Questions from Beginners MQL5 MT5 MetaTrader 5 - page 1532

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MrBrooklin #:

Counter question: are you interested in currency market or exchange for buying/selling shares, oil, metals, etc.?

Regards, Vladimir.

On this moment just currency markets 
 
Johannes petrus Cronje #:
At the moment only foreign exchange markets

Then you need to find a trustworthy/honest broker and ask him about the minimum deposit conditions. I don't know how to trade without a broker.

Regards, Vladimir.

 
MrBrooklin #:

Then you need to find a trustworthy/honest broker and ask him about the minimum deposit conditions. I don't know how to trade without a broker.

Regards, Vladimir.

Thanks
 

Good evening, everyone!

Thought I'd thoroughly lay out how the opening of any position ultimately plays out. Here are my thoughts:


According to the documentation on the MetaTrader 5 website:

Anorder is an instruction for a brokerage company to buy or sell a specific financial instrument (in our case, a currency pair).

Atransaction is the very fact of buying or selling a financial instrument.

Position is a market commitment, the number of bought or sold contracts on a financial instrument.

In simple words, the following sequence of operations for opening positions or setting pending orders: order --> transaction --> position.

Let's take a closer look at the general scheme of trading operations:

  1. From the trading platform installed on the trader's computer, an order (instruction) is sent to the server of a brokerage company (forex dealer, dealer centre, etc.) to make a transaction with one of the two main types of orders: market or pending;
  2. The server checks the order for correctness (correct prices, availability of funds on the account, etc.);
  3. The verified orders are waiting for their further processing on the trade server. Further the order can be:
  • executed (in one of the automatic execution modes or by a dealer);
  • cancelled after expiry of the validity time;
  • rejected (for example, in case of lack of money or absence of a suitable offer on the market);
  • cancelled by the trader himself;
4. If a trader (or advisor) has sent an instruction (order) to the brokerage company's server to execute a market order, then a position will be opened for the corresponding financial instrument after the trade is executed.
5. If a trader (or advisor) has sent an instruction (order) to the brokerage company's server to execute a pending order in the future, the pending order will be set for the corresponding financial instrument first, and then, when the current price reaches the price level specified in the pending order, only then a new position will be opened after the trade is executed;
6. If there is an already open position on a financial instrument, the result of the transaction may be an increase or decrease in the volume of the position, its closing or reversal.


Question to everyone: did I understand everything correctly in the process of opening positions or is there some inaccuracy somewhere?

Regards, Vladimir.

 

I have a doubt about point #1 of the previous message, namely, instead of the phrase "... with one of the two main types of orders: market or pending" it should still sound like this - "... by one of the two main types of orders: market or pending".

Is my doubt correct?

Regards, Vladimir.

 
Johannes petrus Cronje #:
Because I am from South Africa and want to start trading but not making much money.

Depends on leverage and other factors, read the broker's agreement carefully,

and look for the top 10 and go through them, it's important to make sure that the broker has to operate in your country,

otherwise you will not be able to withdraw money, or the broker must be international, it is also important what instruments you want to trade.

Good luck!

 
Oleg Kubenko #:

Depends on leverage, and other factors, read the broker agreement carefully,

and look for any top 10 and go through them, it is important to take into account that the broker should work in your country,

otherwise you will not be able to withdraw money, or the broker must be international, it is also important what instruments you want to trade.

Good luck!

If the broker does not work in your country, you will not be able to register and even more so to top up your account.
So you will not be able to withdraw your profits.

 
Hello everyone. Can you tell me why some brokers have all sorts of bonuses available only for mt4, for example, bonus on the first deposit only for mt4, although you can trade on mt5. A long time ago I once heard such information that mt5 itself is much better protected for users in terms of that the broker can't draw charts or candlesticks and knock out stops when he wants, and in mt4 it is possible... or is it nonsense, then what is the reason for brokers' reluctance to work with mt5?
 
AndreyTreid #:
Hello everyone. Can you tell me why some brokers have all sorts of bonuses available only for mt4, for example, bonus on the first deposit only for mt4, although you can trade on mt5. A long time ago I once heard such information that mt5 itself is much better protected for users in terms of that the broker can't draw charts or candlesticks and knock out stops when he wants, and in mt4 it is possible... or is it nonsense, then what is the reluctance of brokers to work with mt5?

Brokers and brokerage centres are not discussed on this resource

 
Alexander Sevastyanov #:

If the broker does not work in your country, you will not be able to register and the more so to replenish your account.
So it will not come to withdrawal of profits.

Why would that be?

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