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If you trade the forex markets regularly, chances are that a lot of your trading is of the short-term variety; i. From my experience, there is one major flaw with this type of trading: h igh-speed computers and algorithms will spot these patterns faster than you ever will. When I initially started trading, my strategy was similar to that of many short-term traders. That is, analyze the technicals to decide on a long or short position or even no position in the absence of a clear trendand then wait for the all-important breakout, i. I can't tell you how many times I would open a position after a breakout, only for the price to move back in the opposite direction - with my stop loss closing me out of the trade. More often than not, the traders who make the money are those who are adept at anticipating such a breakout before it happens.

How to add forex forex for beginners lesson

How to add forex

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Please note that this is subject to the relevant OS terms and conditions , which you must read to ensure your full compliance. Here, we will guide you through the process for both methods, which begin the same. How do I add a broker to MT4? Firstly, you need to open an account with Admiral Markets. Once the file has finished downloading, open it and follow the on-screen instructions for installation. Once you have downloaded Parallels for Mac and entered your license key, you need to install a virtual machine.

Here is where the installation will differ depending on whether you wish to use Windows 10 or Mac OS Mojave. Install Windows 10 Using Parallels If you prefer to use Windows 10, the installation process is incredibly straightforward! To install a virtual machine, you will see the screen below. Simply click the icon labelled "Get Windows 10 from Microsoft" on the left-hand side. On the following screen, you will be prompted to buy Windows 10 from the Microsoft Store.

If you already have a license key, you will be able to download Windows 10 and can activate Windows with your license key after it has downloaded. Whilst the installation is taking place, you may be asked some setup questions, much like you would when turning on a new computer for the first time. The process can take quite a long time, depending on your Mac's capabilities.

And that is it! Once the virtual machine has been created, open the internet browser within the virtual machine, head for this page and follow the instructions for downloading MetaTrader 4 for Windows! Unfortunately, installing Mojave using Parallels is slightly more complicated. It is not possible to download it directly from Parallels as with Windows But do not worry, we will walk you through every step! Head to this page , which will ask your permission to open your Apple App store at the page for downloading Mojave.

Please note that you will not be able to find Mojave in the App store without this link. Click the "GET" button to begin your download. Do not worry, it will not reinstall Mojave on your computer automatically, but instead, download the Installer program. The download may take a while due to the large file size. Once Mojave finishes downloading, it should not be able to run automatically. However, if it does, all you need to do is quit the installer. Now, head to Parallels and create a new virtual machine.

You will be presented with this screen:. Parallels should be able to find the Mojave installer automatically, as shown below. If Parallels does not find it automatically, select "Choose Manually" and on the following screen "Select a file". The Mojave installer will be in your Applications folder. Make sure that you have "All files" selected from the drop-down, as shown below, otherwise you will not be able to select the installer.

Once selected, press continue. Parallels will need to convert the file to a Disk Image to use it to create a virtual machine. Once converted, Parallels will ask you to name the virtual machine and then the installation will begin. You will be run through various set-up options as you would when starting a brand new computer. This process can take quite a long time, depending on your Mac's capabilities. Once everything is finished, open an internet browser via your virtual machine, head to this page and follow the instructions for downloading MetaTrader 4 for non-Catalina Macs!

You are now ready for your MetaTrader 4 setup. The next section of this MetaTrader 4 tutorial details how to do a MetaTrader 4 setup on your smartphone. Are you interested in a MetaTrader 4 setup on your Android device? Perhaps you are interested in a MetaTrader 4 setup on your iOS device?

After you download the platform, the next step in the MetaTrader 4 setup is the MetaTrader 4 login. When you first run MT4 it should prompt you to enter your account details, but if not, you can just click on the 'File' tab at the top left of the platform, and then select 'Login to Trade Account'. You can then enter either your demo trading account or full trading account details. You're done with your MetaTrader 4 setup. Now, there is no specific function for logging out of MT4.

If you do not want MT4 to save your login details, ensure that 'Save Account Information' isn't checked when you first log in. Then, when you close MT4, you will automatically be logged out. Click the banner below to open your live account today! The next step after the MetaTrader 4 setup is the reason traders come to the MT4 platform: trading. This is also where some decide they need a MetaTrader 4 tutorial to speed up their learning process.

