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Questions about MT4 usage

  • #1
  • First Post: Mar 15, 2018 1:18pm Mar 15, 2018 1:18pm
why so many people use mt4?
this is like you use windows 98.
what are the befefits of mt4?
Why you not change to mt5?

waiting for answers

amando
The biggest drawdown is ahead of you
  • #2
  • Mar 15, 2018 2:48pm Mar 15, 2018 2:48pm
Quoting amando77
why so many people use mt4? this is like you use windows 98. what are the befefits of mt4? Why you not change to mt5? waiting for answers amando
Ok , a trader as Amando who ignored Jecklom deserves an answer , LOL.

Why so many people use mt4?
Because all the most important brokers in the world offer it and hundreds of thousands of traders continue to use it.

This is like you use windows 98.
No, you can not compare the development of Windows with that of the Metaquotes . Window 98 really is a dinosaur, while Mt4 is still a very effective platform.

What are the befefits of mt4?
Most of the indicators you find on the Net are designed for Mt4 and their update for Mt5 will take time.

Why you not change to mt5?
MetaTrader 5 does not allow hedging , it takes up more RAM space than Mt 4 and it has a reduced charting section .
Furthermore , never leave the old road for the new one , LOL.

Trade well !
  • #3
  • Mar 15, 2018 3:02pm Mar 15, 2018 3:02pm
Mt4 is the best, hands down.
you can customize it just about any way you want to trade.
if it is not broke don't fix it...
  • #4
  • Mar 15, 2018 3:10pm Mar 15, 2018 3:10pm
I'll offer a different point of view. Just my opinion of course..... Mt4 is dog shit. Most of the ea's available are there to address flaws in the original, which could have easily been solved in an update if..... metaquotes put any effort into improving it since the original release. Which they haven't. Now they present a brand new version, which is just a crappier version of 4. No improvements in user interface. None, nada, zilch.
The eighties called, they want their trading platform back.......
  • #5
  • Edited 3:33pm Mar 15, 2018 3:12pm | Edited 3:33pm
Quoting redoktober
{quote} Ok , a trader as Amando who ignored Jecklom deserves an answer , LOL. Why so many people use mt4? Because all the most important brokers in the world offer it and hundreds of thousands of traders continue to use it. This is like you use windows 98. No, you can not compare the development of Windows with that of the Metaquotes . Window 98 really is a dinosaur, while Mt4 is still a very effective platform. What are the befefits of mt4? Most of the indicators you find on the Net are designed for Mt4 and their update for Mt5 will take time....
Redoctober, MT5 allows hedge and offline charts too...
Try don't lose pants never...
  • #6
  • Mar 15, 2018 3:19pm Mar 15, 2018 3:19pm
Quoting braintheboss
{quote} Redoctober, MT5 allows hedge and offilen charts too...
My bad , I did not take into account the latest Mt5 updates. Thank you for the clarification , my friend !
  • #7
  • Mar 15, 2018 3:34pm Mar 15, 2018 3:34pm
Quoting redoktober
{quote} My bad , I did not take into account the latest Mt5 updates. Thank you for the clarification , my friend !
I agree MT5 was a crap but last year they improved it a lot. Anyway its far to replace MT4
Try don't lose pants never...
  • #8
  • Mar 15, 2018 4:53pm Mar 15, 2018 4:53pm
For position-traders there is virtually no difference (mt4 vs mt5); otherwise mt4 is the nightmare, mt5 somewhat better.
The problem is, most people do not understand what's what. Same thing as with trading. Therefore we live in a sh*tty (mt4) world. Because brokers say - people want it - and people say - brokers (only) have it. The chicken/egg problem..
Return To Disorder
  • #9
  • Mar 15, 2018 6:13pm Mar 15, 2018 6:13pm
Quoting Pipfu
I'll offer a different point of view. Just my opinion of course..... Mt4 is dog shit. Most of the ea's available are there to address flaws in the original, which could have easily been solved in an update if..... metaquotes put any effort into improving it since the original release. Which they haven't. Now they present a brand new version, which is just a crappier version of 4. No improvements in user interface. None, nada, zilch. The eighties called, they want their trading platform back.......
ok, but what platform is better?
what I mean is, what is out there that is better?
  • #10
  • Mar 15, 2018 6:18pm Mar 15, 2018 6:18pm
Quoting amando77
why so many people use mt4? this is like you use windows 98. what are the befefits of mt4? Why you not change to mt5? waiting for answers amando
owner says "waiting for answers" n members jump in
wtf............
WaBaS Where are Buyers and Sellers
  • #11
  • Mar 15, 2018 8:03pm Mar 15, 2018 8:03pm
I expect some of the biggest reasons why MT4 is so popular are:

1. It's free. Historical and live data feeds are also free.

2. There are millions of third party indicators and EAs available. If you want an indicator or EA to perform a particular task, then you're more likely to find that one has been coded for MT4. The MQL4 programming language is flexible enough to allow just about any strategy to be coded.

3. There are hundreds of brokers to choose from. If you decide you don't like your current broker for whatever reason, you can easily transfer your account to a different one, and instantly migrate all of your indicators and EAs, without the nuisance of having to familiarise yourself with a new platform. Most brokers offer demo accounts, allowing you to test as many different strategies as you wish, at your leisure, and at no cost.

