Date:Thu Nov 21 2024Tokyo:1:57Sydney:3:57New York:11:57London:16:57CET:17:57
BinaryOptions.net Forums› Beginners Questions
Chart software from different brokers?
andywu217
Posts: 4 ✭
Posts: 4 ✭
Hi everyone,
I'm pretty new to binary trading and just opened up a demo account with markets world. I can't seem to find out where I can download metatrader4 from the market world website. Is it possible to sign up for another broker's demo account and use their MT4 download to chart but make the trades on the market world demo account? Are there any inaccuracies this way? Thanks for reading!
I'm pretty new to binary trading and just opened up a demo account with markets world. I can't seem to find out where I can download metatrader4 from the market world website. Is it possible to sign up for another broker's demo account and use their MT4 download to chart but make the trades on the market world demo account? Are there any inaccuracies this way? Thanks for reading!
Comments
Did you try googling Metatrader 4? lol
http://www.metatrader4.com/
there you go!
Binary options brokers don't offer price feeds or MT4 only
their own, Inside-platform charts and they usually suck.
With MetaTrader 4 installed you simply choose a broker (Forex broker)
in the list, just a demo and you will be connected to their server, no need
to pay for anything. Guess you already figured out that part? Anyway, I strongly
recommend you carefully compare the prices you get on MT4 with your broker, it
is totally normal that there is a 1-3 pip difference but if it looks totally different you need
to change the broker you are connected to via MT4. I recently had this problem with my
price feed when my charts where 2 minutes behind the price feed of the binary broker and
you know how devastating that can be when you are 2 minutes late to enter a trade!
Okane - i had a few more questions if its not too much trouble.
1). When trading I noticed that their is an expiration time to make the trade depending on when the trade is. Do you usually buy the trade after seeing the your indication. for example i like buying a call on a engulfing candle near the bottom of a boillinger band. Do I buy the option before I see the candle end? I've tried to buy this trade 5 or 6 seconds before the expiration time and it usually gives me an error in my trade and then i try to click again and it buys for a 10 minute trade instead due to lag. IS it normal for us to buy the 5 minute trade after the candle stick has ended?
2) for support and resistance, when we use 15 minute or 5 minute trading times do you have any guidelines on what type of data to draw support and resistance for? for 15M i tried drawing for the last 2 hours or last 3 hours, maybe their is a guideline for this
3) I noticed that the price spread between the MT4 software and markets world was 13 pips. But no matter what the price is on markets world the MT4 price is always 13 pips difference. Is this normal? (even though qith a consistent spread doesnt seem like analysis behind the trend changes at all).
4) on average how many trades do you make a day when your trading 15M vs 5M vs 1M?
Sorry for all the questions!
Thanks,
Andy
First of all I strongly suggest you check these two threads out:
http://forum.binaryoptions.net/discussion/1416/learn-price-action-how-to-start/p1 <-- How I do S/R and trends etc.
http://forum.binaryoptions.net/discussion/1595/okanes-price-action-watch-trades-analysis-videos#latest <-- examples of how I analyze charts and take trades.
As you can see, there are several videos you should view at least a couple times to digest them. It will teach you a thing or two.
To understand when exactly you should enter a trade you need to have a better understanding on support
and resistance which I cover in the videos (even though B-bands are not discussed, doesn't matter).
So those videos should cover more than your questions 1 and 2.
3. Yes price differs from broker to broker (Metatrader broker) and in comparison to binary brokers.
My MT4 and Broker differ a couple pips, constantly. So what I have to do when I see my MT4 chart for example
jump up and touch my resistance line is to wait one or two seconds for the brokers chart to do so as well
before I enter my trade. So long as I remember to do so, no harm done!
4. I don't trade based on short timeframes solely, again if you watch the videos above they should answer
this question as well. Even a 10 min trade can be based on a daily chart! In average I take 2 trades a day.
If there are further questions please ask them in the thread dedicated to that specific subject so I
can know what you are talking about. Thanks and good luck!
Thanks!
Of course you can PM too. But best if you ask in the threads so other people might
have the same questions and I won't have to answer the same question a 100 times. Thanks!