You need a demo broker account e.g. IG, FXCM, Oanda etc to facilitate your MT4 trades. You can’t place trades using MT4 alone.
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Have you linked up the broker to mt4?
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yes it is written above forextime demo
K cool. Head over to mt4 on your mobile. The very left button at the bottom says quotes. Press that. Choose any currency pair or asset by pressing a bit longer on it. Press on new order.
You then will be directed to the buy and sell page. The default is market execution. Underneath it is the lot size.
Left and right is SL and tp you can leave it empty and buy or sell anyways and input later.
At the bottom is sell or buy.
Can you execute a trade this way?
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Words have power and yours will breed self doubt which will also erode confidence in your analysis, so be careful how you assess yourself.
Try this exercise to get used to using MT4 platform as far as the drawing tools, placing an order, setting a SL and TP. This isn’t meant to be a strategy, it’s just an exercise.
Start with 1 instrument loaded into your MT4 terminal and use 1 time frame for now. Draw horizontal lines at the closest support below the current price and resistance above the current price.
Next draw a horizontal line at the next support level to be encountered if price breaks the 1st support level. Draw a horizontal line at the next resistance level to be encountered if price breaks above the 1st resistance level.
If price comes to the 1st support level you have 2 options
- Buy if price bounces/rejects from support. SL below support. Take profit at resistance.
- Sell if price breaks through support. SL above the broken support. Take profit at the next support.
If price comes to the 1st resistance level:
- Sell if price bounces/rejects from resistance. SL above resistance. Take profit at support.
- Buy if price breaks through resistance. SL below broken resistance. Take profit at the next resistance.
Example: Buying if price bounces from support
Most importantly, don’t beat yourself up too much. We all start at zero when we start this journey and we all walk the path at a different speed. Walk the path at a pace that works for you and don’t worry about keeping up with the 95% of traders that lose money
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@kattyKH, be calm. Everyone of us that has been trading did not understand everything on the trading terminal almost immediately when we first started trading. It is like learning a new song. There is no obligation placed on you to get the lyrics of the song right. In addition to what others have suggested, I recommend seeking out youtube videos on this subject that you struggle to understand.
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I just bought eur usd . I see you were looking at it looks like a buy to me tp 1.10775
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And you ain’t stupid , for one stupid people don’t know there stupid
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Hi @kattyKH, don’t take thing too serious.
Don’t feel ashamed and judge yourself stupid,
In the beginning nobody know how to do it,
And it’s normal for most of us getting nut,
Looking at the dance of the candle stick.
Always be patient and try to have fun,
Set aside your emotion, focus on your aim.
Everyday you will have improvement
Take a deep breath sorting out things in your mind.
EURUSD is good for you to start.
Ask anything here for all of your doubts.
Slowly the vagues will be end out
Then you will realize trading is an art.
have fun !!!
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thank youuuu, any youtube channel you recommend??
It’s normal to feel confused when starting out in trading, and you’re definitely not stupid! Everyone learns at their own pace, so give yourself time to figure things out.
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You’re welcome. There are tons of videos on that you can get with a simple search on youtube, however, I recommend videos by JannaFX for beginners.
AND
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I feel you, katty! When I was starting out, since I wasn’t good at math, I also thought I wouldn’t understand a thing. It took me a while to even get a good grasp of the basic concepts. But take your time. There’s no need to rush! if you don’t understand it, there’s no shame in asking questions or reading it over and over again until you do. And since you’re on demo, you’re free to explore and play around the charts while you’re trying to get the hang of it. We’ll be cheering for you!
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thank you rose I’m really happy coz everybody here are trying to help me and no one makes fun
You’re just in the process of learning, and everyone goes through that. The fact that you understand concepts like ask and bid is a big step in the right direction. We’ve all been there, and it’s totally okay to ask questions as you keep learning.
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I’m the same way. I’m not smart. I wish I was. It’s good to be honest with yourself. If you’re stupid, and can admit it, that’s healthy, in my opinion.
Now, you just have to decide what you’re gonna do about it.
People have given you lots of suggestions and videos, in this thread.
Now, you just gotta go step by step, and try to learn. If you don’t understand something, ask.
There are so many people here who are happy and willing to help.
Also, check out the free lessons here.
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Your question is a little bit confusional? Which broker’s demo account are you using? Are you indicating to your incapacity to buying and selling currencies or understanding all about trading?
It’s completely normal to feel overwhelmed as a beginner. Don’t be hard on yourself; trading takes practice. Start by focusing on a few assets and developing a simple strategy. Use your demo account to practice placing trades based on market analysis. Take your time, and remember that everyone starts somewhere!
