The Basics of Using MT4

MT4 is an online trading platform that is spontaneous and transparent. Traders use it to guess the values of the global stock markets. It involves forex, funds, indexes, commodities, and also cryptocurrencies.

Since users could build their automated trading strategies through this platform, it became popular. And since then, it has been one of the most robust sites for automating the trade on the market.

It was initially established in 2005 by MetaQuotes and is licensed to allow you to trade with it. The app enables you to position orders and tracks your accounts with live pricing and charts.

How to Use Metatrader 4

There is a vast library of metrics on the platform; practically, you’re not going to need them all. You probably won’t even need 10%. But if you like them, they’re there. They are created and spread by the MT4-using global group.

To configure the graphs, trade a variety of lot sizes, and trade a range of resources, you can use MT4.

You may also use it to build your automatic trading strategies and use them. For you, let it do the job.

Opening an account – First things first, an account is required. It can be a prototype or live, but to get started on MT4, you’ll need one. You can get your login information for MT4 once you’ve built an account.

Deposit funds on your account – To start selling, deposit funds from a credit card, e-Wallet, or bank transfer.

Begin trading – Trade on every laptop or web server, like PC, Android, iPad, and iPhone.

MT4 download

You’ll need to download MT4 until your ATFX trading account is available. It can be found on most computers, including desktops, notebooks, smartphones, or tablets. Log in with your ATFX credentials after installing MT4.

Choose the Markets

Several markets can be exchanged via your MT4 platform; FX, stock indexes, securities, and individual shares. Bet-and-trade CFDs may also be spread.

Select ‘View’ to find the list of instruments, then click ‘Symbols’ or the quick key is ‘Ctrl-U.’ A selection of icons that you may apply to your market watch window can be seen here. Then you move the icon down to the chart and look at the price chart you like.

Configure the charts

MT4 comes with several resources that enable you to customize your trading charts and personalize them.

On the map, you can draw objects. You should arrange the charts to be simple on the eye; this can be the sort of color or map. At once, you will have several charts available.

Add Indicators

To your MT4 charts, you should add markers. MACD, moving averages, pivot points, the stochastic oscillator, and Bollinger bands are common indicators.

Only drag the trading-indicator from the navigator window and drop it on the map to connect to your charts. A pop-up window can appear where the metrics can be customized.

Using the menu bar, you may even install indicators. Select Enter, select the indicators next, then choose them from the drop-down screen.

Right-click in the map window to edit or withdraw an indicator, then pick ‘List of Indicators.’ A new window shows a list of all of the chart’s functioning indicators. Pick from the chart, press Edit, or uninstall to configure the indicator settings.

Set up alerts

It is easy to set up a price-alert. At the bottom of the screen, open the Terminal window by pressing CTRL+T on your keyboard and clicking the ‘Alerts’ tab.

Right-click in this browser, pick ‘Build’ from the toolbar, and the warning editor window will show the price alert you have set.

If the price hits a certain threshold or selects a particular time warning, you can create a price movement alert for a market within the price alert window. You should pick the ‘Expiry’ period, which is the date that the notice expires.

Click ‘OK’ to fill out all the appropriate warning details that you want to set, and the alert is ready. The updates you’ve set up are mentioned on the Platform Alerts page.

Take trade offers

To perform a trade, go to Tools and select New Order. You can also press F9 on your keyboard when the order window appears.

Managing trades (stop loss and limits)

Click ‘View’ in the toolbar to open the terminal window to monitor your trades and pending orders, then pick ‘terminal.’ The exchange tab is where your locations and orders can be found. By clicking on the X on the right-hand side of the benefit column, you can close positions or erase pending orders.

Open the terminal window and find the exchange tab to change stops, restrictions, and pending requests. Then right-click on the location you want to edit or the pending order you want. Click ‘Modify or Remove Order,’ and the order window would appear.

You then get choices for your role to change or incorporate stops and restrictions. Once done, press the red update button to validate your adjustments.

Trading history

Your trading records can be found in the terminal window’s ‘Account History’ column. By right-clicking and selecting from choices, pick your date range: all background, past three months, last month, or custom era.

Leave a Reply