Sorry if the question is too stupid.
I have recently watched a video course on Forex trading. The instructor used MT4 Live trading. He introduced some strategies that looked good when live trading on MT4. What he did was draw a 'Stop Loss' line and 'Profit' line and as current value crossed or touched the profit line, it was a win. He did not talk about expiry time at all.
I am a beginner and can't understand how to apply them when trading on a platform like Traderush,etc. The strategy worked everytime he traded, but am unable to choose an expiry time. Also he talked about 'Number of Pips increased or decreased.'
When trading on a platform like Traderush, etc all I did was 'CAll' or 'Put' ,set up an expiry time and if the price reaches my target it was a profit.
But trading on MT4, he talked about pips all the time and there was no choosing expiry time or how much money to trade with.
I am so confused. Can anyone kindly explain the difference between MT4 live trading and Normal trading.