The author is an expert in the field of multi-asset trading.
Introduction to MetaTrader 4
MetaTrader 4 – One of the Most Advanced Trading Platforms
If you’re new to trading, MetaTrader 4 (MT4) may seem rather technical but don’t let that put you off. The platform is very flexible and suitable for first-time traders. MT4 gives you the opportunity to trade Forex in 61 currency pairs, gold and silver and a range of index and commodity CFDs.
One of the many advantages of this platform is that you can adjust it to your level of experience. That means, as you’re becoming more familiar with the markets, you can start using more of its features. The platform will never be too technical or not sophisticated enough – it is what you make of it.
Trade Forex and Automate your Trading
MT4 is a platform widely used to trade forex. It allows you to access the financial markets, see live prices, use technical indicators and place your trades. You can automate your trading on MT4 with Expert Advisors (EAs), which is software you can programme or buy to execute trades when certain parameters are met.
Expert Advisors (EAs) on MT4
Equiti’s MetaTrader 4 platform allows you to use Expert Advisors. EAs enable you to automate your trading, executing trades emotion-free and without the need to monitor the markets. It's just one of many features that give you an upper hand.
Know your MT4
No matter what your trading experience is, you should make sure you feel comfortable with the platforms and the features you’re using. It’s hard enough to keep track of what’s happening in the markets and how that relates to your strategy without having to worry about not getting the most out of your platform.
A Complete Trading Experience
Use a Range of Trading Features
MT4 presents users with a multitude of tools to help you trade. Perhaps MT4's greatest functional attribute is that it can execute Expert Advisor (EA) strategies for you. EAs allow you to automate your trading. However, before you get to this point you should tackle the basics.
Learn How to Place Trades
The main functionality of any trading platform is to place trades, so learning the mechanics of doing this should be the first step. At the same time it’s a good idea to learn how to set your stop and limit orders. No matter what your trading strategy is, risk management is very important and cannot be ignored.
Moving on to the Next Stage
Charting functionality should be next on your list of priorities when you learn how to use MT4. Charting is a tool most traders use to make their trading decisions. Our upcoming post will cover charting on MT4 in more depth.
Once you have covered off all of the basic functionalities in these areas you will be ready to place trades. Stay tuned to learn how to trade on the MT4 platform in a few easy steps!
Open a risk-free demo account and give MetaTrader 4 a try yourself!
Margined Forex and CFD trading are leveraged products and can result in losses that exceed deposits. The value of your contract can fall as well as rise, which could result in receiving back less than you originally deposited. Please ensure you understand the risks and be sure to manage your risk exposure effectively. Equiti does not provide any investment advice.