions in opposite direction in one currency pair in MT5.
  • #6
  • Sep 9, 2012 3:56am Sep 9, 2012 3:56am
Quoting enivid
There is no way you can keep two positions in opposite direction in one currency pair in MT5.
This is one major reason why MT5 has not been as widely accepted.
  • #7
  • Sep 9, 2012 9:59am Sep 9, 2012 9:59am
Thanks. I'll go back to learning more about EA's
Argue for your limitations, and sure enough, they're yours. Richard Bach
  • #8
  • Oct 14, 2012 1:53am Oct 14, 2012 1:53am
Yes in MT5 one cann't hedge because MT5 is programmed to comply with CFTC rules and this is one of the reasons why traders will never be profitable using MT5
  • #9
  • Oct 14, 2012 4:41am Oct 14, 2012 4:41am
Quoting Hay
why traders will never be profitable using MT5
Is it a joke?
  • #10
  • Oct 14, 2012 4:56am Oct 14, 2012 4:56am
ok In that case I will never update to mt5
  • #11
  • Oct 14, 2012 4:34pm Oct 14, 2012 4:34pm
Originally Posted by Hay http://www.forexfactory.com/images/buttons/viewpost.gif
why traders will never be profitable using MT5

It is not a joke enivid you will lose nearly all your money trading with MT5, you can just open a demo with any broker to test it and compare the excecution functions in MT5 with MT4.
  • #12
  • Oct 14, 2012 5:33pm Oct 14, 2012 5:33pm
Quoting Hay
Originally Posted by Hay http://www.forexfactory.com/images/buttons/viewpost.gif
why traders will never be profitable using MT5

It is not a joke enivid you will lose nearly all your money trading with MT5, you can just open a demo with any broker to test it and compare the excecution functions in MT5 with MT4.

I think you need to back up that statement with some examples. Blindly making unsupported claims on these forums is all too common.
  • #13
  • Oct 15, 2012 4:05am Oct 15, 2012 4:05am
Quoting Hay
Originally Posted by Hay http://www.forexfactory.com/images/buttons/viewpost.gif
why traders will never be profitable using MT5

It is not a joke enivid you will lose nearly all your money trading with MT5, you can just open a demo with any broker to test it and compare the excecution functions in MT5 with MT4.
A troll? Just look here:
http://championship.mql5.com/2012/
About ~200 profitable MT5 demo accounts there.
  • #14
  • Oct 15, 2012 8:38am Oct 15, 2012 8:38am
CodeMeister

Originally Posted by Hay http://www.forexfactory.com/images/buttons/viewpost.gif
Originally Posted by Hay http://www.forexfactory.com/images/buttons/viewpost.gif
why traders will never be profitable using MT5

It is not a joke enivid you will lose nearly all your money trading with MT5, you can just open a demo with any broker to test it and compare the excecution functions in MT5 with MT4.

I think you need to back up that statement with some examples. Blindly making unsupported claims on these forums is all too common.

I think CodeMeister you will not disagrree to inform the public and the forums that MT5 was programmed to comply to CFTC rules?
  • #15
  • Oct 15, 2012 2:01pm Oct 15, 2012 2:01pm
The same results you are going to get with a coin toss : half-half. It tells nothing about MT5.

Take a look at how many of those should have been margin called already in the first week and they did not. Adjusted rules for "competition" (read "advertisement")? I sure would like to have a broker that does not have a margin call. So far they did not show anything that would convince anybody serious to migrate. I wonder why ...

Quoting enivid
A troll? Just look here:
http://championship.mql5.com/2012/
About ~200 profitable MT5 demo accounts there.
  • #16
  • Oct 15, 2012 2:16pm Oct 15, 2012 2:16pm
So you cannot have hedged positions in MT5? What about FIFO?
  • #17
  • Oct 15, 2012 5:41pm Oct 15, 2012 5:41pm
Quoting Hay
Originally Posted by Hay http://www.forexfactory.com/images/buttons/viewpost.gif
why traders will never be profitable using MT5

It is not a joke enivid you will lose nearly all your money trading with MT5, you can just open a demo with any broker to test it and compare the excecution functions in MT5 with MT4.
I think it has something to do with that fact that only a few russian bucketshops are offering MT5 at the moment.
  • #18
  • Oct 15, 2012 10:56pm Oct 15, 2012 10:56pm
Quoting Hay
I think CodeMeister you will not disagrree to inform the public and the forums that MT5 was programmed to comply to CFTC rules?
I was not aware that CFTC rules made all traders lose money. Its had no effect on me and many others. Its harder to make money, but no easier to lose. Maybe some traders couldn't make the adjustment?
  • #19
  • Oct 16, 2012 5:42am Oct 16, 2012 5:42am
Quoting CodeMeister
I was not aware that CFTC rules made all traders lose money. Its had no effect on me and many others. Its harder to make money, but no easier to lose. Maybe some traders couldn't make the adjustment?

You will do the public and the forums a better service if you can explain MT5 excecution functions to them.
  • #20
  • Oct 16, 2012 5:04pm Oct 16, 2012 5:04pm
The public don't want to know about MT5. They only seem interested in Bieber, Lohan and the royals.
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