Lesson 9: MT4: Basic Layout
MT4 is a good choice when you’re interested
in building your own automated trading strategies, indicators and add-ons and
searching for an open investment community.
You can download MT4 as an additional
software on both your desktop and your mobile device.
To install MT4 on your computer, just click
here and follow the next
You will need to create an account – either
Demo or Live – in
order to have login details. Once you have entered your login details, the MT4
platform will be launched automatically. If you have multiple accounts – for
example, both demo accounts and live accounts – you can choose which one you
want to exchange with using the drop-down menu in the MT4 login window.
Switching between accounts is quick and easy, and you won’t have to re-enter
your account details.
As you can see, the default view of
MetaTrader 4 is divided into three modules:
The top-left module is the Market Watch
tab, where you will find a list of tools available for trading on the AAG MT4
platform. If you can’t find the exact instrument, only right-click on any
instrument and choose’ display all instruments.’ Market Watch is where you can
open a separate window with new order, market depth and instrument
specifications. You can also customize your own favorite markets to watch and
put them in groups. For MT4, you can choose between forex, stocks, indices,
CFDs and ETFs. Market Watch gives you the ability to track price changes on
instruments in real time.
The top-right module is the
Chart Window. As you can see, this is the main part of the MT4 system.
Charts simply show the instrument’s price movements over the specified time
(hourly, daily, weekly, etc.). Charts are the most important source of market
information for technical traders and are essential for carrying out
technical analysis, working with indicators or expert advisors. The MT4
framework allows you to easily modify the design of the graphs for your needs,
and you can save it as your standard, so it’s ready every time you log in. In
addition, you can easily place a new order directly from any graph in just a
The bottom module is Terminal. This is
where you track and manage your trading, open trades and pending orders,
record of trading accounts, cash transactions, total balance and equity,
and your margin. You can edit your positions by adding Stop Losses or Take
Profit Levels to this module.
- INTRODUCTION TO FINANCIAL MARKETS
- BASICS OF TRADING
- TRADING PLATFORM