Here, I'm going to cover how to make trades with MetaTrader 4 online. Let's look at how to trade forex using MetaTrader 4 MT4. The simplest way to open a trade in MetaTrader 4 is to use the 'Order' window and then place an instant order on the market. Select the currency pair of your choice by clicking on the 'Window' tab at the top of the MT4 platform, and then select 'New Window'.

From this, you should be able to see how easy it is to buy and sell with MetaTrader 4. It is the 'Market Execution' setting that allows an instant order within MetaTrader 4. Of course, dealing at the market is not the only answer to the question of how to make a trade within MetaTrader 4. You can also choose to buy or sell using a limit or a stop order, by selecting your choice from the 'Type' dropdown. This is how to buy and sell on MetaTrader 4 at specific, desired levels away from the current market price, as opposed to executing immediately at the prevailing price.

Going short or short selling on a market is simply selling when you do not have a long position. To do so, you would simply need to place a sell trade to open as demonstrated in the screenshot image above. How to place a trade with MetaTrader 4 is only part of the information that a trader needs, of course. Once you've opened a trade, there will eventually come a point when you want to close the trade. So how do I exit a trade in MetaTrader 4?

You will see any open trades you have displayed in the 'Trade' section of the 'Terminal' window. Right-click on the order you wish to close and select 'Close Order'. This opens an 'Order' window. Click the yellow 'Close' button to close your trade. So if you have two positions or more open in MetaTrader 4, and are wondering how to close one, this manual method is the way to do it, as you are specifying which individual trade you wish to exit.

This manual method is not the only answer for how to exit a trade in MetaTrader 4 though. You can also close using a stop loss or limit order. As you can see from the 'Order' window shown in the screenshot still below , there are fields provided for you to enter a ' Stop Loss ' level and a ' Take Profit ' level.

If you click on either the up or down arrow in the 'Stop Loss' field, the box will automatically populate with the current market price the platform uses the bid price. On the tick chart on the left, you can see how your proposed stop level relates to the current bid and offer prices. To place a limit order to close a position, you simply enter a target price level in the 'Take Profit' field shown in the 'Order' window as demonstrated above. You can also use a limit order to open a position.

If you add a stop-loss or a take-profit order when you open a trade, the default functionality is for the order levels to be expressed in absolute market levels. This opens an 'Order' window that will now allow you to amend your order levels in terms of point not pips away from the current market price.

To modify the behaviour in MT4 to allow you to specify stop and limit orders as pips as a default, you would need to run a script or an EA Expert Advisor to modify the platform's functionality. In MetaTrader 4, the volume of a trade refers to the size of the trade in terms of the number of lots. As we discussed above, when you open a trade, you need to specify a value in the 'Volume' field of the 'Order' window. Once you have opened a trade in a certain market, you can add to the volume or the position size by opening a further position in the same direction on the same market obviously at a new price , or you can reduce the volume by part-closing your position.

From that list, if you want to open a price chart, simply right-click on the 'Symbol' that you're interested in and select 'Chart Window'. This will give you a list of shares that you can trade. When you have the share of your choice in a chart window, just click on 'New Order' on the toolbar to open an 'Order' window. From there, it's just a matter of simply choosing your trade size and choosing whether to deal at market or work a limit or stop order. If you do not see the share that you are interested in displayed within the 'Market Watch' window, then you need to know how to add stocks to MetaTrader 4.

Let's suppose that you want to add the German company Allianz. To add to the list displayed in 'Market Watch', you would just have to click 'Show' and then 'Close'. Additionally, clients trading with Admiral Markets can also invest in thousands of stocks and ETFs on 15 of the world's largest stock exchanges directly, by opening an investing account! Click the banner below to open your investing account today! Look for the folders in the navigation tree called 'Cash Indices'.

Expand them to reveal the available stock index CFDs. If you would like to add one to your 'Market Watch' window, simply select it and then click 'Show'. Click 'Close' when you have finished with the 'Symbols' window, and your new instrument should appear at the bottom of the 'Market Watch' window. Adding commodities to MT4 is very similar to the process described above for CFDs on shares and indices.