4. MT4 is widely promoted and has become an accepted industry standard, regardless of its shortcomings (in much the same way that almost every PC owner uses Windows, even though there are better operating systems around).
  • #12
  • Edited 3:35am Mar 16, 2018 3:20am | Edited 3:35am
Quoting hanover
I expect some of the biggest reasons why MT4 is so popular are: 1. It's free.
I am surprised to read such from you, hanover. Or do you think MetaQuotes work(s) for free? The cost of the whole package is passed on (upon) traders, in the form of cost of trading. An open source solution would be much more cost-effective. In that same sense MT5 is free, too.
Quote
2. There are millions of third party indicators and EAs available.
Sure, and 99.99% of them not even worth the effort. There are enough such tpi and ea's available for MT5. Possibly only not on forums like FF.
Quote
3. There are hundreds of brokers to choose from. If you decide you don't like your current broker for whatever reason, you can easily transfer your account to a different one, and instantly migrate all of your indicators and EAs, without the nuisance of having to familiarise yourself with a new platform.
Yes, for slow minds this may be a valid argument. However, MT5 is like 99% the same GUI. Add another thing: If one trades very often, for small gains, cost of trading becomes of importance (and thech: speed, asynchronous, event driven arch. - everything MT4 does not have), and, while there are many expensive brokers out there, good and reasonably low-cost brokers are very rare (if any).
Quote
Most brokers offer demo accounts, allowing you to test as many different strategies as you wish, at your leisure, and at no cost.
There is MT5 demo accounts, too. And you have tick-support built in. The MT4 tester is worthless for fast-trading strategies.
Quote
4. MT4 is widely promoted and has become an accepted industry standard, regardless of its shortcomings
Yes, because it was made for the back-in-the-day bucket-shops, to scam their clients. Used today for the very same purpose, just changed flag (a.k.a. ECN and BS).

Its very simple: MT4 or MQ products in general are for the idiots who like to pay MetaQuotes and brokers to get scammed and bound to MQ's moods and shortcommings. Instead of using free software (force brokers) and therefore have freedom of mind.
Return To Disorder
  • #13
  • Mar 16, 2018 4:07am Mar 16, 2018 4:07am
Quoting amando77
why so many people use mt4? this is like you use windows 98. what are the befefits of mt4? Why you not change to mt5? waiting for answers amando
For newbies to knock every door of stupidity, while understand the trading world with less harm to themselves, its verry good .
In the court of lord, only love and devotion is counted...
  • #14
  • Mar 16, 2018 6:00am Mar 16, 2018 6:00am
Quoting amando77
why so many people use mt4? this is like you use windows 98. what are the befefits of mt4? Why you not change to mt5? waiting for answers amando
//----

hey amando..... it seems your really asking just one question..... with mt5 being far superior to mt4 'why' not change......

there are several reasons, for me, such as,

1. i can not code like Nikolay Kositsin, mladen or enivid.....

2. my broker does not offer it yet.....
//------

truth be known, mq5 separates the coders from the mq4 hayseeds...... but oanda does not offer it so that's my story and i'm stickin to it.............h
to trade and code, keep both simple... no call to impress....h
  • #15
  • Mar 16, 2018 7:38am Mar 16, 2018 7:38am
Because people know MT6 and MQL6 will be better...
  • #16
  • Edited 1:14pm Mar 18, 2018 1:51am | Edited 1:14pm
Quoting rockit
I am surprised to read such from you..........
Apparently you misread my post, especially the very first sentence. I never said that MT4 was an institutional grade trading platform, I merely listed some reasons why it is the most popular choice of the masses.

Sorry if I'm merely stating the obvious, but to answer your points:

Quote
The cost of the whole package is passed on (upon) traders, in the form of cost of trading.
Sure. But with products like eSignal or Tradestation, you must pay hefty upfront monthly costs for both the platform, and relevant data feeds. To cover these costs, you must open a significant size account and already be a consistently profitable trader, before you even begin to test your strategy, a 'catch22' situation. Whereas with MQ, you can simply open a free demo account and test for as long as you need to.

Quote
Sure, and 99.99% of them not even worth the effort.
The indicators and EAs that I use myself are useful and do their job effectively enough.

Quote
Yes, for slow minds this may be a valid argument..........The MT4 tester is worthless for fast-trading strategies.
Most traders are not software engineers. They don't want unnecessary IT-related complication. And having no coding skills, they must test their strategies manually, making strategy tester irrelevant. And not every trader uses "fast-trading strategies". I agree that broker costs are an important consideration, but the longer your trading horizon, the less significant they become.

Quote
MT4 or MQ products in general are for the idiots who like to pay MetaQuotes and brokers to get scammed and bound to MQ's moods and shortcommings. Instead of using free software (force brokers) and therefore have freedom of mind.
Sure, there are packages that offer more advanced charting and trading facilities, and are operationally superior to MT4; in the main, you get what you pay for. Nonetheless, I've used MT4 since 2007 and I'm perfectly happy with my trading results. I don't need institutional grade performance. I've had live accounts with four different MT4 brokers, and I've never been scammed.
  • #17
  • Mar 31, 2018 6:28am Mar 31, 2018 6:28am
Hello
Hanover I follow a few things from you thumb and respect
A question can be assigned or plot a tpo chart excel
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  • #18
  • Mar 31, 2018 6:42am Mar 31, 2018 6:42am
Please excuse my english
just want to know if that is possible to excel
  • #19
  • Mar 31, 2018 9:26am Mar 31, 2018 9:26am
Quoting kette
Please excuse my english just want to know if that is possible to excel
you can do. Early everything on excel, only you have to programm it
The biggest drawdown is ahead of you
  • #20
  • Mar 31, 2018 9:35am Mar 31, 2018 9:35am
Many Thanks
but I can not do that
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