How is MT4 developed?
MT4 Platform is a software developed by MetaQuotes Software that can be used by both traders and investors to open, close, and manage market positions through the use of a financial intermediary. You can use MetaTrader 4 to carry out advanced trading operations while analyzing the financial markets.
After creating a trading account with Exness and installing the MT4 platform on your PC or mobile device, you can start trading.
You can trade in real-time and learn to analyze the markets using technical indicators without risking your money. Copy operations with Signal subscriptions and the purchase of Expert Advisors from the MetaTrader market are also available for demo accounts – MetaTrader 4 demo.
You can open a demo account on a desktop platform, as well as on mobile applications – MetaTrader 4:
Here is a quick guide to all the components of the order window:
This dropdown menu allows you to select in which market you want to trade.
For a CFD account that you would like to trade.
If you want to use a stop to close the operation if it moves against you, enter your desired level here. Stops in MT4 are equivalent to basic stops on the IG platform.
If you want to use a limit to lock in profits, enter the desired level here.
A small space to leave a comment about a particular trading; or for more advanced trading management purposes.
Choose ‘instant execution’ if you want to make your trade at the moment you select ‘buy’ or ‘sell’. Alternatively, select ‘pending order’ if you want to choose the level at which your trade is opened.
To open a new order, there are three options to choose from:
- Double-click on the trading instrument in the Market Watch window.
- In the Market Watch window, right-click on the trade instrument you want to trade and click on a new order.
- Choose to click F9 on your keyboard.
- Double-clicking a trading instrument in the Market Watch instantly opens a detailed chart for analysis.
- Once you have opened the New Order window, select your preferred symbol, transaction size, Stop Loss (SL) and Take Profit (TP) levels.
- If you want to verify the type of execution, you can find it in Type. The type of execution is automatically detected based on the instrument you choose and the type of account.
- Click on Sell by Market or Buy by Market to place the order.
- Double click on the order you want to close in the Trade tab of the Terminal section that extends along the bottom of the platform.
- Click on the yellow Close by market button.
- Alternatively, you can right-click on your order and choose Close Order; if one-click trading has never been activated, you will be asked to enable it; this method will work next time. Another simple way would be to click on the x next to your order in the Trade tab.
- That’s it. Your order is closed.
There are 4 types of pending orders to choose from in MT4 (Buy Stop and Sell Stop, Buy Limit, Sell Limit). To close the order you can use Stop Loss and Take Profit.
- Open the New Order window (see “Get Trading” above for instructions).
- Once located, select the Symbol you want to trade, then set up your volume and click on Type to select the “Pending Order” option from the dropdown menu.
- An additional Pending Order section will appear. In Type, select the desired pending order. Set the desired Price and expiration date if desired.
- However, you can set up Take Profit and Stop Loss.
- Click on Place to set up your pending order.
- If you choose an expiration date that falls on a weekend, your order will expire before the market closes at the end of the current week.
To modify/remove a pending order:
- Right-click on your pending order in the Trade tab of the Terminal section.
- Click on Modify or Delete.
- If you want to modify, you can use the available fields. The fields for modification are Price, Take Profit, Stop Loss, and Expiry. Once done, click on Modify.
- If you want to delete your pending order, you can simply choose to click on the Delete option.