Just officially made the transfer to a MT4 account for all my trading, atleast most of it now.
I was told by a forex.com rep that in order to show 5 digits in MT4, I have to have atleast a $10,000 account, is this true? or is there a way to set it to show all 5 digits? {Example, aud/usd .9880 vs .98805}.
Also, are times always “gmt” or can I adjust MT4 to show my time zone?
and is there any way to move the charts out of the platform, besides resizing the whole MT4?
That’s three questions…
I’m using IBFX mini account and started with $1k deposit…I have 5 digits and so does my MF Global live mini account …I think it depends on the broker but not totally sure.
Unfortunately you’re stuck with GMT.
You can resize however many individual charts as you want to look at side by side at the same time within MT4 frame… if that’s what you mean, or if not, that’s an option if you didn’t already know that. Otherwise no you can’t detach charts and float them on your screen like some platforms allow.
Hello,
You are talking about a thing called ‘fractional pip pricing’. This is broker dependant and has nothing to do with MT4 itself i.e. if the broker offers fractional pip pricing then that’s what you’ll see in MT4 i.e. five digits (decimals). If not: you’ll only see four digits (decimals). Let me say THIS though: I know NOTHING about forex.com. Could it be that they have two different type of account offerings i.e. on the smaller accounts they have one MT4 setup that only shows four digits (decimals) and on the bigger accounts (above $10 000 capital) they have another MT4 setup that shows five digits (decimals)??? You know: maybe the difference between ‘mini’ or ‘micro’ and ‘standard’ accounts??? Not sure but it’s a possibility.
Sweet Pip: I WISH we were all ‘stuck’ with GMT!!! LOL!!! That would solve the problem of having different daily closing prices across the globe and everybody would be looking at the same charts!!! LOL!!! Nope: this is also broker dependant UNFORTUANATELY!!! You need to check with your broker.
I’m not sure exactly what it is that you’re trying to do. I have multiple monitor setups and I can quite easily have MT4 (the main application) open on one monitor and simply drag charts to the other monitors. However: I’ve a feeling that this is a function of the multiple monitor setup and not of MT4 itself. In other words: you cannot ‘detach’ the charts and ‘float’ them as Sweet Pip have already noted. NOT TO MY KNOWLEDGE ANYWAY at this time!!!
Regards,
Dale.
Hey Dale, yes I just meant one is stuck with whatever time is shown… meaning MT4 can’t be changed to reflect another…in his case it’s GMT. Good to clarify 
Hello,
Ahhh… I see.
But I’ll tell you: all these different timezones and therefore chart differences absolutely ‘grate’ me!!! I was just reading some posts on another forum and the ‘same old same old’ story i.e. same trading systems producing VASTLY different results due only to differences in timezones and therefore differences in daily closing prices (bars). I’m honestly of the belief that the only timezone that ‘counts’ is New York’s and unfortunately there is only one broker that I know of that closes their daily bars ‘smack back’ on New York time and I wouldn’t give them a single cent of YOUR money let alone mine!!! LOL!!! On their charts the daily pivots act like ‘impenetrable walls’ i.e. prices stop RIGHT AT the pivots (and then of course decide which way they’re going from there) but not so on most other charts (not that I’ve found anyway). Even ‘good old RSI’ is ‘spot on’ on their charts. That has to mean SOMETHING. Of course: if you’re trading instruments that are traded on-exchange then you don’t have this problem (which is why I ‘bang on’ about this all of the time). But hey: that’s just me but I honestly do believe that this is just yet another one of those ‘little things’ that serve to ‘mess’ with (new???) traders.
Regards,
Dale.
Hey cubanpip2010,
May I ask: does that ‘indicator’ actually change the opening and closing prices of the individual bars (based on the timezone setting) i.e. does it recalculate and redisplay the individual bars or does it simply change the time display on the chart axis???
Regards,
Dale.
Edit:
Never mind. From what I gather (after looking at the other thread) it’s just displaying the various times i.e. it’s not ‘adjusting’ the data or anything like that. The reason it’s useful is because (according to the other thread) the highs and lows on the HOURLY charts are being looked at but it’s of no help with daily bars.
Actually: if anybody has ever found an ‘indicator’ that will allow you to ‘adjust’ the timezone in MT4 to the extent where it will actually recalculate and redisplay the daily bars based on the underlying tick data and selected timezone then let me know i.e. I’d be real keen to see it (I’ve spent many hours in the past looking for something like this but have not found it as yet).
Hello,
Thanks for going to all the trouble of investigating and posting those charts.
Unfortuanately: I have to differ with you on this though.
