Metatrader 4 tutorial pdf

Metatrader 4 tutorial pdf

How to use MetaTrader 4 (Beginners’ guide),Reader Interactions

14/01/ · At the end of this MetaTrader 4 tutorial for beginners, you can download our MetaTrader 4 PDF Tutorial with some basic terminology about Forex trading which will help 05/06/ · The first step on how to set up MT4 is to download the MT4 trading program on your device, as you can see on our MetaTrader 4 tutorial below, and then proceed with its 27/08/ · To do this, open 4 new charts having the same currency pair. Now, select each chart, and then click on the time frame icon gradually from 1 minute, 5 minutes, 15 minutes, Meta Trader 4 for Android User Guide Hirose Financial UK Ltd. 27 Austin Friars, London, EC2N 2QP Email: info@blogger.com FSA Registration Number Meta Trader 4 for Android Metatrader 4 tutorial pdf metatrader 4 tutorial pdf. This guide for the metatrader 4 serves as a reference tool for trading with binary options [ ] Source: blogger.com Join millions of ... read more

It allows algorithmic trading, which is very important, and it is free. The brokers pay the MetaQuotes Company and the brokers provide the platform to us for free. What we pay the brokers is the spread.

This is the difference between the Bid and the Ask price. For beginner traders, when we buy an asset, we buy it at the Ask price or this is the more expensive price. And when we sell the asset, we sell it at the Bid price , which is the cheaper price. For example, if I buy one trading lot at the moment at the price of 1. If I close the position at that moment, I will be closing it on the Bid price. Therefore, the broker will benefit from the difference between the Buy and the Sell prices.

This is very normal and it is important to know when you are trading with Expert Advisors. The other cost that we pay the brokers is the swap. The swap comes if we hold our position overnight. If I buy EURUSD today, for example, I hold the position overnight, and I close the trade tomorrow, I will be charged a swap. This is the fee that the broker takes if it transfers the trade to the next day.

It is the same thing if you sell, but some brokers will give you actually a positive swap. In other words, if they hold your position overnight, you may benefit from that. If I right-click over the Market Watch, over the EURUSD and I click on Specification,. I have a Swap long negative and I have a Swap short positive. This means that if I keep my short trade overnight, I will have some positive swap out of that.

At the end of this MetaTrader 4 tutorial for beginners, you can download our MetaTrader 4 PDF Tutorial with some basic terminology about Forex trading which will help you learn all of these terms faster. In the Market Watch, we see all of the assets that the broker offers you. This will display more assets that are provided by the broker.

This is from where we can select the assets we want to trade. So right here I have already opened 2 charts for Bitcoin and I have some more for Forex which was opened by default when I installed the MetaTrader. So let me remove those. And I have 1 chart for Bitcoin on hourly time frame and the other one I can change, for example, to M15 timeframe. We have actually 3 types of charts. We have bars, we have candlesticks, and we have line chart.

So when we are on M15, this means that 1 candlestick or 1 bar represents 15 minutes of a time. The chart is a representation of the price which we have on the right side and the time which we have below the chart.

Where these 2 meet, we have the candlesticks. And if we are on hourly chart, then 1 candlestick or 1 bar represents 1 hour time frame. And for each candlestick, for each bar, we have the opening of the bar, we have the closing of the bar, the highest point and the lowest point. So in this case, the negative bar is represented with white color and the positive is with black color.

So if I put the mouse on the closing of the bar, you can see exactly what are the values for the open, high, low, and close. And what happens after the bar closes, a new bar opens. So we have the closing of that bar and then the new bar opens. The price goes up and down. It closes at one level. And because the closing was higher than the opening, we have a positive bar that is fulfilled with black and all of these colors you can change from Properties. Nothing over the MetaTrader 4 chart.

I just wanted to give you a brief idea of what we see on the chart as price, because at the end of the day, the price always matters. But for trading and strategies and Expert Advisors, we use different Indicators.

And I will go to Indicators List,. The Indicators, the trading rules, they will be inside the Robots. And I will show you later on in the course what are the rules, how I create the strategies, how I test them even before putting on a Demo Account.

