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For a newbie, how to start with a Demo acct and MT4?

  • #41
  • Edited 6:11pm Mar 30, 2013 5:40pm | Edited 6:11pm
Quoting Red Herring
I can understand what you are trying to say, you have some logic. But the problem is, we can not remain happy only starting with $1, after loosing it quickly, more and more $ will be invested to lose...Newbies should at least know what button is for what in the platform ( lol...).. before going live...
now that what every one should start working on .believing that even one cent differs thing .
you can practice that by keeping your wallet with 99 cent only and try buying a one dollar value thing .
try it it is call echo training go to shops with 99 cent and try to buy a one dollar item you can do that through internet also .you need to value things so much you don't lose .
off course to know the platform more it is better to use demo at start so i was talking about real trading but to get your self well to platforms you can use demo and it is more preferable off course .
gaining money and preserving it is a skill no one relay can master unless he train to do it .if you preserve 10 $ per day with interest you could end with more than 100kilos after 20 years when you will need money for real .
so i advice all to train on that skills of gaining and preserving money you will find books about it download it from internet .
i know many people that made fortune just having skills like that one of them is SOME ONE CLOSE TO ME he said to me a thing i never believed him he said food is a fortune every time you want to buy it stop and put the money back in your wallet just eat bread with milk and that he have done for a long time he is a million er now real one .
if you calculate it we usually spend 10 - 30 $ per day on food that is for medium economic people .
if you can end keeping 20$ per day you will end with 600$ per month so 7200$ per year let say that you have some rest days and enjoy your time per month for two to four times so you can gain 5000$ per year
for 20 years it is 100kilos giving that you only reserve 20$ which it could be more .
the bottom here that if you value every cent you can even trade a billion dollar account because you put value
in it and if you don't value a cent you will live all your life undervalued by it and it you will be wined by it
all have a nice day
focus while relaxed to see better
  • #42
  • Apr 1, 2013 8:30am Apr 1, 2013 8:30am
SOME ONE CLOSE TO ME he said to me a thing i never believed him he said food is a fortune every time you want to buy it stop and put the money back in your wallet just eat bread with milk and that he have done for a long time he is a million er now real one . if you calculate it we usually spend 10 - 30 $ per day on food that is for medium economic people . if you can end keeping 20$ per day you will end with 600$ per month so 7200$ per year let say that you have some rest days and enjoy your time per month for two to four times so you can gain 5000$ per year for 20 years it is 100kilos giving that you only reserve 20$ which it could be more . the bottom here that if you value every cent you can even trade a billion dollar account because you put value in it and if you don't value a cent you will live all your life undervalued by it and it you will be wined by it all have a nice day [/quote]


Got your point, I think the new trader will learn quickly spending real Dollars as it will have value to him just after knowing a bit about the platform and how it works on demo! And may be identifying a way he should trade since every individual have their own thinking/observation/strategy towards market behavior...
  • #43
  • Apr 4, 2013 6:35pm Apr 4, 2013 6:35pm
Red herring.. Red Herring, I heard that term years ago from the stock market, it means like a smoke screen, Who are you?

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  • #44
  • Apr 4, 2013 11:20pm Apr 4, 2013 11:20pm
Quoting jgray110
Red herring.. Red Herring, I heard that term years ago from the stock market, it means like a smoke screen, Who are you? http://www.youtube.com/watch?v=YWyCCJ6B2WE http://www.youtube.com/watch?v=r5kmCgVhADY

lol...I am a prospectus...without a price or price band...
  • #45
  • Apr 4, 2013 11:23pm Apr 4, 2013 11:23pm
After demo and MT4, now the term Fibonachi comes for the newbies...how to start with it? Coming soon...
  • #46
  • Apr 5, 2013 2:10am Apr 5, 2013 2:10am
Quoting orabi
don't waste your time with demo open a live account with oanda or agea .any broker that offer a one unit trade size so you will trade as little as one eur or one dollar or one pound and enjoy learning the right way . start with a blank chart and draw lines where price have stayed for a longer time they call it support and resistance read in the same time john murphy book .place a trade depending in your self echo it is important to start growing your self skills and echo inside you to see things more clear and wise gain confidence in your self and...
Best time spent in my opinion would be back testing your system, over a long period (some years) of time without actually trading at all....

