broker (demo | Live)

[radaway]

Hi
currently I have a mt4 demo account(30 days) with axi trader in the uk.(btw is this good ? , I just got it because someone teaching on the net mentioned about it)
AFAIK, once the 30 days finish, I need to shell out money either to open the live a/c or extend the demo a/c.
I don't think a 30 days time-frame will suffice for me as a practice session and I want more time on this rather than be forced to pay because of a deadline. Are there demo a/c available(with MT4) without time frames and forced costs ?

also as a rookie the day will finally come, so which broker should I go for ? a 'customer friendly' broker for someone who is starting with a small wallet. any sources here ?

Thanks

 

[timsk]

. . .also as a rookie the day will finally come, so which broker should I go for ? a 'customer friendly' broker for someone who is starting with a small wallet. any sources here ?

Hi radaway,
The precise packages available will vary from one broker to the next. That said, most of them will allow you to run a demo account in tandem with a live account. So, once the live account is open and funded, you can just trade the demo. Some brokers may charge you an inactivity fee if you don't place any live trades or require you to execute a minimum number of trades per month (usually quite low).

I don't know anything about axitrader - so I can't comment about them.

With regard to choosing a broker, check out this FAQ: http://www.trade2win.com/boards/new...mmend-data-feed-charting-software-broker.html
Tim.

 

[Will Duxon]

RE: Demo Broker

Hey Radaway,

I cannot suggest any brokers to you, but when it comes to trying out any of the experimental indicators I code for my own use, the MT4 demo platforms I use at no cost and without any kind of time limitation include these four:

1. IG Meta Trader, which (in addition to the major currency pairs) gives me major world indices, gold and silver.
2. MetaTrader4 at FOREX.com, which if I remember correctly, offers a WIDE variety of currency pairs.
3. JFD Brokers, which (in addition to the major currency pairs) I think also lets me trade Apple (AAPL)
4. and Varchev Financial

 

[radaway]

meaning of this column

what is the exact meaning of this column in mt4 (pl. see attachment)
Thx,

 

[radaway]

color schemes explained

in the attachment (in mt4)

what does the , Green & white (for TP), Grey ,red & white( for S.L), color describe

I know take profit & stop loss, but why are they at times depicted in different colors ?

Thx.

 

[radaway]

oanda is free demo & 'forever'..am I right

 

[forker]

If you trading a currency pair the swap happens every night when the interest rate differentials is paid. If trading usdjpy for example, USA has a base rate of 0.5% and Japan has a base rate of -0.1%. If you are long USD against yen then the swap is 0.4% paid to you. If you are short USD then you need to pay 0.4%

 

[forker]

This is how carry trades work

 

[radaway]

<every night when the interest rate differentials is paid>

this is beyond the 'users' control right ? the market is deciding this , am I right ?
Thx.

 

[forker]

Central banks make the rates and all participants are paid or deducted according to their holdings

 

[forker]

If you want to avoid it close the positions before rollover and open them afterwards. Just be aware that you probably will pay a wider spread

 

[radaway]

Thanks for the clarification

 

[forker]

as price approaches they will change colour (green target,red stop)

 

[radaway]

okay, and the white and Grey colors ?
let me be objective here : the red S.L from the image = 1.12288 ( the 1st on top)
so it 'stopped' here ..fine , so its red

but it also stopped at 19.140 (record above that). but thats grey and not red. ( these are all closed trades : from account history)

 

[darktone]

The Green column is for happy and the Red column is for sad. If you make sure all SL values are set to '0' then all your tardes execute in the happy column

 

[Signalcalc]

Can you repeat that I didn't quite get it?

 

[radaway]

<if all SL values are set to '0' >
does not explain why S.L cud be 19.4 and its still 'happy ' on the right
but thx. for the short post

 

[darktone]

<if all SL values are set to '0' >
does not explain why S.L cud be 19.4 and its still 'happy ' on the right
but thx. for the short post

Ahhhh, thats because the market went to happy place before the sad place

Taking a wee look at this trade. If you had your SL value set anywhere above 10184.6, it would have executed in the sad place (on the left in red). But because the SL was set to 0 there was no sad place execution, as the market didnt go to 0. But the market did go 10162.7, at the TP, in the happy place (green bit on right)

 

[radaway]

this picture said to me > 1000 words.
extremely grateful to you Sir

...or just a Big Thx. here Darktone .
this issue is now closed

 

[radaway]

Journal (mt4)

Hi All

two queries on the Journal (mt4)

1) how do I save the journal to a log file( text or csv...doesnt matter). ? or can I see the complete logfiles from inside the mt4 installation ?

2) this is actually a sub derivative of the 1st query. If I shut down mt4 or the PC then next time it only shows the new session logs in the Journal. so where can I find the complete history from.?

Thanks in advance