Part 17: Meta Trader 4: How to Exchange Forex with MT4

Since most of you know, Meta Trader is the most popular Forex trading platform. It’s often utilized in options trading, also, especially for conducting investigations. In options trading, MT4 is used only for assessing whereas the entering trading is performed through the options’ trading platform
What about using Meta Trader for Forex? Knowing that the number of options you have is more than just two (sell or buy), you can significantly eliminate the risk at the point of entering a trading order.
Meta Trader 4
List of MT4 orders
Meta Trader 4 or its latest version Meta Trader 5 is the most widespread trading platform in the world. The reason is its intuitiveness: With MT4 even a total beginner will quickly orientate.
The easiness of navigation is a quality also appreciated by Forex professionals who need to quickly enter a trading order. Objectively speaking, program-wise Meta Trader is quite a cumbersome tool. You would surely find more elegant and somewhat faster software tools than MT4. However, these types of software often represent a proprietary solution offered by individual brokers, whereas for a trader the maintenance of such software is too expensive.
Meta Trader orders
Normally, in the left upper section, you will see a button new order”. By clicking this button a new pop up window will open. This is where you can put in your purchase. Before taking this step, we’ll return 1 step back. Meta Trader features control with keyboard shortcuts. The F9 key is used for launching a transaction. If it comes to Forex trading, occasionally fractions of seconds might be crucial. This is precisely where a shortcut will help. Personally, I use shortcuts because they’re undoubtedly the quickest means of entering a trading arrangement.
MT4 pop-up window
Now, taking a look at the pop-up window it is possible to input a trading sequence. Evidently, you can input the conventional purchase or sell (implemented instantly). On the flip side, you don’t have to confine yourself to the two. What you can also do is use limit orders i.e. buy and sell limits.
The buy limit is executed once the price falls to your selected price (now you find the price too high expecting decline — buy limit — followed by an increase).
The sell limit works in the opposite direction. The order is executed after reaching a preset level. However, if you expect that the price will continue to grow by a few points and then, after exceeding a certain level, a new significant growth will start again you should use buy stop, or its opposite, sell stop.
Control your profits and losses
Forex is sometimes seen as a tool for generating unlimited profits or losses. In theory, this is true. Nevertheless, since you are not a gambler but a serious trader you must keep things under control. This is why you shouldn’t forget — if inputting a trading arrangement — to specify your own stop loss (a stage where a losing trade is going to likely be stopped) or make profit (a cost level where a profitable trade is going to be ceased ).
If you follow the Forex trading strategy Forex Currency trading is a secure undertaking. Your consistency and discipline in entering trading orders play a important role.
Overview of MT4 trading (online)
Allow ‘s sum up the problem: Binary options trading has been accomplished using a unique platform. This occurs most often at a particular site. After logging in to the machine, two buttons CALL and PUT are displayed on the monitor.
The vast majority of Forex brokers utilizes the MT4 platform or applications whose principle is much like MT4. For example, Plus500 has its own internal applications. The ideal approach to understand how trading works would be to test it all on your own. Most agents provide their demo accounts made for this specific function. Select one of the below agents and test trading with no risk!
Recommended Forex brokers