You’re looking at PRICE at one single point in time (yesterday). I’ve attached three charts: all MT4 charts (and I’m of course therefore making the assumption that the data feed is therefore the same but then again WHO KNOWS)!!! Take a GOOD HARD look at the differences over the period shown i.e. not necessarily just price but candlestick sizes (bodies and wicks), inside and outside bars, chart patterns, that type of stuff. Some of the differences are REAL obvious. I suppose it depends on how you trade of course. All I know is that RSI (for example) gives different readings across all three charts e.g. RSI may cross from above 70 to below 70 a day later on a particular chart. This makes a difference with one of my trading systems and a BIG difference at that i.e. it could make the difference between a profitable trade and a loser (by getting ‘in’ a day late and also ‘out’ a day late too). My other (main) trading system suffers from the same issue as the calculations are based on the OHLC and are heavily weighted in favour of the close. Remember that most indicators use days worth of data not just single points of reference so there is a compounding effect.
In addition (as I mentioned in a previous post): take an EA (any EA of your choice) and run it on the same instrument with the only (theoretical) difference being the timezone of the broker. You could be astounded by the difference in performance (not that I advocate the use of nor would I ever use an EA but it’s ‘food for thought’).
(By the way: HOW do you get your images to appear in the body of your message)???
Regards,
Dale.
Edit: by the way I see you live in one of my favourite places in the world (Russia???). I’m coming to visit you one day!!! LOL!!!
Oh man: that’s nice (Sweet Pip’s method of displaying the images in the post itself). As TalonD said on that thread: you learn something new every day!!! LOL!!!
NOT that I AGREE with doing it though i.e. if the images are simply attached then the user has the choice of whether to look at them or not whereas if they’re part of the post itself you have no choice (and some people post these HUGE images which I find annoying but that’s just me of course)!!! LOL!!!
Thanks for that.
Regards,
Dale.
Babypips has fixed it so that those “HUGE” images are re-sized to fit within the post frame…and for some if you want to see them full-sized, you can click on them to display them separately.
Come on now, You should now better …
The ONLY difference between a criminal act and a regular act of any nature, is that the criminal act was caught.
Not saying they are the best, and I want to switch, but I don’t know what broker{s} to trust.
I’m in the U.S. and not quite sure where to go.
Good morning (don’t you guys ever sleep)???
Come on now, You should now better …
The ONLY difference between a criminal act and a regular act of any nature, is that the criminal act was caught.
Good one!!! LOL!!! It gave me a good ‘chuckle’ this morning.
I wish I could help you out but I cannot (Deltastock no longer accepts US Clients FOR NOW anyway). But for what it’s worth: why don’t you take a look at IBFX (if you’re alright with the CFTC rules) or IBFX (Australia) if you still need / want higher leverage???
Regards,
Dale.
It’s only true, plenty of unmarked criminals acts. & I am off until January so I am not sleeping at all during the week {trying to learn forex for the most part all day everyday}.
I am new to this, so the CFTC rules, even though I understand that it sucks, are my standard so it doesn’t really bother me.
Let me ask this, is the new leverage of 50:1 the ONLY bad part of the new regulations, as far as severity and non-broker rules?
& I have enjoyed it so far, I just didn’t know of there was a well known broker that a majority likes, I seen plenty of ‘every broker is liked by someone and hated by someone’ but when it comes to terrible brokers, majority rules.
I have a mini account & a regular account, I have been doing decent but I am just wondering, once I put my pips from $1-$5 upto $10-$20 for now, will it make a difference as far as … well … anything?
Something about forex.com customer support just isn’t right, it seems that something is ‘off’ but I don’t know what it is about the company {gain capital}.
Good morning,
Let me tell you this in my very personal but honest opinion:
I really think that people have made too much of a big deal about this CFTC thing. To be honest (and all conspiracy theories aside): I believe it’s a GOOD thing. Really. It’s an attempt to start regulating an otherwise unregulated market and I believe it should be welcomed. So what: you need more capital to be able to trade. Honestly: if you’re THAT ‘tight’ on capital that you need 200:1 or 500:1 leverage to be able to trade then SHOULD YOU BE TRADING AT ALL??? Just look at what you’re getting in return for a reduction in allowable leverage e.g. disclosure requirements!!!
So: in your case that ‘leaves the door open’ to many regulated brokers within the USA and that’s a good thing in my opinion. The EU regulations are every bit at strict (if not MORE so) but if you’re in the USA then what’s the point I ask you??? Hell: I’d LOVE to be able to go and ‘bang on my brokers front door’ if I had an issue with them!!! LOL!!!
