MetaTrader is one of the most popular options all around the world. It has a plethora of features: the more you trade, the more you hear about other forex measurements or methods, and so you will certainly discover more to help you learn about MT4.
Downloading MetaTrader 4
The first step is to download and upgrade the platform to the latest version. However, the broker will provide you with a download from the broker’s website, which is a great place to start because the forex broker frequently modifies MetaTrader 4 in ways that may benefit you.
We recommend starting with the desktop edition, which makes it easier to find functionalities. The web version is still the best, but it is much smaller.
Open and Add an Account
The browser prompt allows you to begin with numerous types of accounts. You may rapidly set up a test account without having to connect to a broker. Alternatively, enter your broker’s transaction information into a live version: you must select a new or current live account.
You’d need to add permission information to your Forex account and then log in. At this point, it is a good idea to upgrade the version you download to ensure that you have all of the bells and whistles.
Customer Terminal Configuration
The user can now switch between Client Terminals as needed. Any of the options, such as writing an email or reading notes, would be obvious to you. Other settings have been selected for you if you got your software from the broker’s website.
You may select which maps to view and even specify a date range (i.e., 5-minute chart, fifteen-minute chart). In addition to adjusting the number of bars displayed, you can also change the Ask-Price levels to suit your preferences.
To make trading operations easier, you’ll need to change order submission parameters.
You should select the type of automated trading that you want. It may be necessary to differentiate between passive and active fail-safes. In the terminal, there is a “trade” tab that displays all available trade orders.
You can start trading once you’re comfortable with terminal software.
MT4 immediately displays four map windows. You’ll discover exchange tools at the top of the trading window. On the other hand, “Market Watch” is located on the left side of the panel and assists you in monitoring other market behavior. You may examine the current market output of each of these pairs by going to the “Tick Charts” tab of that pane.
Making Deals
You can change views with currency exchange by opening the “Views” window.
- Select a currency pair from the Market Watch by right-clicking on it. By clicking on “New Trade,” you will be sent to the current trading window.
- Click and right-click on an already available map. Press “Trade” first, then “New Order.”
- If you look attentively at the toolbar, click on the “New Order” label.
When you enter this new order, you will eventually see your output. You can use the same button to end the exchange in the same location where you started it. By clicking on the “Terminal” key in the “Trade” Window, you can access the free-market order.
Examine the MT4 terminal, try something new, and seek assistance with specific trading tactics to become more familiar with the platform.
