How to Use MetaTrader step-by-step: MT4 Trading Platform

Some traders prefer eliminating the gridlines from their charts. Gridlines do not add much value and mostly make the chart’s appearance crowded. Give yourself a better chance at the Forex market by hosting your trading platform right next to your broker. Knowing how to place a trade using MetaTrader 4 is one thing; knowing how to close it is another thing.

  • In the Account History tab in the Terminal, you can see all your previous trades.
  • Post your comments below if you would like us to add more features to this guide.
  • One of the most common patterns for technical analysis is the Forex wedge pattern.
  • The detailed report includes additional metrics such as drawdown and profit factor.

Go to the “Trade” tab in the “Options” window and make sure that “One Click Trading” is ticked. IG International Limited is licensed to conduct investment business and digital asset business by the Bermuda Monetary Authority. Then, click the Modify button to make the change effective. Similarly, you can go to the MetaTrader 4 site and download the version that suits your needs better. Once the chart is repopulated, the gaps in the data should no longer be there.

How to Open a MetaTrader 4 account?

This will allow you to install the most recent version of Wine that is stable. Once it’s installed, you can start looking for info on how to use MetaTrader 4 to trade. MetaTrader 4 is also available on Mac, Android and iPhone. In the new order window that opens, set the details of your order.

Please ensure you understand how this product works and whether you can afford to take the high risk of losing money. Indicators consolidate data values regarding the Open, High, Low and Close price levels of a determined currency pair in a specific period within a timeframe. In other words,  MT4 indicators process these values to give you a different perspective on the market. Trend trading is considered one of the most profitable Forex strategies.

When turned on, you will see a grey triangle in the upper part of the window, which can be moved horizontally ( from 10 to 50% of the window size). Some brokers have restrictions on accepting clients from specific countries, as they are under strict regulation to keep their operating license. If you’ve made it this far, you now know how to trade with MetaTrader 4. Everyone needs a Metatrader4 tutorial when they just get started, so we hope our Metatrader 4 beginners guide was helpful for you. MetaTrader 4 allows you to draw on charts using several “objects”. You can install Wine by typing a certain command in the command line of the operating system.

When you want to load it onto your charts, you just need to go to Template and click on Load Template. Finally, select the filename you saved your work as, and all your trend lines will reappear. In both MetaTrader 4 and 5, traders can change the default alert sounds to an existing sound, a custom sound file, or silence all/some of the alert sounds. When you are ready to start trading, this can be done in the order window tab.

How to Enable Email Notifications in MetaTrader 4

It is clearly visible on the chart and has a high predictive potential. But when you notice it, you should not rush to open long or short positions, as it can indicate both a reversal and a continuation of the trend. You should wait for unambiguous signals, which will be discussed in this article, and only then act decisively.

How to Sell Short on MetaTrader 4

Click the channel button and select a candle or a bar that will be the starting point of the channel. To add a trendline, click   in the line studies toolbox and click a bar or candle in the chart that will be the starting point of the trendline. In addition, you can add an expiration date if you wish that the pending order is canceled after a certain period if the price condition is not fulfilled. Also, you can use the submenu button in the standard toolbar. Additionally, you can use the shift button if you prefer to have some space to the right of the period.

Without knowing about commodities and currency pairs, no trader can say he knows how to use MetaTrader 4. You can add commodities and currency pairs to MetaTrader 4 using the same process mentioned above for CFDs and indices. You just need to press Ctrl + U to open the Symbols window and look for your commodities or currency pairs folder. By expanding it, selecting the commodity you want, and clicking on show, you can add it to your Market Watch. MetaTrader 4 is a trading platform used for trading Forex and Contract for Differences (CFD).

Set Price Change Alert

At first, this may seem daunting, but the elements are very straightforward. Here is a list of those components to help you better understand. The majority of retail investor how recommended is umarkets forex broker accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Mobile trading, Trading Signals and the Market are the integral parts of MetaTrader 4 that enhance your Forex trading experience. Both options will produce a report detailing individual tickmill review trades (closed transactions, open trades and working orders) plus an account summary. The detailed report includes additional metrics such as drawdown and profit factor.

How to Sign in to MetaTrader 4

Then, you need to select a trade and drag it into a chart window. After thoroughly learning how to use MetaTrader 4, it is time to learn to apply the Tabajara Index. You can do so by first going to Properties and applying color to the low and high candles. As I previously said, the convention is to go for red for the low ones and green for the high ones. It will color the high below-average and low above-average candles with appropriate colors. You can also click on Window at the top, click on New Window, and then choose Share CFDs.

In the opened window, uncheck Ray behavior under the Parameters tab. It is often a big reason that traders go search for how to use MetaTrader 4. Knowing how to use MetaTrader 4 is not good enough if you do not know the basics of the application.

Monitor and close your positions and pending orders

You can move your mouse around to position the objects accordingly or adjust them. For some of them, you will even get separate windows so you can customize them properly. This can be done easily xcritical review by clicking “view” in your toolbar and then clicking “Terminal”, or you can do it by pressing Ctrl + T. Once you install Wine, you can download MetaTrader 4 and install the platform through it.

To view trading history in the MetaTrader 4 platform, you need to use the Terminal window. As previously said, you can use Ctrl + T to open the Terminal. From there, go to the Account History tab and right-click anywhere in the opened window. These options include All History, Last 3 Months, and Last Month. The masters of the trade use their knowledge about how to use MetaTrader 4 to make better trades.