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Well both are different and have some differences, the other major differential design factor was its compliance with CFTC's no hedging rule, which states that clients of Forex brokers in US must deal on first in, first out rule basis. So in short, MT4 offers hedging in traditional sense while MT5 is not.

@elyas Yes that is totally right to be a successful trader there is no shortcut, all through pain of loss and joy of win a trading. If you want to make a successful one, make sure to choose one strategy you find suitable for you and work on it every single day in demo account. I can say extensive training in demo account.

Then if you want to trade with a preparation make sure to make analysis carefully first and then apply a strict risk management because if you lose your money you wouldn't lose a lot and still able to survive. In long term, risk management become more serious and if you want your trading become more profitable as newbie, you should trade with long term mind.

Not so easy but not so hard. It is quite hard thanks to the uncertainty of the market, even actually we can see the trend is good it could make some reversal. If you want to made for as your business to pay all the bills you should treat it like that. Make a living in forex is not easy, but as long as you have good RM you don't have to worry about margin call.

Trading could mean training, since we get more flight hours to trade and based on my own experience we don't need to trade everyday. Let split up trade where it is solely to train and to make money. What you don't need to do everyday is trading for earning in real account, for learning you can do that everyday and it should be in demo account.

Logically for someone who have good mentals they won't have any problem which related to foreign exchange. The mental you have probably won't ruin your activity as trader instead it will help you to stabilize your emotions since forex is full with uncertainty and may disrupt your emotional state.

Stop Loss is important it is act as the lowest level of loss you can tolerate, it acts automatically leaving you from the duty to keep watching the market every single seconds or minutes. I still recommend to put 2:1 ratio for your TP:SL ratio. It is a good risk management and make you more flexible.

A risky business which for some people have a border line with gambling. Since the volatility in foreign exchange and its speculation nature makes it resemble to gambling that we know. It is a problem if people see it as real gambling or just a simple money game because forex is actually pretty much legit and we can maintain the profit too.

Well relying on forex alone is not a bad idea, there are a lot of traders who still able to feed their mouth every month. To me it is the matter of diversification. If you weren't good enough with manage the risk it is better to have more than one alternative business such as stock or even investing in real gold bar as hedge.

@alwiandesta If we don't do that there are bigger possibility that you will easily succumb to lose. In my own opinion, trading couldn't be without emotion but to control it is what the important thing here. Calm doesn't mean that we trade without emotion it is that we are trying to control the risk from psychological perspective.

Basically to make profit in forex it is quite hard. It is not easy to predict the market with lots of uncertainty. Not to mention, there are a lot of people who love to speculate and play the price even in short term could drive the price further. What you need is a good risk management to control the loss and making money will be easier.

It is pretty much normal for newbie, even for some experts their fear of losing the money during transaction is exist and that fear which sometimes hold them back when they trade. Fear is fine as long as you able to regulate it, by able to regulate your fear then you can use it as tools to lower the risk of become a risk taker.

You see the latest part is right, a lot of brokers supported MT4. It is a clear thing that Metatrader 4 is the winner. I only see some reputable broker which support metatrader 5 while metatrader 4 is available in honest broker to dishonest broker, from dealing desk broker to non dealing desk one.

You can get it too but too tedious job isn't it? Spend your time everyday to make profit and keep doing that constantly is not an easy thing to do but i am sure there will be at least once in a year you lose. Since forex market is unpredictable the market itself may "allow" us to earn profit daily but in other time it is not.

Who is you on that context? Broker or Traders? Well dealing desk in fact where the market is against us so conflict of interest will always exist no matter what and it is up to the broker to deal with this situation since they are the one who oversee their own market, but usually well regulated dealing desk won't do manipulation is such cleary situation.

It needs lots of patience to be a good trader and to get a consistency for profits. Trading in foreign exchange could be so hard for traders who don't know anything or small things but as you know more and gain experience you can cover yourself and earn consistent profit. It may seems like boring and risky but it is worthy for long term.

Stop-loss orders are traditionally thought of as a way to prevent losses thus it's namesake. For the security in your account it is better to utilized it to the core, since this feature is for free and pretty much accurate. Here, the stop-loss order is set at a percentage level below, not the price at which you bought it, but the current market price

If you want to be a successful trader just in one night or few weeks it is better to forget it. There is no shortcut this way, you better trade step by step and gain experience also make sure to apply all kind of strategy you have to see which one is more suitable for you. If you can do that i am sure in one year or a bit more you will see the result.

Well the simple answer is absolutely possible to make a living from forex trading. But it’s not easy. It won’t be a get-rich-quick scheme either. Anyone who tells you otherwise is lying. Next, not a lot of people are making huge gains in the forex market. In fact, it is just not easy to make consistent profits in forex where around 70% are losing their money.

Instead of watching experts' advice and others, traders can collaborate with peers with the same interests, exchanging mutually beneficial trading related information. This one approach is copy trading, whereby “Leaders” publish live trades that “followers” copy. So basically you copy your leaders trading information from SL to TP.

Most disciplined Forex traders use stop-loss. SO that is a signal that discipline in forex is important since it helps to lower the risk. Before opening any positions, you should know exactly where you will place your stop-loss. Once you set this up, you should never lower it to keep a position open. In long term discipline will help you a lot.

Well the answer is actually pretty much simple for this case, whenever active trading markets are almost always better for traders, whether you are trading on the Forex, the NYSE or any other financial trading market. But for Forex traders volatility is what we are looking for. As a result of the nature of FX itself we can find such one of the best. You can try NY session, London session, Tokyo Session, or even Sydney session.

Well if you consider carry trading technique or what some people refer as trading balance then you miss it. There is actually a chance to lose but that is more like human error. Something like wrong click and so on. Forex trading without loss is possible but the problem is the profit way much lower compared to conventional trading.

The importance of finding a credible and experienced Forex mentor can not really be emphasized enough beside of that there are 2 things in my mind about these. Forex Mentors can reduce failures. Second, Mentors build confidence for traders since they don't have to face much much uncertainty thanks to their experience mentors.

Money management if you able to put it in the right place it will give you more chance to grab more money rather than to lose it. You may lose 2 times than what you expect, but once you make profit you will be able to cover the loss or even gained a small amount of profit.