Is it safe to give a professional my MT4 access to trade on my behalf since it’s not linked to my actual account where my funds are. Obviously apart from the fact the could blow my account
Yeah, that’s all he could do. Nowadays, tier one regulated brokers only allow withdrawals to be sent to the same account where the initial funds originated. He should have a hassle if he tried to extract your funds - unless of course the broker is not regulated. And you’ll be able to see your account balance on your charts at all times…
Cheers for your insight! Personally my pairs of choice are NZDJPY, NZDUSD, AUDUSD - not too much to handle.
My slow move into crypto’s commodities and equities is a lot more of an investing style, with long only, no leverage. God know’s why we diversify aha!
That should be fine - this is how most account management systems operate. Sometimes they only need the login to setup Maam / Paam softwares, and don’t log into your account. They won’t be able to withdraw your money, only trade with it.
Thanks for your advice
This is very interesting. From all the data you’ve looked at so far, how’s the slippage situation looking like? Is it really bad?
It depends completely on the broker! Most brokers have low amounts of slippage, with 10-20% of trades being slipped, some have less and some have far more.
Try out the Mt4 EA for yourself and see how good your broker is. It’s completely free and we’ve just launched a new portal with more tools, so it’s the perfect time
I’ve read in one or two other forum threads that tick volume is broker specific? So, basically if I use a relatively new and small broker tick data could potentially be a lot more volatile and unpredictable, as opposed to using a top broker like IC Markets?
I’m not too sure on this - I’d imagine that brokers use their liquidity provider tick volume, not the broker tick volume.
Again, not too sure.
Actually the liquidity pool was what was mentioned here. I don’t know the difference and how that affects tick volume tbh.
Here’s a scr shot of the part it’s mentioned in the thread.
Hi yes, that seems to confirm that tick volume is from the liquidity provider not the broker, so using a new broker wouldn’t make a difference.
Thanks for reverting and confirming.
Hey! Thanks for your reply.
What, if anything, do hold in your crypto bag?
Mostly Ethereum. Other than that I’ve bought a pretty large range of altcoins (around $100 per coin), and diversified. While I’m sure bitcoin is great IMO it doesn’t have the crazy 100x return potential that it once did, and some other coins may still have that in them.
Any plans to offer TP on MT5?
We sure do! Unfortunately this is a fair bit down the road.
Currently TradeProofer’s developers are hard at work on a number of projects to improve the user experience for our current users, which we anticipate will take a few months.
Following that, none of our developers have experience coding in MT5’s language, and from what I’m told it is quite different. We’d like to keep the work within the company, so unfortunately I think having a Mt5 EA will be a while away.
What does it mean on a chart when it’s says -138.50 (98%) in all red. Like what does the numbers mean? I know how to trade, but never knew what the numbers mean. Thanks
Hi need help with using fibonacci to trade. Can you help. S hould it be used on it’s own and if not what should one combine it with.
Ah, I was not aware of the difference. Makes sense why MT4 is still so heavily used as compared to MT5.