Getting started with MetaTrader - some questions
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Hi there
I am getting started with MetaTrader. I have many great things to say about this software. It is highly comprehensible and seems easy to access.
Personally, I am new to Forex trading and have some basic questions. Searched, but didn't find any threads on this, so please forgive me as I pose some really newbie questions.
OK. So I downloaded MetaTrader 4 (Build 222). I would like to get started with some trading (lightweight, and demo first to test it). I know I need an online broker that connects to the platform. I found out that much. I chose Fastbrokers from this list because they use the MT4 platform, fairly high rating, have easy online account opening and do Paypal transfers (I am in Scandinavia). Was that an OK choice?
1) Now my question is, what do I do now? I would like to connect my MT4 software with the demo account I opened at the online broker (currently MT4 runs some demo account itself with 3000 USD). I would like to try it out, so MT4 connects to my broker to learn about that part of it. And maybe do some demo trades from MT4 into that demo account at the broker. How do I do that - practically?
2) Later, my plan is to invest in a good EA that handles a small initial investment like 500 USD and go demo with the broker and let it run for some weeks. Any advice where I should start findes that EA?
3) My third step is to then go live with the small investment using the same broker.
Any help appreciated. Or advice if my strategy is right for a beginner.