Please my question is this?what is the difference between mt4 and Mt5 app?secondly i tried to download the mt5 app from alpari from my play store but it was the same app that showed as the app for fxcm.
I want to practice with two different app from different brokers.so how do i download it please?
if you want to practice with 2 Different apps
Why don’t you practice with MT-4 and C-Trader?
MT-4 vs MT-5 Not much difference other than compatibility and Stability, i doubt there are many new features in MT-5
tried it a while back… didn’t see the point
went back to MT-4
in my opinion, More support, More Stable
Now. MT-4 vs C-Trader
there are Pros and cons with both
but it’s defnitely a different feel with C-Trader
give it a go see what you think
Thanks a lot.I will get it.but I want more clarification please.mt4,mt5 and c-trader,are they all demo apps or do different brokers apps?as in is mt4 for say fxcm the same as mt4 for alpari?
Also which of the C traders will you advice i try?I checked my play store and saw several like fxpro c trader, FIBO c trader,IC markets c trader,etc
Oh… i see
YOU DON’T UNDERSTAND WHAT THEY ARE
Ok
lets’ start again
MT Stands for META TRADER
META TRADER is a Trading Platform
Just like Skype is a Chat Platform
Just Like Facebook is a Social Interaction Platform
Meta Trade is a SOFTWARE PLATFORM that Unlike WEB TRADING PLATFORM (Which means you have to go to the site and trade on the site) Meta Trade allows you to download THAT PLATFORM to your computer
THE PLATFORM comes in two versions
the 2 Current Versions are
Version 4 (MT-4)
and
Version 5 (MT-5) this is still being tested and has a few bugs
MT-4 is considered the more stable and popular version to use
so do you understand that so far ?
now. Just like Meta Trader is a SOFTWARE TRADING PLATFORM
C-Trader is exactly the same thing
Except it looks different
sort of like saying
if i was to use Word 2003 and Word 2013
they are both WORD PROCESSING PROGRAMS
They just Look different and some have more features or different features to the other
simple
NOW…
we have the RAW PLATFORM
this means
That the platform is in it’s RAW Format,
it has not been programmed up and configured
THE RAW VERSION OF MT-4… TO YOU… is useless
you see, the way the Trading platform works is
you have the platform
and when you sign up to a broker account TO TRADE
you have to CONNECT TO A SERVER to get your DATA FEED from the broker
The Brokers have many servers and they will assign you a server
they will tell you how to configure this
usually you enter
AN ACCOUNT NUMBER
AND SELECT A SERVER NAME
now… YOU WILL DOWNLOAD MT-4 or C-TRADER (whichever you choose) FROM YOUR BROKER
the version that comes from your broker IS CONFIGURED TO WORK ONLY WITH THEIR SERVERS
the version they give is THE RAW VERSION + They edit the configuration files so that the PLATFORM KNOWS HOW TO CONTACT THEIR SERVERS and access your account
so to answer your question
MT-4 downloaded from FXCM will be configured to access only your account on FXCM
and
MT-4 downloaded from ALPARI will be configured to access only your account on alpari
now. as for phones
you can download the MT-4 App on your phone
and SAME THING
you select your broker
you select your account and server
and it accesses your broker account
META TRADER and C-TRADER are just SOFTWARE PLATFORMS that interface with your broker to give you the data feed that is required to give you up to date prices
THIS , OF COURSE DEPENDS ON A STABLE INTERNET CONNECTION
do you understand it now
All the C-Traders are the same
All the MT-4 Traders are the same
when you open a C-Trader platform from one broker IT WILL BE IDENTICAL in appearance and functionality when compared to another broker
MT-4 will be identical to an MT-4 from another broker, but it will be different to C-Trader in appearance and functionality
as to which one you download from APP STORE
ASK YOUR BROKER WHICH APP THEY SUPPORT
it will likely be either
Meta trader 4 App
or
C- Trader App
or C- Trader [BROKERS NAME]
or
Meta Trader [BROKERS NAME]
something like that
but ask them
MT4 and MT5 are almost similar, the difference is in pending orders available and in the lock positions performance
Yeah i agree they are very similar
I’ve played with it a few years back,
i settled on MT-4 as everyone does
Never saw a reason to upgrade
Why…
if it’s not broke don’t fix it
i tried C-Trade, i liked the Detachable windows,
but then again, it took too long to figure out how to play a damn trade
also i can do the same detach thing Using NETDANIA NETSTATION
that thing is bloody awesome… let me tell you
SO YEAH
C-Trade is eye candy in my opinion
each to his own
i use MT-4
don’t have issues with it
it’s nice and simple and not graphics intensive (not that i have a piss weak PC) but i’m just saying, not everyone has a beefy system
i’ve found you can run MT-4 on a Pentium 4 2.6GHz system that has 512MB Ram and a 40GB Hard drive
NOT A PROBLEM
and it helps if you have Linux loaded
but XP will do the job
MT-4 is not very resource hungry,
it works well for me
i think in fairness to both platforms
or… all 3
MT-4 MT-5 and C-Trader
he should download all 3 and give them a test drive on demo
I see, Martin already described with the details! By the way, trading platform (like MT4, MT5 & c-trader) has both options demo & live.
Thanks a lot for all the answers.I understand it better now and will follow the advice.thanks a lot.
You’re Welcome, let me know if you have any other questions
One more question please but it’s with regards to pivot point.in the lesson session,it is said thar to calculate pivot point,the last trad8ng session’s high,low,open and close and it was alsosaid that most forex traders use the New York closing session of the previous day.
My question is this:if say i want to trade on Say Tuesday using the new york session time of 12pm to 9pm,is it the New York close price of Monday I will still have to consider or that of the session that closed on tuesday before the New session opened?
you’re welcome. Good luck in trading!
Before we start talking about Times
you need to specify 12pm - 9pm WHAT TIME
Server time
or
Your Local Time ?
based on your question, and what i think you’re trying to ask.
i believe, yes you are looking for the close on Monday
but in order to clearly understand your question, i need to know what timezones you are going off
The time zone I meant was new York session of 12pm to 9pm GMT
Ok,
so here is GMT (London) forex Hours
Now,
My apolgies but your first question did not seem to be a question[quote=“Lexzykool317, post:14, topic:124235”]
,it is said thar to calculate pivot point,the last trad8ng session’s high,low,open and close
[/quote]
so i was unable to answer this because i can’t see the question.
Next Question was…
Can you clarify the question
because
- if you are trading the NEW YORK SESSION in this TimeZone GMT London
the session runs from 1200hrs - 2100hrs (12pm - 9pm) as you stated
ITS’ THE SAME DAY
it doesn’t become the next day until the Tokyo and Sydney Session
I’m not really clear on what you are trying to find out
is this graph helping anything at all
Hi i used the GTM for both sessions.with that,New York closes at 9pm GMT.it’s convenient for me cos my local time is Behind the GMT with 1hr
So with this,if New York closes by 9pm GMT on Say Tuesday and I want to start trade on Monday with the London session which begins at 7am GMT,does that mean I have to consider the open,high,close and low of New York session on Tuesday?
oh…
well i would say YES because when talking about pivot points you are considering pivot points on THE CHART right ?
and the Chart runs on server time, irrespective of your local time
so yes you may need to consider it