Which is better meta trader 4 or 5, what is the difference, why people still suggest to use mt4.
what does thr below statement mean??
“
But you cannot add custom indicators and cannot use robot trading, And you’ll get to know if broker is trying to fool you”
Hi @nitinSh! There are several discussions here about MT4 and MT5. You can check out them out.
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They’re both so bad that it doesn’t matter.
It’s self-fulfilling: it’s the one most retail forex traders use, and they say so, and people think it must be a good idea to use what “most people” are using (that’s part of why “most people” lose).
The three threads linked to above might help you, certainly.
I don’t know, but it’s nonsense. You can use automated trading with MT4, MT5 and dozens of other platforms, too.
Some people use MT4 because it has the most automated gadgets available (they’re called “Expert Advisors”) and that’s another reason why most people lose money.
I recommend TradingView (very good, very powerful, very easy to learn, very intuitive), and NinjaTrader (very good but harder to learn), and SierraChart (technically the best but also one of the most difficult to learn), in that order.
But almost anything is better than MT4 (and MT5).
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Hmmm… it has many drawbacks, perhaps the ability of the bookie to control the feed is highest, but as always in the right hands it has it’s uses.
The number one advantage is the thousands of indicators that have been written over the years - is there even one that could help a market participant?
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Some of the guys here say always show charts etc to clarify what a poster is talking about, so here is one in this link.
Mods, nothing for sale here, just a freebee indie from some old guy.
See that little flat area on the chart up at the previous high - that’s how I use WS, when price hit the high and then trundled along, bull flag, has to break to the upside.
Then check WS and it’s divergence.
https://www.instaforex.com/forex_indicators.php?ind=will_spread
And in keeping with everything up to date, this week there was a little talk of the same instrument, would it surge past 2400, mid week it had a try.
Note what WS thought of that - on MT4 of course 
Totally agree, it’s an absolute treasure trove for ideas and and strategies for those who know what they are looking at… with a few actual gem EA’s and Indicators that can be developed and improved on by those that have the ability to code.
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I suppose in the interest of disclosure - the gold colored line is MT4 gold.
Just so that there is no leaning maybe the US10yr could be different, perhaps a difference in risk appreciation:
Then again, maybe there is bias, perhaps there is a need for a different MT4 provider, maybe even a different earth time, over to GMT and away from the US.
Hmmm. so even use a different underlier… maybe the USDX on GMT.
This is where it gets boring
Some people see that as one of the leading disadvantages, actually, because it fosters an atmosphere of indicator-based automation which is seen by many successful traders (though by almost no beginners) as hugely misdirected effort.
I think the argument goes that learning to trade successfully in the long term is so difficult, and is achieved by such a tiny proportion of those setting out on the journey, that anything that’s overwhelmingly likely to turn out to be “wasted time” to the great majority of its participants shouldn’t be encouraged.
I don’t altogether adhere to this view, myself, but I must say that my instinctive reaction around beginners who “want to use MT4 because of all the EA’s available” is a feeling that they’re making life very, very difficult for themselves.
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Meta trader 4 or Meta trader 5 both are almost same just the version is little bit different. I don’t understand why some of the trader does not like MT4 or MT5 trading platform. Because I am using MT4 trading platform and I am pretty much comfortable with this. As a scalper I am getting good support from this. Because I need the latest market updates of every single second which I am getting from MT4 platfrom.
And another one than tradingview? Desktop application?
Someone have a tip?