I have searched high and low for a solution to this problem but I am not finding anything. Maybe someone here can help.
I was using dealbook 360 until my trial expired. I am not about to open up an account and deposit real money just so I can keep demo trading.
So I switched to the Interbank FX demo version of mt4. The way the candles are being drawn makes it much more difficult to spot candlestick patterns. From the close of one session to the open of the next there is almost always a different price (most often 2+ pips). I never noticed this with the dealbook 360 software or the FXCM software. Also, when the close of one candle and open of the next are within 1 pip, more often that not it appears that there is a huge pip difference between the two on the chart. I have been unable to fix this issue messing with scaling and zoom.
I just had an engulfing pattern indicating a bearish reversal (meaning price action peaked and is coming back down) with a 1 pip difference between the close of the first candle and the open of the second. On the chart the placement of the 2nd candle actually makes it appear that the price action continued to rise (even though the coloring indicates the price actually fell).
Needless to same I am pretty frustrated. Does anyone have any ideas?
A. Closes at 0.7932
B. Opens at 0.7931, closes at 0.7930
C. Opens at 0.7929
Why the 1 pip difference? Do all software packages do this but the other compensate for it visually, while MT4 does not? I cannot find a single instance in 30 plus charts of pairs at different time frames where there is not at least a 1 pip difference between the close of one candle and the open of another, and often times it is more than 1 pip, up to 6 pips.
Also interestingly, a 1 pip difference on this chart is visually pretty small, yet on another pair a 1 pip difference looks like 40 pips. It’s confusing the heck out of me
I have the solution for you.
This problem has occurred to several traders using GFT.
As you know, I use Dealbook.
Now google “Kinetic Securities” in Sydney, Australia.
You still get to keep your money in Morgan Chase bank in America. (or Australia)
Kinetic Securities is a major stockbroker in Australia and they are an introducing broker for GFT.
[U]The difference is that they give you the demo platform indefinitely[/U]. This is given to you regardless of whether or not you trade live.
They, of course, hope that sooner or later, you will open a live account.
Their website is one of the cleanest and uncluttered on the web.
I use these people.
Tell Jay Pace that Tymen sent you and that you would like to open an account.
Service is very fast.
I am sure he will be happy to help you.
This is not unusual in MT4. Usually when price moves fast enough, it is too fast for MT4 brokers, that’s why the “jump”. There’s nothing you can do to “fix” it since it is due MT4 data feed plug-in in broker’s server.
