You can display your balance account by clicking on the Trade accessible in the Terminal. Moreover, you will see all open trades here as well. This is where you will spend most of your trading time in the MT4 terminal. Although MetaTrader 4 trading has four charts, as a novice, you only need to start with one.

Click on the corresponding Toolbar icon to magnify the charts in tiles or to organize multiples of them. You can right-click on the preferred asset in the MarketWatch area and choose the Charts Window to open a new chart. MetaTrader 4 will then add the chart and display it at the bottom of the Chart Workspace section without fail, as indicated in the red rectangle below. Place the cursor within the chart and right-click. Once you see a dialogue box, select the properties or press F8 to simplify the process.

A property window that pops contains Common and Colours. With these properties, you can create and customize your chart. Try to experiment with various options and choose the style that best suits you. The window that appears consists of common colours. Create and customize your chart using these properties.

Again, experiment with different options and choose the style you prefer with properties containing common colours as well. In our guide, we will refer to the layout customization image below. Right-click on the chart to save it. Click on the Template and proceed to the saving option.

Save the Template in the folder you had previously chosen. An important reminder is to save the template to Default. This way, you can access the template automatically when you open a new chart.

To go back to default MetaTrader 4 trading settings, click on Reset. During your operations on MT4 charts, you will easily want to analyze your assets efficiently. Therefore, you need Hotkeys and Toolbar to facilitate your navigation. For fast adjustments during assets analysis, items like Timeframes, Tables, and Line Studies come in handy. While using MetaTrader 4, look at these elements closely. At the table, traders can customize the visual display, access indicators list, select timeframes, zoom, shift, handle guides, as well as arrange their assets.

You can opt for crosshair, other than the default cursor. This way, you can easily pinpoint by gauging the stretch between the two charts. To highlight the endpoint, left-click on the mouse and long-press. On the display, you will see the number of candlesticks, last value, and pips distance. Line Studies also help when drawing horizontal, vertical, and tradelines, as well as labelling charts, and adding Fibonacci Retracement sequences.

On the Time Frames, you can access nine and operate through them without a hitch. Besides, with your MT4 account, you can get a number of them on different charts. Take advantage of the free MT4 demo account. After all, practice makes perfect so keep on experimenting to polish your skills. The Toolbar will avail hotkeys and other functionalities.

Hotkeys are important in modification of the charts and speeding up your navigation. Additionally, the more you analyze various assets, the more you will appreciate the task. Below are some hotkeys from the MetaQuotes website. First off, you need to understand the foundation of assets analysis with indicators and order placement.

You can do this through a bunch of technical indicators available. While some are placed directly into the chart, others go below it. You can easily access the indicators through the Menu setting by choosing the Insert option. Another alternative is to use Navigator, as marked with the red rectangle below. As shown in our example, we have selected the Commodity Channel Index. You will see settings in the dialogue box popping out for every indicator you choose.

Click OK to add the indicator. We have drawn the Fibonacci Retracement Fan sequence using an identical tab from the Toolbar. Take a look at it. Also included is a Simple Moving Average indicator. If you decide to delete the indicator, just right-click on it.

A prompt similar to this will pop up:. Knowing how to place trade orders is quite easy and you have four options to choose from. Though you have access to advanced trading options in the order windows, the best pick would be the one-click trading choice.

To place orders, you have three available alternatives. Click on the New Trade option in the Toolbar marked in red, on the MarketWatch on the selected asset, or press F9. Again, you can click on the triangle orange square near the asset name. The main differences between placing an order via the order window and through a single-click trading icon are that in the former, you can initiate a stop loss and take profit and also leave a comment. MT4 account also allows you to place pending orders.

Simply change the Type red , and then you will witness a change in the order window, after which you can choose the order type and the price level orange. Click on Place to display the pending order in the Terminal green. You can delete the order when you click the X button blue. As you can see in our case, the Market moved fast and triggered our pending order. See the snapshot to get an in-depth understanding of each type of pending orders as listed on the Meta Quotes website:.

After executing your market order, a confirmation is sent to you, and the position shown within the Terminal red rectangle. The central part of your trading activities is portfolio management. You can execute it from the Terminal icon in the Trade and Account History tab.

If you want to close your active trades, you can click on the x button red rectangle. Because it is your first-time trading, you will see a confirmation pop up to confirm if you would like to go ahead to shut down the trades or not orange rectangle.

To customize open positions double-click on the order you wish to modify in the Terminal. You will then see an order window displayed. Flicker to the Type option and click on Modify Order red. You can then reshape your order orange by adding stop-loss and taking the profit. You can accomplish this by choosing the distance in pips or picking the price on Level , pressing Copy as , and then completing with Modify.

As shown in the image below, you can see the updated stop-loss and take profit levels red rectangle. Hover on the Account History tab found in the Terminal red rectangle to display and view all the details of the closed trades.

In the image below, we closed the open trades, hence unshaded manually exited trades. We closed the positions through stop-loss and we shaded the take gains in red and green, respectively. Some of the steps used in this tool include:. You can check out the free samples the platform comes with, the MACD, and Moving Average. Click the Free tab to access the featured free EAs. We found the Trend Scalp EA here :. Proceed to the Download button and click. You will see the site ask whether MT4 was successfully installed on the computer, and another prompt to launch it, which automatically adds the EA.

Step 4: Configure other parameters, for example, changing the symbol, analysis method, date ranges, expert properties, etc. Step 5: Select the Start button once ready. You may also view optimization results, graphs, results of various trades, etc. Taking partial profit in MT4 only takes three steps:.