Let's say that you want to know how to add Gold and Silver to MetaTrader 4. Look for the 'Spot Metals' folders. Select whichever one you want to add and then click 'Show' and 'Close'. If in doubt, right-click on the 'Market Watch' window and select 'Show All', which will display all available instruments. To add a pair, simply click on the symbol and click 'Show'. Alternatively, to display all instruments available for trading, right-click in the 'Market Watch' window and select 'Show All'.

Did you know that with Admiral Markets you can trade over 40 CFDs on currency pairs, 24 hours a day, five days a week? Yes, you read that correctly! You now know how to perform a MetaTrader 4 setup and place trades in the MT4 platform.

But there is more to this platform than just trading. The next section of this MT4 tutorial will cover the rest of the MT4 features. After you've performed your MetaTrader 4 setup and begun trading, one of the first tasks you'll perform is the MetaTrader 4 chart setup. Despite MetaTrader 4 being one of the most popular platforms, the chart setup can be tricky. After your MetaTrader 4 setup, when you boot up MT4 you will be presented with a chart that looks like the one above.

This is a chart that uses the default MetaTrader 4 settings. However, some traders don't find these settings helpful for their trading purposes, nor visually appealing. Firstly, you can choose the type of chart you prefer: a candlestick chart, a line chart or a bar chart.

Many traders prefer the candlestick chart style. Using candlestick charts can help you to understand the theories and techniques that you will discover as you learn to trade.. After you have chosen a chart, the next step in this part of the MetaTrader 4 setup is to choose a color scheme. It can help to use a color scheme to differentiate when the price moves up or down. You can do so by following these steps:. After you choose your color scheme and chart style, you might prefer removing the gridlines from it.

The grid lines are not a very important feature and can crowd the chart's appearance and make it more difficult to read. After you have your chart looking the way you like it, the next step in this part of the MetaTrader 4 setup is to automate this process so you don't need to select these settings manually each time you open a chart. The next step in this part of the MetaTrader 4 setup is setting up the technical analysis.

Your MetaTrader 4 chart setup will change depending on the kind of technical analysis you choose to apply. The indicators, oscillators and other technical analysis tools you choose will appear on the chart. For example:. Regardless of your trading style and the technical analysis you choose in your MetaTrader 4 setup, you can save your configuration of style and technical analysis as a profile.

When you close the MetaTrader 4 platform, your work and profile are automatically saved. When you open it again, your work will be there. You can easily upload a profile from your MetaTrader 4 account to another account.

This is a very convenient feature of the MetaTrader 4 trading platform. He created it to identify market trends with greater confirmation. The indicator will detect the pattern of the candles and color the high below average and low above average candles with the appropriate color. In the 'Terminal' window, click on the 'Account History' tab. Right-click anywhere in this window and you will see a menu providing you with a choice of options, including 'All History', 'Last 3 Months', and 'Last Month'.

You can also choose to save a 'Detailed Report'. If you want to know how to print your account history within MetaTrader 4, simply choose 'Save as Report' or 'Save as Detailed Report'. This will save the report as an 'HTML' file. If you open the file, it will open in your web browser. Once you have selected all, right-click and choose 'Copy'. Now, open a word processing application, such as Microsoft Word or Google Docs, and paste the copied data. You can then format the account balance data as you desire, and you can then print using the application's print function.

It's simple to display a trade from your account history directly on a chart in MT4. Click on a trade in the window and drag it to a chart window. The chart will now display the instrument of the trade, and the opening and closing levels will be marked on the chart with small arrows, joined by a dashed line. If you hold the cursor over the arrows, the trade information will appear as hover text.

As with above, you can view open trades by using the 'Terminal' window. You can see your open trades by clicking on the 'Trade' tab. You will be able to see your 'Balance' displayed along with 'Equity' and your amount of 'Free Margin'. As a default setting, MT4 will display levels on a price chart for any open trades you have in a position.

The defaults are a green dotted line for entry-level, and a red dotted line for both a stop-loss level and a limit take-profit level. Changing the colour of trade levels is the same process as customising any other colours in MT4 — in other words, it is completed by accessing 'Properties'. To do this, right-click on your price chart and select 'Properties' or use F8 as a shortcut. From here, you can customise the colour of the stop levels. You can also choose to turn these order level lines off entirely.