This is where we have the accounts. In other words, mt4 indicators process these values to give you a different perspective on the market. In other words mt4 indicators process these values to. Metatrader was launched in by metaquotes software company. When you place the mouse over a candle stick. This guide for the metatrader 4 serves as a reference tool for trading with binary options […] If you want to use the dedicated metatrader platform of a particular broker, you can search using the.

This lesson will let you know about the basics of how to use the metatrader 4 mt4 trading platform. Doing this is much easier than it may sound. Buy Limit orders can be placed if you would like to take advantage of a bullish market under the condition of placing the order at a lower price level that could be hit on an expected price pullback, before continuing with an upward trend. On the other side, Sell Limit orders could be useful when you would like to take advantage of a resistance level that precedes a downward trend.

To set up a pending order in MetaTrader 4, follow the same steps to open a new order and select the Pending Order type, then you can choose the type of Pending Order with the price level that will act as a condition to trigger the order. 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.

MetaTrader 4 graphical markup tools are features that you can apply to chart in order to enhance your technical analysis; they range from a basic circle or text label, all the way to trendlines, channels and Fibonacci retracements.

In this section, we will take a look at the most popular MetaTrader 4 markup tools. Horizontal lines are used to indicate support and resistance levels, psychological price levels or target for your take profit and Stop Loss levels.

In order to draw a horizontal line, go to the line studies toolbox, click the horizontal line button and then press anywhere in the chart where you would like it to appear. Once it is placed you can click it and move it around as you need. Similarly, you can use vertical lines to mark an important period in your chart.

To draw a vertical line, go to the line studies toolbox, click the button and then press anywhere in the chart where you would like it to appear. 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.

After that, you can click the trend line and you will see three small boxes that you can click and drag to make your trendline more accurate. Click the channel button and select a candle or a bar that will be the starting point of the channel. In a similar way to a trendline, you can adjust the channel by clicking it and dragging the squares to change the angle or the width of the channel:.

To insert Fibonacci retracements in a chart, you can click the Fibonacci button in the line studies toolbox and then extend it in the chart by clicking the starting candle of the trend and dragging the line until the highest or lowest price level of the trend:.

You can click and select those objects that you wish to edit or remove them:. 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.

Go to the Navigator window and look for the indicator folder, click to expand it and you will see the list of the all the MT4 indicators. You can choose your favorite indicator by left-clicking and dragging it to the chart. After that, you will get a parameter window to select the period and the visualization properties for the indicator. You can modify or remove an indicator by right-clicking it and selecting one of the following options:.

We hope that you have learned how to use MetaTrader 4. You can always re-visit this guide in case you are not sure how to use a specific feature of MT4. No other trading platform offers such flexibility and ease of use. Post your comments below if you would like us to add more features to this guide. Your email address will not be published. Using MetaTrader 4 comes down to: Opening an account Performing a quick installation Setting up the right navigation tools and indicators Placing trades to generate profits in your account    This guide will teach you how to use MetaTrader 4 and you will get unique tips to unleash its power to improve your trading.

What are you waiting for? START LEARNING FOREX TODAY! Sign me up! share This:. Leave a Reply Cancel reply Your email address will not be published. as seen on:. Almost there! Learn the Top-5 Forex Trading Techniques.

MetaTrader 4 is the most popular trading platform for retail traders because of its simplicity and ease of use. Metatrader was launched in by MetaQuotes Software company. It licenses the software to Forex brokers. In return, brokers provide their clients with access to MT4 if they open a Forex account. Traders use the platform to monitor live prices, buy and sell at market or use pending orders, and so on. Using MetaTrader 4 comes down to:. This guide will teach you how to use MetaTrader 4 and you will get unique tips to unleash its power to improve your trading.

First, you will need to find a Forex broker and open an account. After having a demo or live account under your name, you will be able to proceed with the MT4 installation. To pick a Forex broker, you can check several listings or rankings online, just make sure that whatever option you choose complies with the following basic standards:. Usually, you can open and use a demo account very fast; follow these simple steps:. On the other hand, to open a live account in MT4 takes some extra steps, your broker will request more information.

Some brokers have restrictions on accepting clients from specific countries, as they are under strict regulation to keep their operating license. Once your forex account is open, you should receive the following details via email from your broker:. In addition, the email should contain links to download the MetaTrader 4 installer like the following:.