Step 1: Double click the open trade from the terminal to launch the Order execution window. Step 2: Change the Volume. For instance, if the volume was 1 lot and you wish to half the position, change the value to 0. Traders and brokers have compared MT4 to every other platform released since it. Despite MetaQuotes being a pioneer, its products are nowhere near out-of-date. Traders formalize their trading strategies turning them into trading robots that trade automatically!

By offering so many great opportunities, MetaTrader 4 has become the most popular Forex platform. Download the platform, open a demo account and try it! Download MetaTrader 4 and start trading in Forex. Trading Platform MetaTrader 4 Download Forex Trading and Orders Technical Analysis Alerts and News Virtual Hosting VPS Web Trading Automated Trading Expert Advisors and Indicators Where to Get a Robot or Indicator MQL4 IDE MQL4 Programming MetaEditor Strategy Tester MQL4.

The Foreign Exchange Forex Market Forex is a global currency trading market surpassing all other financial markets by its trading volume. Trading Platform Mobile Trading Market Signals Automated Trading Download For Brokers Company Legal MetaQuotes is a software development company and does not provide investment or brokerage services.

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Technology advancement has revolutionized how investors buy and sell securities such as stocks, forex, and more. In today's fast-paced marketplace, more and more traders are always looking for the most efficient way to buy and sell securities. One of the most common ways is through a trading platform.

Trading platforms are software programs that allow and simplify the process of trading securities such as forex. Over the years, there have been many trading programs which you can choose from. However, due to the many options available, it can be hard for a forex trader to choose the ideal platform for trading.

One of the trading platforms, however, has been so popular in the last few years. Enter MetaTrader 4 MT4. This article discusses what you need to know about MetaTrader 4 platform. Hence, you'll be equipped with the necessary know-how before you download MetaTrader 4 MT4 for your trading purposes. Also called MT4, MetaTrader 4 is a widely used electronic trading platform. The platform makes it easy for investors and traders to open, close, and manage market positions through the financial mediator.

MetaQuotes Software developed MT4 in It was given the purpose of trading in foreign exchange, contracts for differences, future markets, and more.

As a forex broker , you can use the platform to manage and initiate advanced trading operations while analyzing the financial markets at the same time.

Hence, you'll have the necessary skills before opening or closing a trading transaction. As mentioned above, MT4 has become a popular trading platform over the years.

The following are some benefits of using it as a forex trader. They include:. Technology has played a huge role in revolutionizing the trading industry. Now you can close a deal with an investor, regardless of location. However, this may also expose you to some serious cyberattacks.

Any security breach may compromise your finances, identity, and other sensitive data, affecting the value of your whole investment.

However, Meta Trader 4 is a very safe and reputable application for various trading. It uses advanced security solutions such as digital signatures to protect its users. It also utilizes encryption systems to protect the data transferred between servers and traders' devices. With these highlights, rest assured that your accounts, including finances and sensitive information, are safe from security breaches.

This is another benefit of the MT4 trading platform. Usability is an important aspect when it comes to trading platforms. A complicated interface might make it hard for traders to navigate, affecting their trading experience. Although MT4 has many features and tools, it's quite easy to use. The intuitive interface makes it easy for traders to navigate around without experiencing any issues.

Because of the user-friendly interface, MT4 can be ideal for both newbies and experts. This is because it's easier to access all the crucial and technical analysis data to make informed decisions. It also has highly customizable charts for beginners to find patterns and develop strategies. Despite the many benefits of this trading platform, there are still some challenges you might encounter.

One of the challenges you might encounter before using the MT4 trading platform is its installation process. Downloading the platform can be time-consuming, which might affect your overall productivity. Additionally, you'll be required to download extra fonts to keep the program running effectively. However, you can simplify the installation process by ensuring you have all the necessary knowledge.

Conduct extensive research to identify what requirements you should meet, such as operating systems, guaranteeing a smooth installation and configuration process. Traders can utilize expert advisors EAs features to implement automated trading methods. This feature allows investors to take advantage of market movements without any intervention and reduce human error.

However, this might not be true if you use a web platform. Although it's convenient and readily available, it doesn't have EAs, which could affect your trading experience.

You can easily download and use a demo account for free. The demo account allows you to test out the platform using virtual funds. However, you'll need to choose a brokerage and submit your application to open a live account. Once the application is accepted, the brokerage will share login details, allowing you to use the program to trade using your own money.

Therefore, the fee structure will depend on the brokerage you work with, which might vary from one vendor to another. Technology has revolutionized how investors trade their stocks and forex through trading platforms.

One of the trading platforms, MetaTrader 4, has been a popular program for many years. However, before using the platform, ensure you have the right skills and know-how to simplify the trading experience.

Sponsored by. BACK TO ARTICLES The Pros And Cons Of Using The MetaTrader 4 Forex Trading Platform. Close X.

On the other hand, to open a live account in MT4 takes some extra steps, your broker will request more information. After all, practice makes perfect so keep on experimenting to polish your skills. Once it is placed you can click it and move it around as you need. To insert Fibonacci retracements in a chart, you can click the Fibonacci button in the line studies toolbox and then extend it in the chart by clicking the starting candle of the trend and dragging the line until the highest or lowest price level of the trend:. In contrast, if you would like to sell the currency pair, the order will be placed at the Bid or lower price. Trading Platform MetaTrader 4 Download Forex Trading and Orders Technical Analysis Alerts and News Virtual Hosting VPS Web Trading Automated Trading Expert Advisors and Indicators Where to Get a Robot or Indicator MQL4 IDE MQL4 Programming MetaEditor Strategy Tester MQL4. Enter your email below:.

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