Hello everyone, new member here so I apologize beforehand for any mistake I made. I recently ventured into forex trading and decided to try MT4. Anyone here can guide me towards how to properly use it? Would be a great help. I once again appologize if I made my post in a wrong group.
Please dont apologise we were all beginners at one stage. The best thing to do is download it from your broker website, Then you need to add indicators or whatever your strategy calls for. Youtube is an amazing source of wealth for this and you can have step by step guides to watch at your own time
1 Like
Can’t help with MT4 but Ive made a beginners guide to algo trading using ctrader if you’re interested.
Surely we can help you out with, you can login to MT4 platform by demo account credentials and play around to check the conditions.
I used this youtube tutorial. Its about an hour but I was up and running after watching it. I went from Trading Station to MT4.
Thank you everyone for your replies. I sure will play around the software more and try and learn more about it. Moreover I also am trying my hands on algo trading with stocks and have got somewhat satisfactory results with my backtests. I will papertrade more and make sure my strategies work perfectly before going live.
Have you downloaded MT4 onto your system? If not, then that is the first thing you need to do. Next, open a demo account with a broker that offers trading on MT4. Make sure it is regulated. My demo account experience was with XTB and Fxview but you can choose from many others like swissquote, fxtm, etc. Try out different trading strategies on the demo account and see which one goes more with your style, and gives maximum profits. Once you gain enough confidence, create a live trading account with a broker that charges low commissions and offers low spreads (wide spreads are another way brokers make money from traders) and start trading. Use only a small amount for trading at first. And remember, that your demo account profits are not going to be reflected in the live account. So go slow, and stay consistent.
In case, you re still playing around with the platform, here are a few threads that you will find useful