Similarly, you can go to the MetaTrader 4 site and download the version that suits your needs better. Note: this guide focuses on MetaTrader 4 for windows. However, If you would like to learn more about the mobile versions iPhone and Android , feel free to check the MetaTrader 4 site. Firstly, you should save the installer on your PC. After clicking the installation file link, the following will be displayed:.

Click save, then go to the location where you have saved the file and double click this icon:. You will get the following message, click yes to proceed with the installation:. Then, you will need to accept the Terms and Conditions from your broker:.

Then, MT4 files will get downloaded and when you see the green bar completed, click finish:. MetaTrader 4 will be displayed with a window to select the server:. Make sure to look and choose the server name that you got from your broker. Then, you can start using your MetaTrader 4 account! To open a new chart, go to the Navigator window, right-click in a currency pair, then click in chart window :.

You can maximize the Chart window if you would like to focus on a single currency pair. Moreover, you can switch between different instruments windows using the tabs below:.

Also, it can be handy to focus your analysis in some specific regions or candles in a chart. You can use the zoom in and out buttons that you will find in the Charts Toolbar:. In addition, you can switch between different types of charts by clicking one of the following buttons:. If you would like to get the price or volume information for a specific period, hover the mouse over the chart:.

Depending on your trading analysis, you can use the auto-scroll feature to keep to chart updated with the last tick. Click the Autoscroll button and you will get the following:. Additionally, you can use the shift button if you prefer to have some space to the right of the period. For example, here is a chart with the chart swift feature enabled:.

To visualize or change the timeframe of any chart you can use the period buttons on the timeframe toolbar:. Also, you can use the submenu button in the standard toolbar. Whatever period you choose, this will reflect as an individual bar or candle in the chart.

For example, if you choose H1, this means that each bar or candle corresponds to one hour of price action, with its specific Open, High, Low and Close prices. Using two charts with different timeframes for a specific currency pair might help to assist your trading decisions. For example, if you check H1 and you spot a selling opportunity, having a parallel daily chart might help you confirm a trading signal:. The crosshair is convenient to become agile with your trading analysis and get information in a faster way.

To enable the crosshair, click in the line studies toolbar. Then, move the mouse cursor towards a chart bar or candle, you should see the crosshair, which highlights a specific price and time. Similarly, you can use the crosshair to measure time, bar and pips distances in a chart, this is useful for doing your analysis or determining potential Stop Loss and take profit levels.

Left-click the chart while the crosshair is enabled and move your mouse while keeping it clicked:. MetaTrader 4 templates allow you to save time by storing a determined chart setup configuration.

After that, you will get the following window where you can name and save your template:. Furthermore, you can upload your favorite template into a new chart, by right-clicking and selecting load template as follows:. Then, you will need to select the template file and click the open button:.

To place a trade in MetaTrader 4, select a chart of a currency pair, then click the new order button that is located in the standard toolbar. Then, you will need to click the Sell or Buy button. Please consider that if you are placing a Buy order, this will be done at the Ask or higher price. In contrast, if you would like to sell the currency pair, the order will be placed at the Bid or lower price.

After you place an order, you should get a confirmation message like the following:. The Stop Loss feature allows you to maximize the likelihood of limiting your potential losses. Therefore, you can follow the same process above to create an order, in addition, you will need to input the stop loss value that you have previously defined. If you would like to learn more about how to determine and place Stop Loss levels, check this article. Similarly, to place a Take Profit, you can follow the same process and input the value or price target level at which you would like to lock a profit for your trade.

Check our article on how to set take profit levels if you would like to learn more about this topic. Once you have placed an order, there might be situations in which you would like to change it.

For instance, you realized that your Take Profit was incorrectly placed or you would like to modify your Stop Loss. Therefore, learning to modify open orders becomes very handy to have flexibility in your trading and adapt to new market conditions or unexpected scenarios.

Then, click the Modify button to make the change effective. As a result, you should get a confirmation message. Once the order is closed, you can go to your account history in the terminal section and you will find the details about the recently closed order:. For instance, you are planning to place a buy order in a bullish market scenario, but you would like the order to be placed after a certain price level is surpassed, confirming a possible breakout.

