Journal Entry on the Functionality of the MetaTrader 5

Case Study Instructions:

1. Download MetaTrader 5 (app or program). Setup a $100k demo account. Place at least one currency pair trade. Follow the trade for a 24 hour period. MetaTrader 5 User Help (https://www(dot)metatrader5(dot)com/en/terminal/help). Download app Tradays for the events calendar.
2. Write a brief journal entry. Start with the date, time, pair(s), amounts...etc. How you went about your decisions.

Fundamental Analysis? Technical Analysis? ...Both? Any particular analysis tool(s)?
Any world calendar, events?
What were the pair(s)? Why that pair(s)?
What was the outcome of profit/loss?

Prepare to present and discuss your decisions. You can do as many trades as you like but do at least one trade.

Case Study Sample Content Preview:

METATRADER 5
Author
Affiliation
Course
Instructor
Due Date
Trading Journal
On my demo trading, I traded the Euro/USD pair. I took a short position at 1.1100 and held on to it until the price was 1.1001. The trade resulted in a profit of close to 100 pips. I approached my trade by making fundamental and technical analyses.
In my technical analysis, I analyzed the price movements over the past few days, including months. Ideally, I started with the largest timeframe, the monthly charts. The monthly charts provided the overall direction of the market. I did the same in the weekly timeframe by just looking at key support and resistance areas. Overall, the market trend seems bearish. The daily timeframe also helped me decide entries and probable positions for profit-taking and capping my losses. Besides studying trends by observation, I used technical indicators. Two indicators came in handy; the Bollinger bands set at 200 periods and the 50 moving averages. With the use of Bollinger bands, I was able to see the latest market's highs and lows. These indicators helped me make a fair guess of where the market was headed next by switching between the 4-hour t...

Updated on January 26, 2024

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