Looking for Advice on Trading Platforms

Questions
1

Where did you experienced traders learn your trading platform

I’m checking out Oanda with Mt4. But honestly, when I open it up, I feel totally lost with all the buttons and toolbars and terms that I thought I knew

Where did you pick up how to use these different platforms

2

Try using a demo account and play around with it. You’ll get used to the platform over time. I switched to MT5 and found it easier and more user-friendly compared to MT4.

3

Blayne said:
Try using a demo account and play around with it. You’ll get used to the platform over time. I switched to MT5 and found it easier and more user-friendly compared to MT4.

I got MT5 but didn’t see anything about it on Oanda’s site. Maybe I missed it. I hear it’s better for EAs and has a nicer interface.

4

@Merrick
Some brokers only use MT4, but there are quite a few good ones that support both.

5

Blayne said:
@Merrick
Some brokers only use MT4, but there are quite a few good ones that support both.

What broker do you use if you don’t mind me asking? I initially checked out TastyFX and found it pretty easy to use. Then I tried Oanda, which felt a bit more confusing. I’m trying to figure out trading with mt4/5 on Oanda or TastyFX. It’s really tricky for newbies. I’m getting some practice with the School of Pips before I move on to anything serious. Right now, just playing around with demo accounts.

Thanks for your insights

6

@Merrick
I’ve been with a few brokers. It’s good to research. IC Markets has treated me well. Just look for one with decent spreads and leverage too.

7

@Merrick
For US traders, many brokers stick with MT4. I think it’s something to do with regulations. Not totally sure.

But you can find MT5 Crypto brokers in the US pretty easily.

8

Zephyr said:
@Merrick
For US traders, many brokers stick with MT4. I think it’s something to do with regulations. Not totally sure.

But you can find MT5 Crypto brokers in the US pretty easily.

Trading.com is regulated in the US and supports MT5.

9

@David
Good to know. Thanks for sharing.

10

A quick search for my platform definitely pulls up a lot of links… But is there any resource you think is especially good

11

You really just need to know the buy, sell, stop loss, and take profit functions. Plus limit orders. That’s all you need.

12

Lyle said:
You really just need to know the buy, sell, stop loss, and take profit functions. Plus limit orders. That’s all you need.

Haha okay that sounds pretty straightforward. Thanks for the tip! Keeping it simple seems like a good idea.

13

It takes years of practice to really get it down. You can’t skip the hard work part.

14

Just like they say, open a demo account to practice, you’ll feel comfortable within a week.