MetaQuotes developed the MetaTrader 4 trading platform in 2005. MetaTrader 4 will also be utilised for CFD trading on indices, cryptocurrencies, and commodities in addition to the foreign exchange market (CFDs).
The adaptability of MT4 to the individual trader is a significant selling point. Automated algorithms open and close trades in your account depending on your instructions.
Steps to utilise Metatrader 4:
Create a user profile by registering.
Before accessing the Metatrader 4 platform, you’ll need to establish a live account on Ig. A genuine Metatrader 4 account is set up using the My IG dashboard.
Install the latest version of MetaTrader, 4.
After signing up for an account, you’ll have access to download Metatrader 4 on your selected device. After installing Metatrader 4, you may access your IG account using the same credentials you need to enter into IG.
Create a new job opportunity.
Using the shopping cart When you’re ready to trade, go to ‘tools’ and click ‘new order.’ To place an order, click there. You may also use the keyboard shortcut F9.
You may find the order form daunting at first, but here’s an explanation of each component:
From this menu, select the market you are interested in trading.
In a Contract for Difference (CFD) account, “volume” refers to the number of contracts traded.
Pick “instant execution” from the drop-down option to place your transaction instantly. If you’d instead specify the beginning of your trade, you may do so with the ‘pending order’ feature.
There must be an instant reaction.
Your order is cancelled if the market price fluctuates by more than the maximum allowed amount when you attempt to conduct a trade. Mark the box and type in the maximum amount by which the price can deviate from its present value.
A request that has not yet been met
Select from ‘buy limit, “sell limit,’ ‘buy stop,’ and sale stop’ to create your order. The two sorts of orders that exist are stop orders and limit orders.
It’s feasible to activate an order when the price is inevitable.
If you want your order to expire at a specific time and date if the market does not reach your ‘at price,’ you can do so here.
You may view your open positions and pending orders by opening the ‘terminal’ window (Ctrl + T) or going to the ‘view’ menu and selecting ‘terminal’ from there. Go to the app’s “trade” menu after that. To cancel an open trade or a pending order, click the small “x” in the far right corner of the profit column.
Altering the Charts in MT4
With so many choices, modifying the charts in MT4 is a snap. To accomplish this, please refer to the following guidelines:
Objects in Metatrader 4 allow for extensive customisation of charts.
- Cursor Crosshair
- Make a vertical or horizontal line along the centre of the sheet.
- Make a horizontal line on the paper.
- To illustrate the shift in the trend, sketch a line.
- It is recommended to design parallel channels of the same width.
- Use the Fibonacci numbers to go backwards.
- A Text Label Can Be Made by Simply Drawing the Necessary Text.
- To make a mark on a graph, all you need to do is click the mouse. Some of the chart’s features may be customised via a pop-up window, while others can be adjusted by simply dragging the mouse around while clicking.