To do this, choose 'Tools' from the menu bar at the top of the platform and then select 'Options'. In the 'Options' window, uncheck 'Show' trade levels if you wish to switch this function off. Once again, this is controlled from the 'Properties' section in MT4.

Press F8 to open 'Properties' and ensure you have the 'Colors' tab selected. The first item on the list is the background colour. Just click on the dropdown menu and make your choice. Indicators are another feature of this platform that leads traders to go searching for a MetaTrader 4 tutorial. MT4 comes bundled with a large number of core trading indicators. You can see these listed in the 'Indicators' folder in the 'Navigator' window. You can expand the number of indicators available in your trading platform by installing custom indicators.

The easiest way to expand your list of indicators is by installing MetaTrader Supreme Edition. MTSE is a custom plugin for MetaTrader 4 and MetaTrader 5 , developed by industry professionals, with a handpicked selection of additional indicators and trading tools that boosts the capabilities of your MetaTrader trading platform.

You can also download individual custom indicators that other developers have coded within this platform. Find the MT4 file that you have downloaded and copy it to your clipboard. From the resulting window, open the 'MQL4' folder and then the 'Indicators' folder. Paste your copied indicator into this folder. Then, restart MT4. The new custom indicator should now appear in your list of indicators in the 'Navigator'. Select the indicator you want to turn off by clicking on it and then click on the 'Delete' button.

First, add the MA indicator to your chart by double-clicking on 'Moving Average' in the 'Indicators' folder of your 'Navigator'. This opens a dialogue window in which you set the indicator's parameters. It is very easy to customise the look of a chart in MT4. To do this, right-click on your chart, select 'Properties', and then click on the 'Colors' tab.

From there, you can choose to customise the colours of the background, the foreground, your up and down candles , and so on. Having done so, you might like to save that look and feel for future use. You do this by saving it as a template. Right-click on your chart again and this time, choose 'Template' and then 'Save Template'.

Once you have saved a template, it is very easy to add it to a new chart. To do so, simply right-click on your chart and choose 'Template' and then 'Load Template'. Adding trendlines to charts can be a very useful tool. The default behaviour when you use the 'Draw' trendline tool the button with the diagonal line on the toolbar is to draw a line that extends all the way to the far right of the screen.

There may be times, however, when you just want a shorter line instead. To do this you need to:. If you want a trendline on a certain currency pair to re-appear the next time you look at that pair, you'll have to save your work as a template. To do this, either click on 'Chart' from the menu bar at the top of the platform and then 'Template' and then 'Save Template', or right-click on your chart and from there choose 'Template' and then 'Save Template'.

If you close MT4 and find that you want your analysis lines again, all you have to do is go to 'Template' and this time, click on 'Load Template'. Then, select whichever filename you saved your work under, and all your saved trendlines will re-appear. If you're wondering how to trade on MetaTrader 4 on more than one account at the same time, replicating trades exactly on all of them, here is the answer.

First of all, we need to look at how to use multiple accounts in MetaTrader 4. To do this, you need to install more than one version of the MT4 platform on your computer, assigning a different destination folder for each one. You can then log in to each account, using a differently located version of MT4 for each account. With a pip stop and a pip profit target, his risk-to-reward ratio is Pretty awesome right?

He decides that he will add more units every pips and trail his stop pips. This simplified example shows the basic technique of how to safely add to winning positions and how effective it can be in maximizing your profits. Now before you go pressing up every winning position you have, you have to be aware that adding to winning positions may not be the best tool for every market environment or situation.

In general, scaling into winning positions is best suited for trending markets or strong intraday moves. Because you are adding to a position as it goes your way, your average opening price moves in the direction of the move as well. Also, you should know that scaling into winning positions in range-bound markets or periods of low liquidity leaves you open to being stopped out often.

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Fill in your information, such as contact information and trading experience, on the broker's website to start your demo account. Demo accounts usually last between weeks. Install the trading software on your computer or phone to begin trading. The site will navigate you through the process of downloading the software.

Practice trading using your demo account to help you gain experience. Now is the time to practice purchasing another currency and trading it back when you think the timing is best. Your broker platform will guide you through the steps of how to use the demo account. Sign up for your account by filling in the online application.

