how to trade forex using MT4 ?

sumantra

Active Member
#1
hello
i am a beginner in forex trading. i recently opened an a/c(demo) in MT4.they gave an initial balance of AUD5000. started trading in gbp/usd pair. i made AUD46 profit. although it is a demo a/c but astonishingly i have seen that there is an option for withdrawal. then i go to MT4 forum. seen that many boarders has withdrawn their money ? how is it possible ?

again there are several problems i am facing in trading forex. every time i have gone in a hedge, but then also i am unable to avert losses. every time i have closed a position with some profit, the another position made me a greater loss. i am unable to become a profitable trader. can anyone suggest me how to come out of this vicious circle ??
 
Last edited:
#2
hello
i am a beginner in forex trading. i recently opened an a/c(demo) in MT4.they gave an initial balance of AUD5000. started trading in gbp/usd pair. i made AUD46 profit. although it is a demo a/c but astonishingly i have seen that there is an option for withdrawal. then i go to MT4 forum. seen that many boarders has withdrawn their money ? how is it possible ?

again there are several problems i am facing in trading forex. every time i have gone in a hedge, but then also i am unable to avert losses. every time i have closed a position with some profit, the another position made me a greater loss. i am unable to become a profitable trader. can anyone suggest me how to come out of this vicious circle ??
If u come to know how to w/draw $$$ from a demo ac. let us know;)
 

mastermind007

Well-Known Member
#5
hello
i am a beginner in forex trading. i recently opened an a/c(demo) in MT4.they gave an initial balance of AUD5000. started trading in gbp/usd pair. i made AUD46 profit. although it is a demo a/c but astonishingly i have seen that there is an option for withdrawal. then i go to MT4 forum. seen that many boarders has withdrawn their money ? how is it possible ?

again there are several problems i am facing in trading forex. every time i have gone in a hedge, but then also i am unable to avert losses. every time i have closed a position with some profit, the another position made me a greater loss. i am unable to become a profitable trader. can anyone suggest me how to come out of this vicious circle ??
Sumantra

Withdrawals in demo account are just to show you how the withdrawals work. At some point, it will throw error and stop you from withdrawing.

MT4 is probably the most commonly offered platform for trading forex. The s/w by itself is pretty good and you can write your own indicators and EAs.

There are thousands of sites and forums (with look and feel just like this one) that offer MT4 source and or binary for practice.

Best thing about MT4 is that you can set Profit and Stop loss levels for same order and then walk away from it and let market go in whichever way it will. This will help you control the extent of losses.

One of the practical way to pull out of vicious cycle is known as "Martingale" strategy. CAUTION: Be careful and read about it properly before acting on it because Martingale is also spoken about for its potential to wipe out accounts completely
 
#7
you can try pipsology or shcool of babypips its a good place to gain the basics both in mt4 or even trading in general best of luck
 

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