what's so good about metatrader 4?

[walkonwallstreet]

i have seen a lot of traders are using metatrader 4. right now im using fxcm. can anyone tell me why metatrader 4 is better? fxcm offers metatrader too

[fxtrader1979]

i have seen a lot of traders are using metatrader 4. right now im using fxcm. can anyone tell me why metatrader 4 is better? fxcm offers metatrader too

What most people like about the metatrader platform is that it allows you to develop, backtest, and automatically trade your trading strategy. You can also do things such as set trade alerts so you get emails when certain levels are hit in the market etc. I think it really depends on what you are looking to do whether its a better platform or not.

-FXTrader1979

[tymen1]

What most people like about the metatrader platform is that it allows you to develop, backtest, and automatically trade your trading strategy

.

I can see the point here that fxtrader1979 is trying to make.

But as for the quality of the charting package.......well I trade the GFT platform and compared to that MT4 is yesterday's charting as far as I am concerned.

[tonymand]

.

I can see the point here that fxtrader1979 is trying to make.

But as for the quality of the charting package.......well I trade the GFT platform and compared to that MT4 is yesterday's charting as far as I am concerned.

What are the advantages that you have found with GFT Tymen?

[fxtrader1979]

.

I can see the point here that fxtrader1979 is trying to make.

But as for the quality of the charting package.......well I trade the GFT platform and compared to that MT4 is yesterday's charting as far as I am concerned.

I agree here that people like GFT's chart's as well however you don't see forums with thousands of members like strategy builder or the metatrader section of forex factory which have thousands of posts for GFT Charts so I think most people would agree that at least for now metatrader is the more popular package. This is another advantage of the package in that there are lots of places you can go with lots of people who will share and discuss new strategies etc.

Another good thing about metatrader is that it is a third party platform which is sold to brokers so there are a bunch if you like the system but don't like the broker there are other options so you are not stuck. Just my two cents.

-FXTrader1979

[daydreamer65]

i have seen a lot of traders are using metatrader 4. right now im using fxcm. can anyone tell me why metatrader 4 is better? fxcm offers metatrader too

A major consideration with MT4 is it's flexibility.

It is very popular, so therefore more EAs are available,
it is discussed more than any other platform, a lot of
different brokers use it.

But which ever platform you use to trade the forex market,
the biggest consideration is to get to know that platform & find
a winning system.

[tymen1]

Yes, I think daydreamer65 hit the nail on the head when he says that a winning system is more important than what package you use.

I appreciate that many people like MT4 - the fact that is runs across several brokers is great.

To answer Tonymand :

Since I trade candles, I can set them out anyway I like with the GFT program. I can put the candles right next to each other with no spaces - this is great. The sizes of the candles can be altered with borders added to them. Many charts can be seen on the screen at once. Then with the click of a mouse you can see another screen full of charts. All charts maximise and minimise with one mouse click

You can load umpteen versions of the one same indicator - and each one of those in a different colour if you like. The Guppy multiple moving average is one such case in point.

The method of loading chart details by using a window within a window is, to me, the most logical way of loading complex data. GFT had done this in a marvelous way - it is so user friendly.

Your equity, cash, margin, profit/loss and immediate floating profit loss are all displayed and computed instantly as the price action varies. This is done in your base currency or any other currency you like. As such, you can see your money being made - I like it. A pip calculator is standard.

The number of time frame is enormous. This is good for me looking for candle patterns. You can go 1,2,3,5,10,15,20,25,30,35,40,45,50,55 minutes, 1,2,3,4 hour, daily etc etc. What other program offers these time frames AND lets you see them all at once on one screen - and set out exactly the way you like, each with it own indicators.

You can edit and click little icons at the bottom (as many as you like), and these will take you to any chart set or anything else you have set up in the program.

To sum up, the GFT program will do asolutely anything you like - and does it in a user friendly way. So simple is the program that I learnt by myself without input from anywhere else.

Hope this helps.

[tonymand]

Thanks Tymen

[aquaart]

Yes, I think daydreamer65 hit the nail on the head when he says that a winning system is more important than what package you use.

I appreciate that many people like MT4 - the fact that is runs across several brokers is great.

To answer Tonymand :

Since I trade candles, I can set them out anyway I like with the GFT program. I can put the candles right next to each other with no spaces - this is great. The sizes of the candles can be altered with borders added to them. Many charts can be seen on the screen at once. Then with the click of a mouse you can see another screen full of charts. All charts maximise and minimise with one mouse click

You can load umpteen versions of the one same indicator - and each one of those in a different colour if you like. The Guppy multiple moving average is one such case in point.

The method of loading chart details by using a window within a window is, to me, the most logical way of loading complex data. GFT had done this in a marvelous way - it is so user friendly.

Your equity, cash, margin, profit/loss and immediate floating profit loss are all displayed and computed instantly as the price action varies. This is done in your base currency or any other currency you like. As such, you can see your money being made - I like it. A pip calculator is standard.

The number of time frame is enormous. This is good for me looking for candle patterns. You can go 1,2,3,5,10,15,20,25,30,35,40,45,50,55 minutes, 1,2,3,4 hour, daily etc etc. What other program offers these time frames AND lets you see them all at once on one screen - and set out exactly the way you like, each with it own indicators.

You can edit and click little icons at the bottom (as many as you like), and these will take you to any chart set or anything else you have set up in the program.

To sum up, the GFT program will do asolutely anything you like - and does it in a user friendly way. So simple is the program that I learnt by myself without input from anywhere else.

Hope this helps.

I agree that GFT platform is a fantastic platform as I used it once upon a time. Also I heard that GFT are re-programming their platform so that MT4 EAs can be accepted, which is also very good.

However, at the moment MT4 allows you to switch away from bad brokers and therefore enables choice as you do not have to learn a new platform.
While with GFT if they stuff you around you can't leave without having to re-learn your instruments.

Also with the people base of MT4 EA advancement is much more likely and and there is greater potential for the development of more precise indicators. Once GFT can accept the MT4 indicators and / or EAs, the GFT platform would seriously kick MT4's butt.

[sam111]

I agree what aquaart has explained about Meta 4 trader.