Can I be logged into a oanda mt4 account and place trades on the java platform at the same time? Reason for asking is the java platform allows custom lot sizes but I need mt4 for trade analysis. The goal here is to keep the lot sizes at 1:1 each trade for efficient compounding.
This is what I do, I use Oanda MT4 for analysis, and trade on Java Platform,
So, yes, you can do that,
I also use 10 second chart from Oanda Jave for entry, make sure you set the Ask/Bid lines on your chart, dont get caught in the slippage,
You can always analyze from wherever you choose and then place trades somewhere else. Nothing can prevent you from using one location to watch and another to actually trade from. There are also many people who use different references to analyze there trades from actually making trades.
I guess that was a stupid question. Brain freeze or something thanks for being patient with me everyone.
You have to be careful doing what you describe on the same account. The java platform will allow you to enter a trade as small as 1 unit, the mt4 works with lots. The smallest trade size on Oanda mt4 is 0.01 or 1000 units. The problem happens when you are trying to manage a trade on mt4 that is not in a “lot size” Or you close part of a “lot size” trade on the java platform and try to see what you did on mt4. None of these problems affect the trade but it may make mt4 display your trade or your account history funny. If you want to use mt4 just for charting I would suggest using a demo from a broker that has daily candles that start and end at New York close, and just trade on the Oanda java platform.
Thanks for the words of caution shr1k. I decided to chart on oanda’s demo mt4 while trading on the java platform. Statistics should be the same accept mt4’s bid price candle sticks. That or create a sub live account for mt4 charts.
I would create a separate account. Unless you’re scalping, the spread difference should not be very different.