The How to Guide for MT4 Platform
How to Setup MetaTrader 4 Forex Platform Lesson Tutorial
This MetaTrader 4 platform step by step guide will explain how to guides for MetaTrader 4 software.
How to Setup MT4
To setup MT4 platform - download the MT5 exe setup file, Click setup & follow the MT4 setup instructions.
How to Log in to MT4 Platform
To trade with the MT4 Forex Trading Platform you'll need to first of all enter forex account details - the MT4 platform will prompt you to enter you forex trading account details & you as a trader can use enter your forex account log in credentials by clicking the File tab on MT5 platform at the tops left corner of MetaTrader 4 platform, then select the Login to Trade Account option and then enter your forex account details - forex demo account details for MT5 forex practice account and forex live account details for MT4 real forex account.
How to Open a Forex Instrument on MT4
To open a Forex instrument go the MT4 Market Watch Window select the forex instrument that you want to open and double click on the forex instrument to open the forex chart for this forex instrument.
You can also tap the click to add button at the bottom of MT4 Market Watch Window to add a forex instrument that is not listed on the Market Watch Widow.
How to Open a Forex Trade on MT4
To open a forex trade in MetaTrader 4 platform right-click within the forex chart & select the New Order Widow to open a buy or sell forex trade.
A trader can also open the New Order window on the MT5 platform by clicking the MT4 shortcut key - F9, forex traders can press F9 to open the New Order window.
From MetaTrader 4 New Order panel a trader can open a buy or a sell forex trade by clicking the Buy by Market to open a buy forex trade or clicking the Sell by Market to open a sell forex trade. From this forex new order trade window panel a trader can also specify the forex lot size which they want to buy or sell.
How to Open a Buy Trade on MT4
To open a buy forex trade sect the New Order panel on MT5 Platform by pressing F9, specify the forex lot size you want to trade, click the Buy by Market Button to open a buy forex trade on MetaTrader 5 Platform.
How to Open a Sell Trade on MT4
To open a sell forex trade sect the New Order panel on MT5 Platform by pressing F9, specify the forex lot size you want to trade, click the Sell by Market Button to open a sell forex trade on MetaTrader 5 Platform.
How to Close a Forex Trade on MT4
Open MetaTrader 4 Terminal Window where open forex trades are displayed on MT4 Platform by pressing MT5 shortcut Keys CTRL+T, then select the forex trade you want to close, then choose Close Order option - & this then opens a forex Order window to close the forex trade - click the yellow Close button to close the forex trade on the MT4 platform.
How to Set Take Profit on MT4
Take Profit Level can be set when opening a new forex trade on the 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 forex trade.
Take Profit Level can also be set when modifying an already open forex trade, to modify and set take profit for an open forex trade - right click on trade that you want to modify in MetaTrader 4 Terminal Window or on the Forex chart, Select Modify Order, Choose Take Profit & set the Take Profit Level you want for your open forex trade.
How to Set Stop Loss on MT4
StopLoss Level can be set when opening a new forex trade on the MT4 platform. On the New Order window provided on the MT4 platform there is a field for Stop Loss - this is where a trader will specify the stoploss level for their open forex trade.
Stop-Loss Level can also be set when modifying an already open forex trade, to modify and set a stop loss for an open forex trade - right click on the forex trade you want to modify in MetaTrader 4 Terminal Window Panel or on the Forex chart, Choose Modify Order, Choose Stop Loss & set the Stop Loss Level that you want for your open forex trade.
How to Place a Forex Pending Order on MT4
To place a forex pending order open the New Order Window on the MT4 platform, then change the forex order Type from Market Execution to Pending Order.
Forex traders can then choose the forex pending order that they want to set, the pending orders are buy limit, buy stop, sell limit, sell stop.
The How to Tutorial for MT5 Platform
