True, there are some enhancement on mt5 but in terms of if its fast or slow I think it will depend on the server of the broker and the internet connection that the trader has, there are also broker that freezes their platform during high impact news release so the trader cannot do anything for a couple of minutes.Originally Posted by Doge
" Trading is 70% Psychology, 15% Risk Management and 15% Strategy ! "
there isa lot of good we all develop that we have to work as well informed and so we have to rule in the right trades and the technical and we are we have to work as well channel the working principles and so we have to prove we do a lot when we trade so we all rule in same trading preseption in so many ways and we have to work in difference of the right path of trades. I have never used an Mt5 and so I cannot compare with Mt4
Using MT4 or MT5 does not really matter on the results because its the attitude or character of the trader that really matter here, trading is not a science and you cannot succeed as a trader just by being technical, the psychological aspects play a very important rule in our quest of becoming a profitable trader.
" Trading is 70% Psychology, 15% Risk Management and 15% Strategy ! "
Well, it matters to me, but then it there should be a situation where as there is no MT4 anymore then for sure I can stick to the MT5 trading platform but it will take some time. Actually we need to be careful with forex trading and find what that works for us and which which we are more comfortable with.
Yeah if you are comfortable with mt4 then better to stick it mate, even I also don't think that right now I have to shift my trading account toward the mt5 platform service, I am using meta trader 4 since a very long time and its comfortable for me right now, but yeah if in future there will no mt4 allowed for trading then we have to automatically shift our account toward the mt5 platform use.
I think both mt4 and mt5 are good but I use mt4 since I am used to it. Main thing in trading is our analysis and our understanding. I spend 4 hours in a single day with forex. I believe in low profit strategy so when I reach to my daily target I just close the trade and do end for that day. I am not a full timer . I do just part time.
Yes part time trading is good for trader's I have also a short term goal and I am a short term trader too. Intra day trading is the specialty of mine and I don't like to hold my trades for long time, my target is only for 5 pips per day, I believe in intra day because I am a part timer and I like to gain small amount of money from here for my daily needs. Soon I will open an account for long term trading too.
If you don't use very complicated codes in Metatrader 4 the two platforms are practically identical about trading and charting experience. Of course you will always depend on the broker on which platform you will trade, but it is not necesarily that you must make your analysis on the platform you trade.
Wow. Much Forex. So Monies. Very Opportunity.Many Trade. So Amazed. Wow.
It doest not matter which kind of trader you are in forex, short term and long term both types of trader's have a good capabilities of making money in forex, the worst thing is the trading emotion, most of them don't have a strong medicine to control their emotion. They are struggling from those bad emotions regularly, Our short, long term both kinds of trading can become beneficial if we have a right psychology use in trading.
There are both opportunities for short term trading and long term trading. It is fine until trader has knowledge and is not emotional.. Greed in forex trading is a route to disaster because we cannot force the market to give us pips, but we must simply wait for the right opportunity to trade when our system tells us so.
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