MetaQuotes developed a trading platform called MT4 in 2005. Traders may use M4, also known as MetaTrader 4, to trade indices, cryptocurrencies, and commodities. They can also trade through contracts for difference and foreign exchange trading (CFDs).
MetaTrader 4’s attractiveness is mainly due to the degree to which it is adapted to the user’s unique trading requirements. Trades are opened and closed on your behalf by algorithms that employ a set of established criteria.
Methods For Using MT4
Become A Member By Signing Up For An Account
To begin trading on MT4, you must first create an account with a broker. You can then open a real MT4 platform account using the broker.
Download MT 4 On Your PC
After creating an account, you’ll be able to download MetaTrader 4 on your device of choice. You may use your broker account credentials to access MT4 when you download it.
Initiate A New Career Path For Yourself
To products to the shopping cart, select “new order” from the ‘tools’ menu. The “order” window will appear when you click on this. The person can also use the keyboard shortcut F9.
To make things easier, here’s a breakdown of the order form’s components:
- The drop-down box lets you select the market you’d want to trade in.
- The “volume” of your CFD account is determined by the number of contracts you desire to trade.
- If the price moves against you, enter your stop loss level to close the trade. When it comes to essential stops, your broker’s platform mirrors those found in MetaTrader 4.
- Set a stop loss at a percentage of your desired profit to protect your gains.
Select “immediate execution” in the drop-down menu if you want your transaction to be completed right away. You may also pick a start date for your transaction by selecting “pending order” from the list.
It’s Impossible To Avoid An Immediate Response
The software will deny trades as long as you allow for the broadest possible deviation from the quoted price. Fill in the maximum variation (in percentage points from the current price) field by clicking on the checkbox and entering the percentage.
To make your order, click “buy” or “sell,” depending on whether you anticipate an increase or decrease in the market value. To place your firm on the market, you need to do this now.
An Unfulfilled Purchase Order
If you want to purchase or sell, you may choose from the following options: “sell limit,” “buy stop,” and “buy limit.” There are two sorts of orders: stop and limit.
When the price is inescapable, it is possible to activate an order.
When you tick this box, you may choose a date and time when your order will expire if the market doesn’t meet your specified “at a price.”
Use the terminal window by pressing Ctrl + T or clicking “view” in the toolbar and choosing “terminal.” This will display all of your open positions and pending orders. You’ll need to go to the ‘trade’ area of the app after that. You can terminate a position or delete a pending order by hitting the ‘x’ on the far right of the profit column.
Stop and limit orders for open positions should be adjusted as necessary.
Customization Of The MT 4chart
MT4’s extensive choices make the process of customizing the charts a breeze. To get started, follow these steps:
- In the centre of the page, draw a straight line.
- In the middle of the paper, draw a line.
- Draw a line to demonstrate the shift in the pattern.
- It’s essential to draw channels that are of the same width.
- Retrace the Fibonacci progression.
- To create a label, all you have to do is draw a line.
- Drawing on a chart is as simple as clicking the mouse. A mouse movement while clicking on the chart can change the width and placement of some items, while others open a new window for editing.