The foreign currency exchange market is currently the largest financial market in the world. There are multiple ways to invest in this market and each requires an amount of research to buy/sell every single penny profitably. Although demo accounts provide an alternative way to learn live currency trading, experience gathered from the real world with real money is priceless. Apart from serving as a platform for currency trading, Forex MetaTrader 4 provides an excellent way to learn about this trade and market movements.
Demo account uses virtual money. Only after a considerable amount of practice to the demo account is it advisable to go live and trade with real money. However, before you go on to carry out your analysis and invest money, use the MetaTrader terminal 4 forex platform in the following way to learn more about this market.
Automated trading in Forex MetaTrader 4
This runs an algorithm to automate your trading. In other words, you are required to place a buy/sell point on a particular currency’s market quote and the software places the order without your interference. Then again, it’s your decision regarding the entry/exit point placement and this requires intuition.
If you are coming in after some practice with a demo account, you may certainly have some idea about such placements. Still, a further practice won’t hurt, and this is where you use copy signal trading. Combined with automated trading, this provides a perfect way to gain further knowledge about market movements and how experts trade in this financial domain.
Why copy a trading signal?
One simple reason – you can follow and learn from an expert trader. MetaTrader terminal 4 forex lets you copy the whole trading signal into your account. This way, all your trades will be carried out according to the buy/sell points of that signal, and you may learn about timely order placements. Apart from this, you may also gain knowledge about:
Technical indicators –
These signals come with that perfect combination of indicators placed in your charts. This has always been a worrying question for all new traders that which oscillator to use with which indicator. With copy signal feature in Forex MetaTrader 4, you learn about its technicalities and ways to interpret them.
Market movements –
Any expert will tell you that you can profit from a falling market as well. The simple fact that almost all financial market follows some pattern will let you learn more about future market movements. Say, a market is falling and the signal you copied made a sell here and repurchased the currency at some other point when it was still falling. This was later sold when the market appreciated. Such tricks and tips you can learn using copy signal trading.
Then again, if you are not happy with your returns from a particular signal, you can always reverse the buy/sell points in the signal that you just copied. This way, you follow the footsteps of a veteran and learn further about currency investment. Hence, delve deeper into Forex MetaTrader 4 and use all its available features to its full potential.
Put in real money and go live now!
The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteForex. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC.