Meta Trader is a 3 in 1 software. It is a charting software which is linked to your broker, meaning you can enter trades directly from it (it gives your orders to your broker on your behalf so you don't have to enter their website or call them up to do so). Finally it gives you the ability to write trading programs/robots (this is called the MetaEditor).
Here we will just cover the main two to get you started... Charting and Order Entry.
When using MetaTrader 4 you just need to click or right click to bring up the properties/options for an object/menu. MetaTrader has dozen ways to do exactly the same thing, as you scroll through menus, tool bars and right click you will see lots of repetition. There's no right or wrong method, just use what ever you find easiest.
Here we will just cover the main two to get you started... Charting and Order Entry.
When using MetaTrader 4 you just need to click or right click to bring up the properties/options for an object/menu. MetaTrader has dozen ways to do exactly the same thing, as you scroll through menus, tool bars and right click you will see lots of repetition. There's no right or wrong method, just use what ever you find easiest.
MarketWatch (left column) is used for looking at the pairs you want to trade, you can edit the list by right clicking on it. You can also change the order in which they appear by dragging the pairs in the pink column around.
Chart
The main area of the software is dedicated to viewing charts, again you can edit the chart by using the right click and selecting "properties".
The main area of the software is dedicated to viewing charts, again you can edit the chart by using the right click and selecting "properties".
Tool Bars
Along the top of the chart are 4 tool bars from left to right. 1. Standard (software settings and view). 2. line studies (for annotating chart) 3. Charts (to change the view of chart). 4. period (for changing the chart timeframe). Again we use the right click to edit them.
Along the top of the chart are 4 tool bars from left to right. 1. Standard (software settings and view). 2. line studies (for annotating chart) 3. Charts (to change the view of chart). 4. period (for changing the chart timeframe). Again we use the right click to edit them.
Indicators
I won't cover the "line studies" or "period" tool bars as they're pretty self explanatory, just experiment with them, you can't break anything. The same is true with the "chart" tool bar, however there is one button I would like to mention the "indicator" button as this is how we get moving averages on our chart...
I won't cover the "line studies" or "period" tool bars as they're pretty self explanatory, just experiment with them, you can't break anything. The same is true with the "chart" tool bar, however there is one button I would like to mention the "indicator" button as this is how we get moving averages on our chart...
Placing a Trade, Stop Loss and Take Profit Order.
Now we must of course cover how to place a trade. here go's...
Now we must of course cover how to place a trade. here go's...
Once the trade completes the Entry/Exit levels are removed from the chart.
Finally PLAY AROUND WITH MT4, it is completely customizable. You can move everything about and load multiple charts. You won't break anything and if you get completely lost just delete all the charts and hit the "reset" buttons within the tool bar "properties" to get them back to normal. Look at this mess I've managed to create...
No comments:
Post a Comment