The application will only take a few minutes and will ask you for information like your name, birth date, tax identification number, and your address. Part 2. Research the currency trend you plan on trading. Choose a currency that's stable and is used widely, such as the Euro, Mexican peso, or Japanese yen. Begin trading with small amounts of money until you gain experience.

If your small trade goes well, then you can slowly increase how much money you put into Forex trading. Add money to your account so you can begin trading. Add a small amount of money to your account and use this to begin your first trade. Make your trade using the online platform, using your base currency to purchase the quote currency the currency you think will increase in value. Watch the value of your quote currency over time using the trading platform to see if it increases or decreases.

The value of currencies changes slowly over time, so be patient. Include your email address to get a message when this question is answered. Join a Forex forum or online group to talk to others about trading and get advice. Helpful 0 Not Helpful 0. You Might Also Like How to. How to.

More References 2. About this article. Co-authored by:. Co-authors: 5. Updated: January 30, Thanks to all authors for creating a page that has been read 9, times. This opens an 'Order' window. Click the yellow 'Close' button to close your trade. So if you have two positions or more open in MetaTrader 4, and are wondering how to close one, this manual method is the way to do it, as you are specifying which individual trade you wish to exit.

This manual method is not the only answer for how to exit a trade in MetaTrader 4 though. You can also close using a stop loss or limit order. As you can see from the 'Order' window shown in the screenshot still below , there are fields provided for you to enter a ' Stop Loss ' level and a ' Take Profit ' level. If you click on either the up or down arrow in the 'Stop Loss' field, the box will automatically populate with the current market price the platform uses the bid price. On the tick chart on the left, you can see how your proposed stop level relates to the current bid and offer prices.

To place a limit order to close a position, you simply enter a target price level in the 'Take Profit' field shown in the 'Order' window as demonstrated above. You can also use a limit order to open a position.

If you add a stop-loss or a take-profit order when you open a trade, the default functionality is for the order levels to be expressed in absolute market levels. This opens an 'Order' window that will now allow you to amend your order levels in terms of point not pips away from the current market price.

To modify the behaviour in MT4 to allow you to specify stop and limit orders as pips as a default, you would need to run a script or an EA Expert Advisor to modify the platform's functionality. In MetaTrader 4, the volume of a trade refers to the size of the trade in terms of the number of lots.

As we discussed above, when you open a trade, you need to specify a value in the 'Volume' field of the 'Order' window. Once you have opened a trade in a certain market, you can add to the volume or the position size by opening a further position in the same direction on the same market obviously at a new price , or you can reduce the volume by part-closing your position.

From that list, if you want to open a price chart, simply right-click on the 'Symbol' that you're interested in and select 'Chart Window'. This will give you a list of shares that you can trade. When you have the share of your choice in a chart window, just click on 'New Order' on the toolbar to open an 'Order' window. From there, it's just a matter of simply choosing your trade size and choosing whether to deal at market or work a limit or stop order.

If you do not see the share that you are interested in displayed within the 'Market Watch' window, then you need to know how to add stocks to MetaTrader 4. Let's suppose that you want to add the German company Allianz. To add to the list displayed in 'Market Watch', you would just have to click 'Show' and then 'Close'. Additionally, clients trading with Admiral Markets can also invest in thousands of stocks and ETFs on 15 of the world's largest stock exchanges directly, by opening an investing account!

Click the banner below to open your investing account today! Look for the folders in the navigation tree called 'Cash Indices'. Expand them to reveal the available stock index CFDs. If you would like to add one to your 'Market Watch' window, simply select it and then click 'Show'. Click 'Close' when you have finished with the 'Symbols' window, and your new instrument should appear at the bottom of the 'Market Watch' window. Adding commodities to MT4 is very similar to the process described above for CFDs on shares and indices.

Let's say that you want to know how to add Gold and Silver to MetaTrader 4. Look for the 'Spot Metals' folders. Select whichever one you want to add and then click 'Show' and 'Close'. If in doubt, right-click on the 'Market Watch' window and select 'Show All', which will display all available instruments.

To add a pair, simply click on the symbol and click 'Show'. Alternatively, to display all instruments available for trading, right-click in the 'Market Watch' window and select 'Show All'. Did you know that with Admiral Markets you can trade over 40 CFDs on currency pairs, 24 hours a day, five days a week? Yes, you read that correctly! You now know how to perform a MetaTrader 4 setup and place trades in the MT4 platform.