As far as putting your pip value ‘up’ is concerned: it’s all down to risk managment (that ‘thing’ of only risking a certain small percentage of your capital on any one single trade at a time). There’s quite an ‘in depth’ discussion going on at this very moment on a thread entitled ‘Lets learn leverage!’ on this very subject. It does not matter what your $ value per pip movement is just as long as you’re managing risk. That’s it.
Regards,
Dale.
Yeah, You are right, nothing like using the taxpayers dollar for a civil lawsuit!
But as far as brokers, I just want one that you know … isn’t going to ‘steal’ my 10 million I am going to make next month {merry xmas to me}.
But as far as the $pip value question, I just meant to also ask.
At what point does it make a difference in the market … as far as which way it goes … $1, $100, $1000, $100,00, etc.?
Just curious … and of all brokers, included regulated u.s., not asking which are the best, but which have the best reputations?
Hello again,
I’m not quite sure what you’re asking about your $ value per pip movement. If you’re asking how much it will take for YOU to move the market: don’t worry about it (unless you have that kind of money in which case a ‘loan’ to me of around $500 000 would be nice and would be nothing to you)!!! LOL!!! As I said: I’m not sure what you’re asking.
As far as brokers are concerned:
You could take a look at the broker reviews at Free Forex Trading Community With Forex Signals And Broker Reviews. Unfortuanately: you have to be able to ‘sift out’ some of the ‘BS’ (you know: the trader got margin called because he had $5 in his account and was trading 60 pairs at the same time and now it’s the brokers fault that he’s ‘wiped out’). But ‘after all said and done’: the site is really pretty good at this type of thing and it’s the most popular for this type of thing so far as I know.
Regards,
Dale.
No, lol, I meant how much does it take to move the market in total? I wish I could afford 1/2 mil pips.
I meant, down to the broker, or anything… is there a difference {besides risk} of making more valuable pips?
I have literally, been sitting with my laptop or my 3 monitors at my desktop for 10-18 hours a day, sunday night through Friday, I have pulled in about 15-100 pips a day as of doing it ‘hardcore’ for the past couple weeks.
But the problem, well not really a problem, but the situation is that each pip is valued at 1-5 usd & then I started a micro-account last week & am trading .10-.50 lots, so in all, still doing decent, but I am ready to bring pip value up about 10-20% be my ‘return-on-investment/ROI’ is officially at about 105%, so I am working with nothing but my profit from past couple months. So I am going to pull out my original cash so that way, I am not ‘losing’ anything I put into it.
I can reinvest 100% because the Wife & I have money saved to last a while & she works full time so we are not dependent at all off this account.
I was just wondering {besides risk management}, is there anything unforseen with higher value pips that I have just overlooked or am unaware of.
& when I say I have been trading all day, I have been trading ‘highs/lows’ for the most part in ‘AUD/USD’ ‘GBD/USD’ “EUR/USD’ 'USD/CAD” ‘USD/JPY’ and a couple others part time, I just pay attention to the news, work around the economic calender, compare to daily/weekly highs, and just trade. it has been tedious but If I can trade in .1-5 pips for 10-20 with same results, it will be well worth it.
I THINK I understand what you’re saying / asking.
I’d so ‘no’. Not on your lot sizes. I would imagine (depending on your broker) that if you were trading HUMUNGOUS lot sizes you’d start to get ‘requotes’ or ‘slippage’ but right now I don’t believe it’s something you have to concern yourself with. Of course (and I’m sure you’ve read this numerous times before): there is the ‘psychological’ aspect of trading larger position sizes i.e. it’s easy to watch a position move into a loss at $0.01 per pip but at $100 or $1 000 per pip??? That’s ‘the test’!!! LOL!!!
But I’ll tell ya this: if you’re already managing to ‘pull’ that amount of pips then well done and as the saying goes: ‘do not fix it if it ain’t broke’!!! You seem to have gotten your ‘sh1t’ together in a short space of time (not just in your trading method but overall i.e. trading now only with profits and not ‘needing’ the money). Well done.
Regards,
Dale.
You know what, you hit the nail on the head. That is true, sometimes you know something but you need to hear it from a 3rd party to let it sink in.
The problem is I can watch this pip go to -100 pips before it reverses back up, but with 10,100 dollar pips, I will be crying & having a heart attack the days before it reverses back up or down.
I think I will give it a go with one shot next week & see if I can handle the stress yet, thanks. off to bed for my 2 hours of sleep.
Good night and good luck.
And if we (the collective) around here can help you in any way then feel free to ask!!!
Regards,
Dale.