General Discussion

[eliteincome]

Hello

What I want to do is start with opening the $25 account at FXCM.
Is it possible toget going an add funds as you go.
The plan is to build up a balance,compound an grow the account.
I see people have big money to start an play with,I am not in this postion at the moment.
I see people are losing heaps,an they are the people that are meant to be good at this.
The future is that you need to learn the skills that will provide you with new ways of earning a regular buck.
It seems everyone is jumping on the these robots,still your account has to be able to see you through the lows until they bounce back into profit.
Doing the demos an carrying over the drawdown until you are back in profit,in a way you never lose.
This is not real money an you have toget a feel for what is happening out there.
Ok any one else in the same postion.

Thanks Len

[phanna]

I have accessed the MT4 video. I would like to learn more. I presently have a Micro account on the Trading Station. I will soon be establishing a larger account and would like to become more acquainted with MT4 so that I can make a decision as to which platform would work best for me. At first glance it appears that The Trading Station is more elementary. Is this true? Also, I am not certain as to what is meant by "obtaining a report for MT4 on the Trading Station (which apparently is read only if you trade on MT4)". How does one get a printout?

Please advise me. Thanks.

[Jason Rogers]

Hi Len,

For starting with $25, you would have to go with FXCM Micro and use the FX Trade Station. The MT4 platform is only available for account balances with $2,000 or more.

You could always start with the micro account and then convert it to an MT4 account once your balance is up to the minimum.

-Jason

Originally Posted by eliteincome Hello What I want to do is start with opening the $25 account at FXCM. Is it possible toget going an add funds as you go. The plan is to build up a balance,compound an grow the account. I see people have big money to start an play with,I am not in this postion at the moment. I see people are losing heaps,an they are the people that are meant to be good at this. The future is that you need to learn the skills that will provide you with new ways of earning a regular buck. It seems everyone is jumping on the these robots,still your account has to be able to see you through the lows until they bounce back into profit. Doing the demos an carrying over the drawdown until you are back in profit,in a way you never lose. This is not real money an you have toget a feel for what is happening out there. Ok any one else in the same postion. Thanks Len

[Jason Rogers]

Hi phanna,

I've seen users feel strongly about both the FX Trade Station as far as which platform they prefer. As a rule of thumb, I find the FX Trade Station better if you are going to be self-trading and the MT4 paltform better if you plan to use expert advisors for automated trading. The MT4 platform does have more features available on their charts, whereas the FX Trade Station has more trading execution features such as one click execution, partial closing of orders, at best vs. market range orders.

The Account History tab in the MT4 Terminal window will show a history of your trades, but it's always best to verify it against the read only login you will receive with a live account. The read only login is always the statement of record.

Jason

Originally Posted by phanna I have accessed the MT4 video. I would like to learn more. I presently have a Micro account on the Trading Station. I will soon be establishing a larger account and would like to become more acquainted with MT4 so that I can make a decision as to which platform would work best for me. At first glance it appears that The Trading Station is more elementary. Is this true? Also, I am not certain as to what is meant by "obtaining a report for MT4 on the Trading Station (which apparently is read only if you trade on MT4)". How does one get a printout? Please advise me. Thanks.

[phanna]

Originally Posted by Jason Rogers Hi phanna, I've seen users feel strongly about both the FX Trade Station as far as which platform they prefer. As a rule of thumb, I find the FX Trade Station better if you are going to be self-trading and the MT4 paltform better if you plan to use expert advisors for automated trading. The MT4 platform does have more features available on their charts, whereas the FX Trade Station has more trading execution features such as one click execution, partial closing of orders, at best vs. market range orders. The Account History tab in the MT4 Terminal window will show a history of your trades, but it's always best to verify it against the read only login you will receive with a live account. The read only login is always the statement of record. Jason

Thanks. Really appreciated your input.

phanna

[Jason Rogers]

If you have an MT4 account, please make sure to read our press release about the upcoming FIFO rule and how it will affect MT4. Here is where you can find the press release Notice to FXCM LLC (FXCM U.S.) Traders with MT4 Accounts: KEEP MT4 AND YOUR EXPERT ADVISORS: TRANSFER YOUR MT4 ACCOUNT TO FXCM UK AS OF JULY 31, 2009, ALL FXCM U.S. MT4 OPEN POSITIONS WILL BE CLOSED.

[ROSMAN]

that is me... always lost,,, the trend always against my positions.... can anyone help me... right know i'm looking for the best EA auto/robot.. i'm not good in FA (fundamental analysis) or in TA (techncal anaysis)... you can send to my email at rosman@ymail.com about the the best EA auto/robot..... tq.. v. much

[Jason Rogers]

Originally Posted by ROSMAN that is me... always lost,,, the trend always against my positions.... can anyone help me... right know i'm looking for the best EA auto/robot.. i'm not good in FA (fundamental analysis) or in TA (techncal anaysis)... you can send to my email at rosman@ymail.com about the the best EA auto/robot..... tq.. v. much

hi Rosman,

I would suggest starting with the free EA's on the forum http://forexforums.dailyfx.com/mt4/6...-advisors.html or try the Forex System Selector which has over 40 back-tested systems to choose from.