But there is more to this platform than just trading. The next section of this MT4 tutorial will cover the rest of the MT4 features. After you've performed your MetaTrader 4 setup and begun trading, one of the first tasks you'll perform is the MetaTrader 4 chart setup.

Despite MetaTrader 4 being one of the most popular platforms, the chart setup can be tricky. After your MetaTrader 4 setup, when you boot up MT4 you will be presented with a chart that looks like the one above. This is a chart that uses the default MetaTrader 4 settings. However, some traders don't find these settings helpful for their trading purposes, nor visually appealing. Firstly, you can choose the type of chart you prefer: a candlestick chart, a line chart or a bar chart. Many traders prefer the candlestick chart style.

Using candlestick charts can help you to understand the theories and techniques that you will discover as you learn to trade.. After you have chosen a chart, the next step in this part of the MetaTrader 4 setup is to choose a color scheme. It can help to use a color scheme to differentiate when the price moves up or down. You can do so by following these steps:. After you choose your color scheme and chart style, you might prefer removing the gridlines from it.

The grid lines are not a very important feature and can crowd the chart's appearance and make it more difficult to read. After you have your chart looking the way you like it, the next step in this part of the MetaTrader 4 setup is to automate this process so you don't need to select these settings manually each time you open a chart. The next step in this part of the MetaTrader 4 setup is setting up the technical analysis. Your MetaTrader 4 chart setup will change depending on the kind of technical analysis you choose to apply.

The indicators, oscillators and other technical analysis tools you choose will appear on the chart. For example:. Regardless of your trading style and the technical analysis you choose in your MetaTrader 4 setup, you can save your configuration of style and technical analysis as a profile. When you close the MetaTrader 4 platform, your work and profile are automatically saved.

When you open it again, your work will be there. You can easily upload a profile from your MetaTrader 4 account to another account. This is a very convenient feature of the MetaTrader 4 trading platform. He created it to identify market trends with greater confirmation. The indicator will detect the pattern of the candles and color the high below average and low above average candles with the appropriate color. In the 'Terminal' window, click on the 'Account History' tab.

Right-click anywhere in this window and you will see a menu providing you with a choice of options, including 'All History', 'Last 3 Months', and 'Last Month'. You can also choose to save a 'Detailed Report'. If you want to know how to print your account history within MetaTrader 4, simply choose 'Save as Report' or 'Save as Detailed Report'.

This will save the report as an 'HTML' file. If you open the file, it will open in your web browser. Once you have selected all, right-click and choose 'Copy'. Now, open a word processing application, such as Microsoft Word or Google Docs, and paste the copied data. You can then format the account balance data as you desire, and you can then print using the application's print function.

It's simple to display a trade from your account history directly on a chart in MT4. Click on a trade in the window and drag it to a chart window. The chart will now display the instrument of the trade, and the opening and closing levels will be marked on the chart with small arrows, joined by a dashed line. If you hold the cursor over the arrows, the trade information will appear as hover text. As with above, you can view open trades by using the 'Terminal' window.

You can see your open trades by clicking on the 'Trade' tab. You will be able to see your 'Balance' displayed along with 'Equity' and your amount of 'Free Margin'. As a default setting, MT4 will display levels on a price chart for any open trades you have in a position. The defaults are a green dotted line for entry-level, and a red dotted line for both a stop-loss level and a limit take-profit level.

Changing the colour of trade levels is the same process as customising any other colours in MT4 — in other words, it is completed by accessing 'Properties'. To do this, right-click on your price chart and select 'Properties' or use F8 as a shortcut. From here, you can customise the colour of the stop levels. You can also choose to turn these order level lines off entirely.

To do this, choose 'Tools' from the menu bar at the top of the platform and then select 'Options'. In the 'Options' window, uncheck 'Show' trade levels if you wish to switch this function off. Once again, this is controlled from the 'Properties' section in MT4. Press F8 to open 'Properties' and ensure you have the 'Colors' tab selected. The first item on the list is the background colour.

Just click on the dropdown menu and make your choice. Indicators are another feature of this platform that leads traders to go searching for a MetaTrader 4 tutorial. MT4 comes bundled with a large number of core trading indicators. You can see these listed in the 'Indicators' folder in the 'Navigator' window. You can expand the number of indicators available in your trading platform by installing custom indicators.

