The Metatrader 4 is the leading trading platform worldwide. The platform is equipped with all the necessary tools for conducting trading processes and monitoring any market changes.
The MetaQuotes Software developed it in 2005 and from that time the platform continues to be the only choice of a thousand traders due to its speed, convenience, and accuracy. The MT4 download process is as clear as the functioning of a platform as a whole, that’s why it is appreciated by both beginner and experienced traders.
In this article, we are going to introduce you to 5 things you need to note while trading on this platform. They can make your trading process easier and save you time.
Let’s start with the list:
5 things to note trading with MT4
1. One-click trading
The first thing you should take into account while trading on MT4 is the opportunity for one-click trading. The built-in feature of one-click trading helps traders get their trades done in the blink of an eye. It reduces time spent on opening and closing orders, setting stop losses or taking profits as well as issuing pending orders for new ones that need to be placed quickly so you don’t miss out.
Currently, when you want to default mode for placing a trade on MT4, you have to do 2 things. The first is to bring up a window that will let you choose what kind of trade you want to make. The second thing is to pick an order type and set its parameters. Once you’re done, click one of the buttons depending on whether you’re buying, selling, or doing something else.
2. The ability to use the Expert Advisers
The MT4 allows you to trade using EAs. Expert Advisors are programs in the terminal that have been developed to automate analytical processes for traders.
They allow you to perform prompt technical analysis using data and manage trading activities on basis of signals received from them, without having open charts or positions at any time – an expert can work with symbols/ periods independent of whether they were opened beforehand.
3. Shortcut keys
If you want to navigate on MT4 easier and faster, there is an option of using the shortcut keys.
Here are some of them:
Home – move the chart to the start point
End – move the chart to the ending point
F1 – opening the ‘’User Guide’’
F2 – opening the ‘’History Centre’’
F9 – opening the ‘’New Order’’
4. Creating a chart templates
If you use technical analysis when you trade, you probably use more than one indicator to help you decide what to do.
A template lets you put predefined indicators onto a chart so that they are already there the next time you open a chart. You can make a template with MACD, Momentum, and RSI indicators and then use it on other charts.
5. The option of printing the trading statement
Instead of calling up to customer service and asking them to print out the historical trading statement you need, you can do it for yourself. The thing is that the MT4 has a printing function in it.
Here is a mini-instruction to it:
- Go to a history account and select the data you want to print
- Right-click anywhere to make the drop menu appear
- Click on the button ‘’Print’’
So, here were the 5 things we wanted to tell you about the Metatrader 4. This is a truly powerful platform that has been on the market for many years and continues to be loved by many traders. And by using these 5 features in practice, you will make your trading process more efficient and will save a lot of time.