In this case, you would need to place a Buy Stop Pending Order. Alternatively, you can use the Sell Stop Pending Order if you expect the price drop and you would like to add a price level condition that triggers the order. Buy Limit orders can be placed if you would like to take advantage of a bullish market under the condition of placing the order at a lower price level that could be hit on an expected price pullback, before continuing with an upward trend.

On the other side, Sell Limit orders could be useful when you would like to take advantage of a resistance level that precedes a downward trend. To set up a pending order in MetaTrader 4, follow the same steps to open a new order and select the Pending Order type, then you can choose the type of Pending Order with the price level that will act as a condition to trigger the order.

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. MetaTrader 4 graphical markup tools are features that you can apply to chart in order to enhance your technical analysis; they range from a basic circle or text label, all the way to trendlines, channels and Fibonacci retracements.

In this section, we will take a look at the most popular MetaTrader 4 markup tools. Horizontal lines are used to indicate support and resistance levels, psychological price levels or target for your take profit and Stop Loss levels. In order to draw a horizontal line, go to the line studies toolbox, click the horizontal line button and then press anywhere in the chart where you would like it to appear.

Once it is placed you can click it and move it around as you need. Similarly, you can use vertical lines to mark an important period in your chart. To draw a vertical line, go to the line studies toolbox, click the button and then press anywhere in the chart where you would like it to appear. 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.

After that, you can click the trend line and you will see three small boxes that you can click and drag to make your trendline more accurate. Click the channel button and select a candle or a bar that will be the starting point of the channel.

In a similar way to a trendline, you can adjust the channel by clicking it and dragging the squares to change the angle or the width of the channel:. To insert Fibonacci retracements in a chart, you can click the Fibonacci button in the line studies toolbox and then extend it in the chart by clicking the starting candle of the trend and dragging the line until the highest or lowest price level of the trend:.

You can click and select those objects that you wish to edit or remove them:. 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. Go to the Navigator window and look for the indicator folder, click to expand it and you will see the list of the all the MT4 indicators.

You can choose your favorite indicator by left-clicking and dragging it to the chart. After that, you will get a parameter window to select the period and the visualization properties for the indicator. You can modify or remove an indicator by right-clicking it and selecting one of the following options:. We hope that you have learned how to use MetaTrader 4. You can always re-visit this guide in case you are not sure how to use a specific feature of MT4.

No other trading platform offers such flexibility and ease of use. Post your comments below if you would like us to add more features to this guide.

MetaTrader 5 Tutorial for Beginners + PDF Guide,Primary Sidebar

Metatrader 4 tutorial pdf metatrader 4 tutorial pdf. This guide for the metatrader 4 serves as a reference tool for trading with binary options [ ] Source: blogger.com Join millions of Meta Trader 4 for Android User Guide Hirose Financial UK Ltd. 27 Austin Friars, London, EC2N 2QP Email: info@blogger.com FSA Registration Number Meta Trader 4 for Android 14/01/ · At the end of this MetaTrader 4 tutorial for beginners, you can download our MetaTrader 4 PDF Tutorial with some basic terminology about Forex trading which will help 27/08/ · To do this, open 4 new charts having the same currency pair. Now, select each chart, and then click on the time frame icon gradually from 1 minute, 5 minutes, 15 minutes, 05/06/ · And basically what it is, is it’s the 1-minute chart, the 5-minute, the 15, the 30, the 1 hour, the 4 hours, the 1 day, the 1 week, and the 1 month. The timeframes I’m just going to 05/06/ · The first step on how to set up MT4 is to download the MT4 trading program on your device, as you can see on our MetaTrader 4 tutorial below, and then proceed with its ... read more

Next post When to Buy Cryptocurrency With Bigger Volume January 14, After having a demo or live account under your name, you will be able to proceed with the MT4 installation. This is where you can execute an order, you can set the volume, how much you want to trade, the Stop Loss and the Take Profit. Money Management. Just like the modify option, open the terminal, and then double click on the trade you want to close.

In this case, you would need to place a Buy Stop Pending Order. I hope now you can easily set up your MetaTrader 4 platform for a clean and clear price action trading. Right-click over the asset and click New Order, metatrader 4 tutorial pdf. Recap I hope now you can easily set up your MetaTrader 4 platform for a clean and clear price action trading. So let me remove those.