The easiest way to expand your list of indicators is by installing MetaTrader Supreme Edition. MTSE is a custom plugin for MetaTrader 4 and MetaTrader 5 , developed by industry professionals, with a handpicked selection of additional indicators and trading tools that boosts the capabilities of your MetaTrader trading platform.

You can also download individual custom indicators that other developers have coded within this platform. Find the MT4 file that you have downloaded and copy it to your clipboard. From the resulting window, open the 'MQL4' folder and then the 'Indicators' folder. Paste your copied indicator into this folder.

Then, restart MT4. The new custom indicator should now appear in your list of indicators in the 'Navigator'. Select the indicator you want to turn off by clicking on it and then click on the 'Delete' button. First, add the MA indicator to your chart by double-clicking on 'Moving Average' in the 'Indicators' folder of your 'Navigator'.

This opens a dialogue window in which you set the indicator's parameters. It is very easy to customise the look of a chart in MT4. To do this, right-click on your chart, select 'Properties', and then click on the 'Colors' tab. From there, you can choose to customise the colours of the background, the foreground, your up and down candles , and so on. Having done so, you might like to save that look and feel for future use.

You do this by saving it as a template. Right-click on your chart again and this time, choose 'Template' and then 'Save Template'. Once you have saved a template, it is very easy to add it to a new chart. To do so, simply right-click on your chart and choose 'Template' and then 'Load Template'.

Adding trendlines to charts can be a very useful tool. The default behaviour when you use the 'Draw' trendline tool the button with the diagonal line on the toolbar is to draw a line that extends all the way to the far right of the screen. There may be times, however, when you just want a shorter line instead. To do this you need to:. If you want a trendline on a certain currency pair to re-appear the next time you look at that pair, you'll have to save your work as a template.

To do this, either click on 'Chart' from the menu bar at the top of the platform and then 'Template' and then 'Save Template', or right-click on your chart and from there choose 'Template' and then 'Save Template'. If you close MT4 and find that you want your analysis lines again, all you have to do is go to 'Template' and this time, click on 'Load Template'.

Then, select whichever filename you saved your work under, and all your saved trendlines will re-appear. If you're wondering how to trade on MetaTrader 4 on more than one account at the same time, replicating trades exactly on all of them, here is the answer. First of all, we need to look at how to use multiple accounts in MetaTrader 4. To do this, you need to install more than one version of the MT4 platform on your computer, assigning a different destination folder for each one.

You can then log in to each account, using a differently located version of MT4 for each account. For copying trades, each account needs to be configured to allow automated trading and to allow linking to dynamic libraries. To do this, click on 'Tools' at the top of the platform and then select 'Options'.

The final stage is to install a trade-copying program for MT4. Using a copying Expert Advisor is therefore a method for how to link your existing account to another computer. There is only so much real-estate available on your screen to display the various windows you have open in MT4. Closing certain windows, therefore, will cause the remaining windows to enlarge. Closing the 'Navigator' window, for example, will cause a price chart to increase in size and take up the newly-available space.

You can use the cursor keys to scroll left and right on a chart in MT4. The 'Page Up' and 'Page Down' keys will fast scroll to the left and right, respectively. Profit is displayed in your deposit currency by default, but it is easy to switch this to display as pips instead. To do so, right-click in the 'Trade' window and select 'Profit'. Then choose 'Points' instead of 'Deposit' currency.

You will want to get MetaTrader 4 notifications. Right-click anywhere in the 'Alerts' window and choose 'Create'. You then need to fill in the criteria for the alert, such as, which market you wish to place the alert on, what 'Value' that is, price ; which 'Condition' to apply such as if the Bid is less than a certain price, or if the Ask is less than a certain price, etc. One specific form MetaTrader alerts that some traders prefer are email alerts.

You then need to fill in the fields to configure which email server and address are being used for relaying the email alerts to you and also to which email address you want to ultimately receive the alerts. For example, you can perform a MetaTrader 4 email setup for gmail alerts.

