Hello. It seems like there is just so much information for a newbie like myself to digest on this road to becoming a successful trader. I just need a little guidance. I decided to work the cowaubunga system since i seem to be able to comprehend the system. I recently opened a Oanda account and also downloaded the MT4 platform to view charts. From reading info on this site, i see many people use the MT4 platform which is why i chose this. Now, my question is, how do i use Oanda and MT4 together. DO i just open two windows and go back in forth while i view the charts and then go on Oanda and complete my transaction. Do they work together well or am i missing something here. Please help. Thanks
An MT4 demo and oanda are going to have different price feeds. Mostly market makers use MT4, and oanda is market maker too. So you would be seeing the price feeds of two seperate markets, even though you may be watching the same pair.
While the prices may form similar patterns the prices will be off. I traded demo like that for a while. Trading with oanda and charting with MT4 because oandas chart’s leave a lot to be desired.
Some people trade that way though, would be good for quick scalps though. Yes, you would have to open seperate windows. What I did was just resize everything in oando so I just saw my account with oanda and the pair I was looking at until it only fit a quarter of the screen. The rest of the screen was MT4 demo charts.
just to add a bit to phoenix’s comments, you will find (usually anyway) that “correct” price will vary by a pip here or there between the two charts. You simply have to note WHAT the difference is as it will probably remain constant.
pay particular attention to the differences between long and short trades, as you may find the long side to be off by 2 pips and the short side only 1.
u will get used to it quickly, but also realize it will differ between different pairs also.
wont really matter on even short term position trades although could be a slight problem with scalps — i have some super dooper charts and feeds and it often gets AHEAD of my broker (or my broker intentionally lags them to try to fake me) so i have to be very careful not to exit when the charts say so, without checking to see if my broker has reached that point yet, or i could easily exit with no or negative profit !
once used to it though, its no problem really !
enjoy and trade well
mp
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