MT4: Basics for Traders

Basics for Traders

MetaTrader 4 or MT4 is one of the most popular trading platforms around the world. It is not only easy to use, it can also help you with trading issues. The platform is famous for its technical analysis and automatic solutions. A flexible system of trading will be convenient for both professional traders and amateurs.

About MT4

This platform for traders was released by MetaQuotes back in 2005. MT4 offers a wide range of versatile markets for selling and buying commodities, cryptocurrencies, CFDs, and indices there.

MT4 has a user-friendly interface and is simple to use. You can customize the platform based on your own preferences. Using the algorithm you pick, the MT4 can automate the whole process of trading. It will close and open trades according to the list of custom settings.

MT4 Instructions

Since the platform is pretty easy to follow, you don’t need any additional recommendations once you are there. All the icons are signed and well-organized. To install and use the platform, you have to follow these simple tips:

  • Download the .exe file with the platform;
  • Run it after the file is downloaded on your PC;
  • Create login and password after the login window appears;
  • Now you can enter your personal page on the MT4 platform;
  • If you want to open the position, you can press the “Tools” button on the upper panel. Click “New order” when you are ready. It will be called the “Order” window. If you want to simplify the process, just press F9 on the keyboard;
  • Monitor your positions and the pending orders;
  • Modify the limits on positions that are opened;
  • You can customize your settings. Draw the objects on your charts if you need, add indicators, or change the time frame;
  • Enable price alert;
  • Check trading history;
  • Don’t forget to download your trading reports and use them for further analysis of your actions.

Making an order

There are numerous tools to make the ordering process automatic. You may start with arranging these tools. Pay attention to the existing features:

  • Choose the market you want to work with;
  • This option is only for CFDs. You can choose the number of contracts you are ready to deal with;
  • Take profit. This is a great tool for everyone who wants to limit the profit. Enter the amount of money you want to reach;
  • Stop loss. It is a must-have for any trader. Once a stock begins to lose its position, you can prevent it from total loss. Enter the sum on which you’d like to stop, and the platform will sell on your behalf;
  • Сhoose “instant execution” to not waste your time. It will immediately put the trade on the market, no matter whether you decide to buy or sell. Choose “pending order” for choosing the level for your trade;
  • In this section, you can leave any comments on this trade.

Instant Execution Section

In the  “Instant execution” section, you can buy or sell without any delays. Click “sell” if you believe the stock will fall, or pick “buy” if you think that the market will rise. You can also enable the deviation from the price that was quoted. Pick “maximum deviation” if you still want to start the trade after it was rejected in case of the prices unexpectedly moving from the indicated.

Customize Your MT4

This platform suits traders of any level and skill. You can use these tips to learn the basic features of MT4. Once you feel you are ready to try it, download the platform and register your profile there.

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