CHAPTER 4 The Trading Simulator

Opening a practice account can be done by downloading trading platform software to your computer or mobile device or by accessing a web-based platform. In the forex trading market, there are dozens of different trading platforms, each with different features and different ways to conduct trading. Some are web-based; others are installed as programs.

Based on my research on the preferences of individuals in the forex industry, I can safely estimate that more than 55 percent of retail traders throughout the world use one particular trading platform, MetaTrader 4 (more commonly known as MT4). It is not the most advanced trading platform, but because MT4 enjoys such a wide acceptance by traders and brokers, I will ...

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