MetaTrader 4 – Tips for the Professional Retail Trader

Over a dozen brokerage houses are trading in retail stores that do not offer the MT4 platform. These are usually major houses with not a lot of investment dedicated to trading platforms and instead a lot of additional costs for support and maintenance.

The broker has also limited the situation before opening a trading account. Without naming it, it’s fair to say that for retail traders the minimum requirements to open a trading account are quite restrictive. Thus MT4, is a trading platform for brokerage houses offered and traders love the convenience and ease of use. These options are unlimited, and there may be no traders using the same features.

The easiest way to open trading on MT4 trading platform is to use the ‘Order’ window and then place a quick order on the market. Select your preferred currency pair by clicking the ‘Window’ tab at the top of the MT4 platform, then selecting ‘New Window’. You can then click ‘New order’ on the MT4 toolbar or press F9 to open the ‘Order’ window.

How to place a trade in MetaTrader 4

How to set up trading with MetaTrader 4 is just part of the information that a trader needs. Once you open the trade, you’ll finally get to the point when you want to close the trade. So, how did you get out of trading on Meta Trader 4?

Select the ‘Trade’ tab from the ‘Terminal’ window (press CTRL + T to insert or delete the ‘Terminal’ window). You will see the open trades displayed in the ‘Trade’ section of the ‘Terminal’ window.

This opens the ‘Order’ window. So, if you have two or more open positions in MetaTrader 4, and are wondering how to close, this manual method is the way to do it, since you specify the individual trading you want to do. This manual method is not the only answer to implement trading in Meta Trader 4 though. You can also close using the stop order or the limit.

The image below shows the ‘Order’ window for the EUR / USD currency pair. From this, you should be able to see how easy it is to trade with Meta Trader 4. To trade in market deals/deals, you must enter the desired trade size (in bulk) in the ‘Volume’ box and then click ‘Sell or Buy’, with ‘External Market’ is selected as the order type.

This is a ‘Market Implementation’ setting that allows for quick orders in MetaTrader 4. Of course, market affairs are not the only answer to questions about how to make a trade-in MetaTrader 4. You can also choose to buy or sell using the limit or stop-by, select the option from the ‘Enter’ list.

This is how to buy and sell MetaTrader 4 at a certain level, which is worth far from the current market price, rather than doing it directly at the current price.

If you add a stop or drop when opening a trade, the standard functionality for the order level is revealed at the absolute market level. After you add a stop or hold limit this way, you can go to the ‘Trade’ tab in the ‘Terminal’ window (CTRL + T to open or close this window) and right-click on your trade. interested and select ‘Edit’ or ‘Delete Order’.

This opens the current ‘Order’ window which will allow you to fix your order level about points (not pips) away from the current market price. To change behavior in MT4 so that you can specify stops and limit orders as pips by default, you must run script or EA (Expert Advisor) to modify the functionality of the platform.

Interesting Related Article: “What is the Stock Market?