newbie MT4i question

[RahmanSL]

Mandolin, I think you are in too much of a hurry to start trading the forex to rake in those millions

Go to top of the page/site and click on Education & Forums"...select "Hot! Complete Forex Course" and read & understand chapters 1 to 40 which should (depending on your time and reading speed) take you anywhere from a couple months to a year or two.

Then after you have a fairly good grasp of what trading the forex is all about, start hammering on a live account and rack in those millions .......to fast track to those "millions", you might consider trading with Vietnamese Dongs

In a nutshell, just take some time to try out the forex market and eventually you will get the hang of it....or...like myself after more than 3 years...not!

Have a pleasant & enjoyable forex journey!

 

[Mandolin Bee]

Mandolin, I think you are in too much of a hurry to start trading the forex to rake in those millions

Go to top of the page/site and click on Education & Forums"...select "Hot! Complete Forex Course" and read & understand chapters 1 to 40 which should (depending on your time and reading speed) take you anywhere from a couple months to a year or two.

Thanks for the advice... but I'm not sure what questions about how to use stat tracking makes you jump to the conclusion that I'm in a hurry. I'm on a demo account and learning the software while I take lessons through Apiary Funds.

 

[Pharaoh]

Some people like to share their stats. Others prefer to keep them private.

When I started trading forex, I shared my stats with one person - my father. That was more than enough embarrassment for me. Other people may find sharing their stats publicly to be a great motivator. Like scalping vs. longer timeframes, do what works for you.

 

[Mandolin Bee]

Another MT4i question, sorta.

My software came with a sync for stats getting sent to apiary. But I just realized that when I run the MT4i thing, my apiary stats don't update. I take it only one of them is working at a time? Is there a way to have my stats reported by both at the same time in MetaTrader 4?

 

[Red Herring]

Some people like to share their stats. Others prefer to keep them private.

When I started trading forex, I shared my stats with one person - my father. That was more than enough embarrassment for me. Other people may find sharing their stats publicly to be a great motivator. Like scalping vs. longer timeframes, do what works for you.

I think this guy is discussing more about his software not trade!

 

[Pharaoh]

Let's get the software sorted and then we can look at the trades.

Install a 2nd copy of MT4 from your broker into a different folder. For example, if the first copy is in C:\progfiles\bucketshopMT, put the new one in C:\progfiles\bucketshopMT-spare.

Set an investor password on your account. Even though it's a demo, this will be handy in a moment.

Do ALL of your trading and reporting to your training company from the first copy of MT4.

Login to the 2nd copy using the investor password. Use that copy to share your trades via MT4i or any other public sharing sites. This eliminates all potential conflicts with any software used in your trading or training.

 

[FringFX]

Mandolin,
I have read recently about a conflict between MT4i and Metaquotes.

Keep that in mind when using MT4i as it might not last any longer, unless its issue gets resolved.

 

[Rambo35]

Hey, I am completely new to trading, and I just have a question based on some things I have read here and elsewhere.

First, I gather it is useful in some way to have an mt4i account and track my trades. So I have gone to the website, opened an account, and downloaded MT4i Publisher for EA.

I'm learning to trade via Apiary, and just started -today-. I downloaded their MetaTrader software and have been assigned a demo (fake) trader account for learning and practice.

Now, my question(s): Is it possible for me to track my -fake- trades, and is it a good idea for me to do so? Will setting up the publisher in my software add things to the interface that could interfere with me -learning- the software?

What, exactly, does the MT4i do for me that my trading software doesn't? I -have- read the website at mt4i, but to be honest it uses jargon that assumes a level of knowledge I don't possess (yet). Just in layman's terms: does MT4i tell me how well I am doing? Doesn't MetaTrader track that itself? Etc.

Thanks!

--Manda

Do you really need a piece of software to tell you how good or bad you are doing? I mean your account balance should give you all the info you need.

 

[Mandolin Bee]

Do you really need a piece of software to tell you how good or bad you are doing? I mean your account balance should give you all the info you need.

Hey, you're totally right! I can't believe I didn't think of that myself. Thanks!

Since you're in a helpful mood, I'd appreciate any advice you might have on how I can improve my trading. See, for my first several trades, I had some pretty good positive results, and my account balance was higher than the original balance. But NOW, my balance has fallen.

What should I do?

Thanks!

 

[Pharaoh]

Do you really need a piece of software to tell you how good or bad you are doing? I mean your account balance should give you all the info you need.

Within limits, this makes sense.

Then again, good trade analysis software can warn you that you are routinely risking far too much of your account - a flaw that doesn't always show up on an account balance until it's too late.

Tracking all your trades serves another purpose. Every now and then, you need to look at your losing trades and see if there's a detectible pattern - if so, maybe you can filter some of these out without trimming out very many winners. Also, check your winners - maybe that TP is too conservative and you could average an extra 5 or 10 pips per trade while only converting 1 winning trade in 20 from profitable to break-even. Alternatively, maybe a tighter take profit would convert a lot of breakeven trades into winners.