MT4 traders thread, any MT4 traders here?
ITT: We post our templates and picks.
My latest and greatest is short the USD against NOK, GBP and CHF primarily.
>>984876
>trading mt4
>getting ripped off on 100% of your trades
>even if you put in a limit order
>>984882
What do you use? I've never had the spot missed by more than a spread using MT4 so I don't mind.
>>984890
actually i don't even fuck with retail forex anymore. no retail forex brokers I trust anymore.
>being okay with getting ripped off an entire spread
You do realize that greatly diminishes your edge, right? Mathematically, you're going to need a stronger edge, which I'm sure you don't, as I'm sure you don't even understand what I'm talking about.
>>984898
>You do realize that greatly diminishes your edge, right? Mathematically, you're going to need a stronger edge, which I'm sure you don't, as I'm sure you don't even understand what I'm talking about.
I'll admit it's a casual hobby to me and being adept at it makes that slight disadvantage easy to overcome. The way I operate renders the loss less than a 10% cut into my gains, that amounts to only a portion of the capital gains tax rate.
>>984914
>im okay with being ripped off
You are a fucking bitch.
>>984898
this, massively
most people don't kow what an edge is, don't have an edge and seem to think they've got some knack at predicting the future with their magic charting methods without seriously quantifying whether they're able to
positive variance, beta... is mistaken for skill, patterns are seen in random noise
that isn't to say that markets are efficient, there are inefficiencies there to be exploited but the actual edge they present is often relatively small - if you're getting slipped on your orders occasionally and are forced to cross the spread on every order then you're probably giving up most if not all of the edge you may have got if you'd even attempted to exploit a legitimate inefficiency
in reality most people aren't even doing that, they're just kidding themselves thinking some basic technical analysis is giving them a legit framework from which to make decisions - when they win money through luck they suffer from confirmation bias, when they lose money they tend to blame some other factor - 'psychology', 'money management' etc... rather than the main issue that they've got no edge in the first place and are playing a -EV game
if you play roulette in a casino then no matter how you structure your bets you're still going to lose in the long run, whether you're straight betting or using a martingale system - you're merely changing the pay offs, it is still the same -EV bets and they will fail in the long run - that, essentially, is what most retail traders are doing - they're just placing different varieties of -EV bets.
>>985367
That's a 5% cut into a 100% gain, that's an immaterial difference. I'm not scalping, those 5 lots were intra-day and amount to about 1% of my capital allocation - they're my coin tosses. The spread difference is hardly anything compared to my t/p difference on the rest, I aim for 20+ spreads and I rarely take losses, the swing accuracy on my core positions are well above 50%; it's is no coin toss method.
>>984876
>forex thread on /biz/
>immediately flooded by shitters who are angry they can't make money off of it
this place is so toxic lmao.
>>985669
angry shitter getting all uppity like a little bitch when nobody mentioned him specifically detected. what a limp dicked attempt at damage control. fuck off back to reddit squirt LMAO.
>>985669
>turns on his trip
>no one knows who the fuck he is
>>985674
>>985675
The dollar index will go up to 120. At least. This is because of the rate hikes that will happen, as they've been getting priced in. Now, a little thought required: Why are these hikes going to take place?
You don't need technicals to trade, nor do you need to trade currencies on a forex broker. Just trade currency futures, instead. Trying to neutralize your risk in forex requires multiple positions, most of which you'll be paying interest on. Then again, I'm sure both of you understand how to neutralize risk.
>im a fucking idiot that doesn't know what he's doing
>>985690
Or you could simply exploit currencies just by buying your stocks/funds from the continents using the rising currency kek. However if you buy just one stock you need to make sure the rising dollar and weakening euro wont effect company's sales numbers too much. But in general, dollar alone increasing 50% to euro in 2 years, jezz, this is how you make most of the stock market.
>>985639
get a large sample size and take a look at your trades properly - the spread should represent a huge cost - no one has an edge that large.... well if you genuinely do then you'll soon become the richest man in the world but it seems rather unlikely
