Thread: MT4 - Why is it loved so much

Originally Posted by ;

Why MBT over ATC? ATC is reside MBT is still in Beta, what's so good about MBT that you waould instead wait than go with ATC? Or what is so bad about ATC?

'Cause I am looking at doing the exact same thing, and value opinions of those more experienced than myself.

Due

ATC is a IB for Hotspot, and generally Hotspot's spreads Aren't as good as MBT's. Nothing terrible about them per se.

Originally Posted by ;

ATC is a IB for Hotspot, and generally Hotspot's spreads aren't as superior as MBT's. Nothing terrible about them per se.

Exactly. The distinction is getting larger, although, when you take a look at MBT spreads as of this week.

Originally Posted by ;

I agree that MT4 is not exactly the ideal bundle, but it will have a lot of indiors, there's already a community in place for the EAs, and it's totally free (minus all of your losses). That is why I think it'll be hard to have someone spend the time fighting the battle of beating MT4. I'd love to see a killer web-based Currency Market app with great executions along with a drag and drog system, but I am not holding my breath.

To each his own. What works for me does not work for you, and vice versa. Personally, I am not a massive fan of MT. The platform, itself, will be miracle... easy to work with, most popular indiors comes loose, light weight, etc.. Its the brokers that MT is hooked on not a massive fan. A fantastic majority of MT brokers would be the most shady of this business. Not saying brokers that uses other platforms are by any means, ideal. Its just, MT seems to attract the most sleazy of this crowd.

And I totally agree on web based platforms. Don't know why that niche hasn't taken off. I love it and use GFT DealBookWeb exclusively. Its not ideal by any other means, may be slow time (but rarely), its heavy for a web app that uses AJAX, charting may be slow (not maintaining with quoteboard price action, seems to be a 1-2 seconds behind), interface is not customizable, etc.. The great thing about using it's, its web based, have the majority of the functional properties of the actual platform, has all of the majpor indiors, great realtime charts, etc.. As soon as I started my account with GFT, taking a look at the web based trading was not something I wanted to do but through time, it has improved dramatically.

Now, with MT function as pioneer of FX trading platforms... when will they create an internet based platform. I know its possible, if you see their EA Championship webpage, your will see a few fantastic examples of MT web based chart (done with Flash).
Here is and example of what I mean, http://championship.mql4.com/2008/users/Liliput/ Looks just like the actual platform.

Originally Posted by ;

CON:
1. Many MT4 brokers are crap BUCKETSHOPS
2. Virtual Trader Plugin = automated wholesale screw-the-trader cheat
3. Slow 1st order execution - must be the manner MT4's badly written client-server protocol

4. MT4 does not have any option for the end consumer to set the local timezone on charts

The deficiency of the very basic elementary feature, which is supplied by every additional charting platform accessible, continues to baffle me. .

I have used mt4 and after countless hours with it, I begin to miss a few functions that would made my life easier. Nr 1 is what KGB cite over. Nr two is more functions with TL. Painful to correct colours/seize that is distinct each time you draw on lines. Some stockchart pages I have used have some excellent features in regards to TL's. Nr 3 is to possess the applications for shares, bonds etc which seems like heaven to me .

However, I really can not complain since the program is free. Simply mention it

I can not envision any professionals using mt4 Once I see what alternatives software's like Tradestation have (that's the trading-platform I'm drooling at at least once a week )

I thought I would post this following your comment about trendlines/colours etc.. This helps if you didn't know it.
Go into Tools, then options, then objects and check the box for display properties after creation. Then when you draw a trendline parameters etc for you to alter or accept. It saves attempting to grab the lineup along with your ma's etc.. If you knew this, perhaps someone reading will gain from it.
cheers
Andy

Originally Posted by ;

I thought I would post this after your remark about trendlines/colours etc.. If you didn't know it 10, hope that this helps.
Go into Tools, then options, then objects and check the box for show properties after production. Then once you draw a trendline it pops up a box with colours, parameters etc for you to alter or accept. It saves attempting to catch the line amongst your ma's etc.. If you knew this, maybe someone else will gain from it.
Cheers
Andy

Yes, makes it a bit easier, true. Thanks for sharing it anyway, might be helpful for others too.

I wish I could find the options menu to create my candles OBEY the lines when I could be bothered to go to the effort of placing them there.

Originally Posted by ;

Agree with LongToBeFree.

6. It easily running on my Ubuntu machine.

Hey brother. I run Ubuntu hehe

Originally Posted by ;

I've used mt4 for quite some time and after millions of hours using it, I start to miss a few functions that could made my life much easier. Nr 1 is exactly what KGB cite above. Nr 2 is more works with TL. Painful to adjust colours/seize that is distinct each time you draw on lines. Some stockchart pages I've used have some features in regards to TL's. Nr 3 is to possess the same software for stocks, bonds etc etc which seems to me like heaven.

But I really can't complain because the software is completely free. Just mention it

I can't picture...

From what I hear Tradestation is your company, simple to use, simple to code. But you have to buy this, and try finding someone that can code it MT4 is completely free and many people write code for this, not merely EA's but habit indi's etc, so we sacrific you.
Reminds me of microsoft - give it to them today, as soon as they believe that it's the only alternative, will bill them the earth for this. You know that it's coming, ok we already pay for.

Perhaps we should start a campain right here and find another platform provider and encourage them to alter the future.