Also and I hate to repeat myself endlessly, but an understanding of the "gods" of standard deviation is really important, it's easy to be fooled into thinking you have a system with an edge because you've looked at way to few trades and what you are really seeing in that period are natural deviations for the mean, which is 50/50 minus your spread....
Stop or target...
  • #47
  • Apr 22, 2013 8:35am Apr 22, 2013 8:35am
Quoting FerruFx
{quote} Well said

I am new member here and is in literate in system- meaning still confuse abt download file into metatrader. I really hope someone can help me about this. I had been download metatrader and try to practice demo account with some standard indicators. however recently reading up some threads and would like to upload into demo account.

thanks
  • #48
  • Apr 22, 2013 9:26am Apr 22, 2013 9:26am
Quoting wnnchong4870
{quote} I am new member here and is in literate in system- meaning still confuse abt download file into metatrader. I really hope someone can help me about this. I had been download metatrader and try to practice demo account with some standard indicators. however recently reading up some threads and would like to upload into demo account. thanks
When you want to download an indicator, save it in the /experts/indicators/ folder of your platform

When you want to download an EA/expert, save it in the /experts/ folder of your platform

Then restart your platform.
MT4/MT5 EAs/Indicators/Alerts coder
  • #49
  • Apr 22, 2013 11:54am Apr 22, 2013 11:54am
Quoting FerruFx
{quote} When you want to download an indicator, save it in the /experts/indicators/ folder of your platform When you want to download an EA/expert, save it in the /experts/ folder of your platform Then restart your platform.

manage to figure out. yes! thanks for the reply. now can start my testing of indicators now. thks.
  • #50
  • Apr 24, 2013 9:28am Apr 24, 2013 9:28am
Quoting FerruFx
{quote} When you want to download an indicator, save it in the /experts/indicators/ folder of your platform When you want to download an EA/expert, save it in the /experts/ folder of your platform Then restart your platform.

ferruFX

Can you explain to me what is tpl file and how do i open the file. Thks.
  • #51
  • Apr 24, 2013 9:55am Apr 24, 2013 9:55am
Quoting wnnchong4870
{quote} ferruFX Can you explain to me what is tpl file and how do i open the file. Thks.
This is a template and should be copied in the /templates/ folder of your platform.

Then open a chart and apply the template on the chart. It will set the chart with all needed.
MT4/MT5 EAs/Indicators/Alerts coder
  • #52
  • Apr 25, 2013 7:13am Apr 25, 2013 7:13am
Quoting FerruFx
{quote} This is a template and should be copied in the /templates/ folder of your platform. Then open a chart and apply the template on the chart. It will set the chart with all needed.

get it. thks
  • #53
  • Jun 18, 2013 11:25pm Jun 18, 2013 11:25pm
After I open a demo account on FXCM am I able to activate the mt4? If not then what are the steps in doing so? Or what broker, any suggestions?

I've been following another thread by 100pipsaday,where everyone is using an EA, using mt4. I would like to set this up as well but need play by play instructions.

cheers
  • #54
  • Jun 19, 2013 3:53am Jun 19, 2013 3:53am
Can somebody make a Q/A like compilation / digesе and maybe stick it as a thread with one post somewhere?
  • #55
  • Jun 19, 2013 9:02pm Jun 19, 2013 9:02pm
Quoting TechnoTr8r
After I open a demo account on FXCM am I able to activate the mt4? If not then what are the steps in doing so? Or what broker, any suggestions? I've been following another thread by 100pipsaday,where everyone is using an EA, using mt4. I would like to set this up as well but need play by play instructions. cheers
Hi TechnoTr8r,

If you have an MT4 account FXCM, then the same account login will work on the Trading Station platform. However, if you registered for a Trading Station account specifically, then the login will only work on that platform. Here's a link where you can get an MT4 demo login that will work on the Trading Station.

Jason
  • #56
  • Jun 19, 2013 9:54pm Jun 19, 2013 9:54pm
Thanx Mate,
I've now setup an FXCM MetaTrader 4 demo account.

Next step is to figure how to setup an EA.
  • #57
  • Jun 20, 2013 10:45am Jun 20, 2013 10:45am
Quoting TechnoTr8r
Thanx Mate, I've now setup an FXCM MetaTrader 4 demo account. Next step is to figure how to setup an EA.
Hi TT,

Glad you were able to get your demo up and running. Now that you're learning how to set up EAs, you can practice with the free EAs available at FXCMapps.com. Each EA on that site includes details on how to configure the various inputs. If you require further assistance with your demo, feel free to call our live customer support anytime 24 hours a day.

Jason
  • #58
  • Jun 20, 2013 5:18pm Jun 20, 2013 5:18pm
Yup! Setting up a demo account is a no-brainer, but figuring out all the bells and whistles on the platform may take a while. As to the demo vs live, it's up to the individual trader..
  • #59
  • Jun 21, 2013 1:07am Jun 21, 2013 1:07am
Quoting TechnoTr8r
Thanx Mate, I've now setup an FXCM MetaTrader 4 demo account. Next step is to figure how to setup an EA.
The next step before using EAs should be to learn how to use the MT4 platform ...
MT4/MT5 EAs/Indicators/Alerts coder
  • #60
  • Jun 21, 2013 12:29pm Jun 21, 2013 12:29pm
Quoting FerruFx
{quote} The next step before using EAs should be to learn how to use the MT4 platform ...
Good point, Ferru

TT, here's a free course on MT4 that can help you practice on your demo: http://www.informedtrades.com/trades...=009metatrader
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