The How to Course for MetaTrader 4 Software

How to Setup Meta Trader 4 Platform Step by Step Guide

This MT4 software step by step tutorial will explain how to guides for MT4 platform.

How to Setup MetaTrader 4

To setup MT4 platform - download MetaTrader 5 exe set-up file, Click install and follow MT4 installation instructions.

How to Log in to MT4

To trade with MT4 Platform you will need to first of all enter account details - the MetaTrader 4 platform will prompt you to enter you gold account details & you as the trader can use enter your account log in credentials by clicking the File tab in the MetaTrader 5 platform at the top left corner of MT4 software, then choose the Login to Trade Account option and then enter your account details - practice account details for Meta Trader 5 demo account & gold live account details for MetaTrader 4 real account.

How to Open a Gold on MetaTrader 4

To open a Gold go the MetaTrader 4 Market Watch Window select the instrument that you want to open and doubleclick on the instrument to open the chart for this instrument.

You can also tap the click to add button key at the bottom of the MT4 Market Watch Window Panel to add a instrument that isn't listed on the Market-Watch Widow.

How to Open a Trade in MT4

To open a trade in MT4 platform right click within the chart and choose the New Order Widow to open a buy or sell trade.

A trader can also open the New Order window on the MT5 platform by clicking the MetaTrader 4 shortcut key - F9, traders can press F9 to open the New Order panel.

From MT4 New Order window panel a trader can open a buy or a sell trade by clicking the Buy by Market to open a buy gold trade or clicking the Sell by Market to open a sell trade. From this new order trade panel a trader can also specify the lot size that they want to buy or sell.

How to Open a Buy Trade on MetaTrader 4

To open a buy gold trade choose the New Order panel in the MT5 Software by pressing F9, specify the lot size you want to trade, click the Buy by Market Button Key to open a buy gold trade in MT5 Software.

How to Open a Sell Trade on MetaTrader 4

To open a sell trade select the New Order panel in the MT5 Software by pressing F9, specify the lot size you want to trade, click the Sell by Market Button Key to open a sell trade in MT5 Software.

How to Close a Trade on MetaTrader 4

Open the MT4 Terminal Window where open trades are displayed on the MetaTrader 4 Platform by pressing MT5 shortcut Keys CTRL+T, then select the trade that you want to close, then choose Close Order option - & this then opens a Order panel to close the trade - click yellow Close button key to close the trade in MT4 platform.

How to Set Take Profit in MetaTrader 4

TP Level can be set when opening a new gold trade in MT4 platform. On the New Order window provided on the MT4 platform there is a field for Take Profit - this is where a trader will specify the take profit level for their open trade.

TP Level can also be set when modifying an already open trade, to modify & set take profit for an open trade - right click on trade that you want to modify on the MetaTrader 4 Terminal Window or on the chart, Choose Modify Order, Select Take Profit and set the Take Profit Level that you want for your open trade.

How to Set Stop Loss on MT4

Stop-Loss Level can be set when opening a new gold trade in MT4 platform. On the New Order window provided on the MetaTrader 4 software there is a field for Stop Loss - this is where a trader will specify the stoploss level for their open trade.

Stop-Loss Level can also be set when your modifying an already open trade, to modify & set a stop loss for an open trade - right click on trade that you want to modify on the MetaTrader 4 Terminal Window or on the chart, Choose Modify Order, Choose Stop Loss and set the Stop Loss Level you want for your open trade.