Is the MYFX Console for real?

[barrygeeling]

HI All,

:?: I have recently downloaded a free demo of MYFX console from this site www.mtconsole.com

Can anybody tell me what there thoughts of the console is or if they have used it. I have bought a few programs and I have just started and I feel that this is getting expensive before I even start. I wasted money on two and dont want to do the same. Its says it offers one click executions, etc (bla, bla, bla) for Metatrader. Would this help me? I am learning to trade and am not looking for a signal service but just to try to daytrade so is speed of executions etc important or can I just do it through Metatrader. It just seems to good to be true.

Please post you comment to help me start or PM me.

Thank you in advance for you comments.

Regards,

Barry.

 

[barrygeeling]

Please also send or PM me any help to get me started. I want to take this very slowly in Sim first and then onto real money. Any help is appreciated.

 

[pboyles]

Why don't you just trade through metatrader? If all this platform does is automatically place stops and execute trades I don't see the point of it. What value does it add and what makes it appear too good to be true? As regards speed of execution how could using a third party application be faster than just placing the trade in metatrader?

 

[barrygeeling]

Why don't you just trade through metatrader? If all this platform does is automatically place stops and execute trades I don't see the point of it. What value does it add and what makes it appear too good to be true? As regards speed of execution how could using a third party application be faster than just placing the trade in metatrader?

Thanks for your reply. I just don't know how to place a trade into Metatrader with a pre set stop and target. I am told that going into a postion without a stop is trading account suicide. Please can you tell me if it is possible to go in at market with a pre set stop and target and if so how do I do it. So far the demo does what is says but I think I need to know what I am doing first. Which platform do you recomend and is Metatrader the best one to use.

Many thanks,

Barry

 

[pboyles]

It's fairly simple in most platforms, what I used to do in metatrader was to enter tge trade then immediately go to 'amend order' and enter my stop and take profit. This was sufficient for me so unless you are trading with tiny stops that should do for you too.

Overall metatrader is OK I think. I trade futures nowadays so I have access to other platforms hence I'm not fully up to date on metatrader. When I get home I'll have a look and see how to automatically place the stops as you enter a trade.

 

[Bloodhound]

I haven't watched all of this but it might be what you are looking for.

http://www.viddler.com/explore/TradersChoiceFX/videos/5/

All the best

 

[pboyles]

Thanks for your reply. I just don't know how to place a trade into Metatrader with a pre set stop and target. I am told that going into a postion without a stop is trading account suicide. Please can you tell me if it is possible to go in at market with a pre set stop and target and if so how do I do it. So far the demo does what is says but I think I need to know what I am doing first. Which platform do you recomend and is Metatrader the best one to use.

Many thanks,

Barry

Its simple enough, see my screenshot for details. Basically you right click on a chart and select >trading>new order then you will be able to set your stoploss and take profit levels before you enter the trade. This is from a demo MT4 account I have but the live version should be exactly the same.

 

[barrygeeling]

Thank yor for your replies. I really like this forum. I am going to try this week to see how I go with Metatrader4 and executions. If you have links to education material please post.

Thanks traders,

Barry

 

[barrygeeling]

I will let you know about the console as well. Whether I, a newbie think it helps. But what do I know...lol

Regards,

Barry

 

[barrygeeling]

Just to let you all know the console is now unfortunately run out of demo. I did decide to buy one and I have to say the staff at mtconsole.com were very helpful. For a newbie they set me up with charts, got me a week in a trading room (which paid for the console..lol). Very impressed. Just to also give you the heads up they do a webinar thing to show you how it works. Definately worth attending as half the things I did not know after a week of using it. It can have a manual for people like me and that should be supplied. I did email them to ask. Thanks for your replies again and send me anything that you think would help me in my trading. Thank you.

 

[barrygeeling]

OH.. and ask them for a discount and they will give you one. Call me a cheapie but if you don't ask you don't get. Trevor is the person I dealt with.

 

[MYFXJohn]

I work at MYFX. Thank you all for your comments. MYFX has many benefits for traders.


• Full Trade Management Control
• 1 Click Trade Execution
• Default Trade TP / SL
• 1 Click Break Even
• 1 Click Close Trade
• Close All Trades Button
• See your risk per trade
• Local Time Trade Opened and Minutes/Hours since opened
• Inbuilt Customisable News & Websites
• Account Floating P/L as %
• Account Summary View
• Account Mandate
• Ability to with 1 click enter a trade with a default stop loss, take profit, multiple partial closes, set your stop to breakeven at a predetermined level, and also have a trail active •


In saying that I appreciate that you want to get value for money. If you visit www.myfxconsole.com you will be able to a) see a video on installation and usage, and also you can take a free trial for 21 days.

I hope this assists to answer some questions.

John

 

[Forexuco]

I work at MYFX. Thank you all for your comments. MYFX has many benefits for traders.


• Full Trade Management Control
• 1 Click Trade Execution
• Default Trade TP / SL
• 1 Click Break Even
• 1 Click Close Trade
• Close All Trades Button
• See your risk per trade
• Local Time Trade Opened and Minutes/Hours since opened
• Inbuilt Customisable News & Websites
• Account Floating P/L as %
• Account Summary View
• Account Mandate
• Ability to with 1 click enter a trade with a default stop loss, take profit, multiple partial closes, set your stop to breakeven at a predetermined level, and also have a trail active •


In saying that I appreciate that you want to get value for money. If you visit www.myfxconsole.com you will be able to a) see a video on installation and usage, and also you can take a free trial for 21 days.

I hope this assists to answer some questions.

John

Yes , Metatrader is not the most friendly trading software , but it is very flexible.
With MYFX can I use some boots or custom indicators like this ( http://www.forex-2u.com/ ) ?
It is important for me ...
Thanks !