Why do so many people use MT4?
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Thread: Why do so many people use MT4?

  1. #1
    Personally, I don't like MT4. Granted, it is a platform and you can use EAs and things of this character, but for a trader like me, I really don't see what the appeal is. It's very dated software and while customizable, for somebody who does not code or know where to search. For example, I use Thinkorswim for my forex trading purposes and it has all sorts of innovative orders already built into the machine like SL/MO/TP in a single click with capability to place up the pip differential ahead of the transaction, which eliminates having to enter amounts each moment. The one thing I want to enter is how big the order that may be done beforehand. I have observed no such attribute and have yet to run across an EA that replies this in precisely the same way. Any thoughts? Need to know if anybody out there's a better experience with MT4 as a manual trader. Especially for intraday trading.

  2. #2
    Hello,

    I completely agree with PipC
    MT4 is crap for me also, peronally I like the oanda fxtrade platform, but I cant use scripts for orders . Although I like the Ducascopy jTrader, but will never take a single transaction with ducascopy.

    In the moment I use MT5, there is a major different to MT4.
    At first its a complete new development, and the main think is, MT4 never had been cerified by any huge stock market, MT5 have as illustration the CBOT certifiion.

    Most of the reason behind mt4 I follw like hedging or multible order on a single pair. I never do hedging, I do order on a single pair, but its easier to see when its in one position.

    amando

  3. #3
    Quote Originally Posted by ;
    quote Why is it that people use MT4? #61623; FREE charting #61623; FREE live data feed #61623; FREE historic data #61623; FREE programming language and test facilities #61623; FREE demo trading for an unlimited time #61623;'No strings attached' trading -- there aren't any quantity quotas to meet, no matter which br0ker you open an account with #61623; Initial account deposits as low as $100, with some br0kers #61623; Lower net traffic/overheads than some charting platforms, as prior OHLC values are saved in your hard disk #61623; MT4 has...
    I don't like MT4 at all, clunky, dreadful, not instinctive. Ok, you can display things like you have shown but , seems information overload in my opinion. Vote Tradesestation!

  4. #4
    I concur, I really don't like MT4 either. I gave it a try for about 20 minutes and no. I seem at 6 displays simultaneously so I am a long ways away from the displays and I find that the text difficult to read. I like to be able to see where my account balances are all the time and that I though the metatrader did not exhibit it. I could care less on charting because I utilize sign for it. I have tried others but nothing else appears to be as great as my good ole global zen tader but that is just for futures. So far that the FXCM trade channel is the most easy in the easiest and my eyes to see.

  5. #5
    MT4 is definitely a basic platform, I find it primitive - it is lacking in so many locations.

    Seriously I feel a small percentage of people could become profitable easier just by taking their time to explore other platforms on the market. You'd realized from the box features from other platforms might allow you to develop your trading in ways you cannot do it.

    Many brokers on line platforms are better.

  6. #6
    Quote Originally Posted by ;
    EAs and scripts allow a potentially infinite number of egies to be automated, and artificial order form combos (straddles, OCO, hedges, scaling in/out, etc) to be generated. (You could be a manual trader, but what about these thousands of newbies who dream about the possibility of EAs supplying passive, easy income...??)
    Hahahaha genius

  7. #7
    It is the no obstacle to entry tool you can do magic things with it (indiors and EAs)
    After dropping tons of money you realize you do not need all this crap to make a buck at the Foreign Exchange.
    ... because it's the crap that causes you to shed (:

  8. #8
    Quote Originally Posted by ;
    quote Why is it that people use MT4? #61623; FREE charting #61623; FREE live data feed #61623; FREE historic data #61623; FREE programming language and evaluation facilities #61623; FREE demo trading for an unlimited time #61623;'No strings attached' trading -- there aren't any volume quotas to meet, regardless of which br0ker you open an account with #61623; First account deposits as low as $100, with some br0kers #61623; Reduced internet traffic/overheads than a charting platforms, as earlier OHLC values are stored on your hard drive #61623; MT4 has...
    Hanover,
    Where can I get the indior at the bottom of your screen-print please?
    I also have an independent CSM, but I like yours better.
    Would appreciate hearing from you.
    Thank you in advance and continued success to you.

  9. #9
    Quote Originally Posted by ;
    quote Hanover, Where do I get the indior at the bottom of your screen-print please? I like yours, although In addition, I have an CSM. Would love hearing from you. Thanks in advance and success to you.
    The indior is'CSM first' and is contained in the ZIP in post #24 (along with all the additional indiors used in the screenshot).

    More information on CSM here (simply search for'CSM' in the post, then visit the related links).

  10. #10
    The problem with mt4 is with the plug ins you can get to'scam' clients. Together with the slippages plug-in that is arbitrary you'd have no idea.

    I enjoy mt4 except to trade profitably ctrader offers a better chance.

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