There are a lot of EA's/robots out there, so make sure to do your due diligence.

Jason

[Jason Rogers]

FXCM is in the process of setting up VPS for MT4 users. If you have a live MT4 account and would like to beta test the VPS, let me know.

-Jason

[marketwavez2]

Originally Posted by Jason Rogers FXCM is in the process of setting up VPS for MT4 users. If you have a live MT4 account and would like to beta test the VPS, let me know. -Jason

What is VPS ? ............ please explain in detail .....

( tell us of Advantages and Disadvantages )

thanx

[Jason Rogers]

Originally Posted by marketwavez2 What is VPS ? ............ please explain in detail ..... ( tell us of Advantages and Disadvantages ) thanx

hi marketwavez2,

That is an important detail

VPS stands for Virtual Private Server. A VPS allows you to run the MT4 platform and your MT4 trading account on a secure dedicated server independent from your computer.

The benefit is that you don't need to be running your computer 24/7. This is important for traders using expert advisors. Expert advisors (EA's) will only operate if the MT4 platform is open and running on your computer. If your computer crashes or you lose internet connection, your EA is no longer running and trades cannot be managed by the EA.

If you use a VPS, you can turn off your computer or internet conection, and the VPS will still execute your trades.

Jason

[kpips]

I've been using MT4 with a demo account and can see the history but need to verify it against FX Trade Station. I understand I'll get a read only login when I set up a live account, but I want to be able to do this with a demo account. I did receive an investor password that's for read-only, but I have not been able to get into FX Trade Station with it. In Trade Station, I enter my MT4 account login number and then the investor password (since it said it's for read-only access). Shouldn't I be able to access FX Trade Station (for validation/reporting purposes only) with an MT4 demo account? I want to be able to do everything in demo as I would with a live account.

Thank you!!
kpips

Originally Posted by Jason Rogers Hi phanna, I've seen users feel strongly about both the FX Trade Station as far as which platform they prefer. As a rule of thumb, I find the FX Trade Station better if you are going to be self-trading and the MT4 paltform better if you plan to use expert advisors for automated trading. The MT4 platform does have more features available on their charts, whereas the FX Trade Station has more trading execution features such as one click execution, partial closing of orders, at best vs. market range orders. The Account History tab in the MT4 Terminal window will show a history of your trades, but it's always best to verify it against the read only login you will receive with a live account. The read only login is always the statement of record. Jason

[Jason Rogers]

Hi kpips,

A read only login for the FX Trade Station is only created for live accounts on MT4. The same is not created for demo accounts. For MT4 the demo, please use the account history list in the terminal window to keep track of the trading history.

-Jason

Originally Posted by kpips I've been using MT4 with a demo account and can see the history but need to verify it against FX Trade Station. I understand I'll get a read only login when I set up a live account, but I want to be able to do this with a demo account. I did receive an investor password that's for read-only, but I have not been able to get into FX Trade Station with it. In Trade Station, I enter my MT4 account login number and then the investor password (since it said it's for read-only access). Shouldn't I be able to access FX Trade Station (for validation/reporting purposes only) with an MT4 demo account? I want to be able to do everything in demo as I would with a live account. Thank you!! kpips

[kpips]

I have been using FXCM MT4 powered by BT and a demo account for a few weeks now. I'm running only the FapTurbo EAs -- the scalper on the EUR/GBP, UER/CHF, GBP/CHF, and USD/CAD.

For the Slippage setting I had it set to 3 for awhile and recently changed it to 6. Most of my trades are closing near the T/P and S/L settings, but many of the trades completely blow past the T/P or S/L settings. In some cases it's to my advantage - a trade closed with a profit of 82 pips when the T/P was at 6 pips, but on the flip side a trade closed with a loss of 92 pips when the S/L was at 36 pips.

Can someone please explain what happens when it flies by the T/P or S/L settings? I understand it can happen during high volatility, but if the S/L is set at 36 and it jumps past it to 70.....then what does the system do? Does it close my trade as quickly as it can even though it's way off from the S/L setting? Or does it go through more analysis to determine when to close?

Some postings I've read say to tighten the slippage to 2 or 0, but other posts say to increase it significantly, and others say to leave it at 6.

Just trying to understand the process it goes through so I can tweak my settings to improve the results (although they're not bad overall). Also, I'm not certain if this question should only be directed to FapTurbo since it's their EA's I'm running or how much is related to what FXCM MT4 is doing. Any insight you have is greatly appreciated!

Thank you!
kpips

[aowardha]

Originally Posted by Jason Rogers FXCM is in the process of setting up VPS for MT4 users. If you have a live MT4 account and would like to beta test the VPS, let me know. -Jason

hi jason. i have a live MT4 account. how can i join the VPS beta test