First, click 'Enable' and then fill in the various fields. You may find for the 'SMTP' Simple Mail Transfer Protocol configuration fields that it is worth creating a Gmail account for the sole purpose of relaying these messages on to your existing email account. Make sure to click 'Test' to check that it works before clicking OK. MT4 should automatically update itself to the latest version whenever a new update is released by MetaQuotes, the software company behind the MetaTrader family of platforms.

You can see which version of MetaTrader 4 you are running by clicking 'Help' at the top of the MT4 platform and then selecting 'About'. The MetaTrader 4 brokers you connect with determine the timezone displayed in your MT4 platform.

You cannot change it locally on your device. So the only real answer for how to change the time on MetaTrader 4 is to use a broker that uses a different timezone. The resulting popup offers you a 'Server' option, from which you can specify a different server. On a daily chart, the separators will mark the beginning of the month.

To restore a chart to its default settings, simply right-click on a chart and select 'Properties'. From the 'Properties' window, choose the 'Common' tab and then click on the 'Reset' button at the bottom. If you wish to restore your whole platform to default condition, the 'nuclear' option is to re-install MT4 on your device. If you have MT4 open for a long time, sometimes, you may see gaps start to appear in chart data.

You may be able to rectify this with a simple refresh — right-click on the chart and select 'Refresh' from the menu. Sometimes, you may have to go further and do a full manual reset of the chart data. Press F2 to open the 'History Center' and then look through the directory for the instrument and time frame you wish to refresh.

Double-click on the time frame and it will populate the window with data values. Select all the values by clicking in the first cell, holding the shift key, scrolling all the way to the bottom, and clicking on the final cell. Click 'Delete' and all the values will disappear apart from one row. Click 'Delete' again to remove this final row. Your chart will now say 'Waiting to Update'.

If it does not fully re-populate, try going to a different time frame and then back again. You may also have to right-click and choose 'Refresh'. When the chart repopulates, it should remedy any gaps in your data. There should be an 'Accounts' folder in the 'Navigator', above the 'Indicators' folder.

You can see the account number listed there. You can access the news feed in MetaTrader 4 via the 'Terminal' window. If you have many charts open that have been running for a long time, it can cause MT4 to run slowly if you do not have enough free RAM available on your device. One way to remedy this problem is to reduce how much data is displayed in each chart. In this window, reduce 'Max' bars in the history and 'Max' bars in the chart to smaller values.

Regularly restarting MT4 will also help mitigate problems of slowness, as will closing down any Expert Advisors that you are not using. Expert Advisors or EAs perform automatic functions in MT4 as directed by their developer — you can think of them like trading and analysis robots.

You can create an EA by opening the 'MetaEditor'. The quickest way to do this is by pressing F4 you can also right-click on Expert Advisors in MT4's 'Navigator' and then by selecting 'Create' in 'MetaEditor', and there is also an icon on the toolbar for this specific purpose. You may find it easier to download and install an EA, rather than creating your own, however.

The method for setting up an EA in MT4 is much the same as installing a custom indicator. First, locate the file on your computer for the EA and copy it to your clipboard. In the new window, open the MQL4 folder and then the 'Experts' folder.

Paste your copied EA file into this folder. You will now have to restart MT4. Just click and drag to a chart to start using it. If you have purchased a commercially-available script, be sure to read and follow any accompanying installation instructions. Generally speaking, adding a script is similar to installing an EA as described above.

Copy the file to your clipboard. Open the MQL4 folder and look for the 'Scripts' folder. Open the 'Scripts' folder and paste the copied file in there. This is one feature that an MT4 tutorial won't be able to teach you how to master. If you are familiar with the concept of Artificial Neural Networks and have an aptitude with programming in the MQL4 language that MT4 uses, you have the skills required to create an artificial neural network with MT4.

To do this, you will need to use the Fast Artificial Neural Network Library FANN to create a network of neurons, which you can train to understand market data and perform trading functions as part of an EA.

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How To Place A Forex Trade Using Meta Trader 4

Forex traders are usually given several options when deciding how to deposit funds into trading accounts, from credit cards to wire transfers. On cTrader, go to 'Finder' under the 'Trade' tab. Click on an instrument type to view the available pairs. You can also search for the pair in the 'Symbols'. Learn how to install an expert advisor (EA) on the MetaTrader 4 trading platform. An expert advisor, otherwise known in the forex world as an “EA,” is.