Beginner Level

Learn basic topics about forex, platforms and trading.
If you are new to the markets, start here.

Lesson 14: MT4: Terminal

The ‘Terminal’ module located at the bottom
of the MT4 system helps you to track and control all your trading activities,
pending orders, account history, cash transactions, total balance, equity, and
margin.

The Terminal serves as your main trading
hub. A good understanding of how it works will help you trade profitably over
the long term.

Trade
Tab

In the first ‘Trade’ tab, you can see all
the specifics of your positions – open and pending.

Information like:

Order: the specific ticker number of the trade, for reference if you have
any questions about the transaction.

Time: the time when the trade was opened.

Type: The order type. ‘Buy’ means a long position, ‘sell’ means a short
position. Pending orders are also shown here.

Size: number of lots.

Symbol:
name of the instrument being traded.

Price: the price at which the trade was opened.

SL/TP: stop loss and take profit levels.

Price: current market price, not opening price.

Commission: the cost of opening a position if charged (we have $0 commissions).

Swap: added or charged swap points.

Profit: the current position profit/loss.

At the bottom you can see a summary of your
entire trading account:

Balance: the amount of money you have in your account when you open
positions

Equity: your account balance plus profit / loss from your open positions

Margin: how much capital has been set aside to secure your open positions

Free
margin:
the difference between your account equity
and the margin set aside to secure open positions. It shows the amount of funds
available to make new trades.

Margin
level:
the ratio of equity to margin

There are two essential levels to note when
it comes to your margin.

If your account margin level reaches 100 %,
you may still be able to close your open positions, but you cannot open any new
positions.

Margin Level =
(Equity/Margin) x 100

At AAG, the margin close level is set to 50%,
which ensures that if your margin rate falls below this level, the system will
automatically start closing your losing positions. This is an automated
security mechanism to help secure your account funds and prevent the loss from
worsening. This begins by closing the largest losing position and ends when the
margin level returns to at least 50%.

Account
History

The terminal window also has a number of
useful bookmarks, but the second most important one is undoubtedly ‘Account
History.’

You can view and review all your past
trading activities and produce a report for a specified period.