Newbies who have just entered the foreign exchange trading industry have finally understood all the basic concepts such as points and hands, and now open MT4 as if they have never learned everything… MT4, as a mainstream online trading platform, is actually very easy to operate.

Do you really use MT4? There are many novices who have just entered foreign exchange trading that do not know how to use MT4, and even some veterans who have been playing for many years do not know the skills of using MT4.

How to use MetaTrader4 foreign exchange trading software

This article will start with: MT4 trading operations, MT4 interface settings, custom toolbars, chart folder formulation, trading variety addition, viewing trading variety spreads, historical data download (for re-listing), search for charts on specified dates, indicator overlays, specified price alarms , Set investment password (observation and display use), and some other MT4 practical tips, etc. to tell you the MT4 software usage skills guide

MT4 trading operations

MT4 is a very user-friendly trading software, which is very simple and convenient when trading. Just right-click on the chart window to place an order to enter the trading options. The same is true for pending orders. Right-click on the corresponding position of the chart. If it is higher than the current price, the SEII option (pending short order) will appear, and if it is lower than the current price, the BUY option (pending long order) will appear. Of course, you can also enter the secondary menu to hang breakout single. Now the new version of MT4 can add a small “click to trade” window on the chart, and you can trade instantly with just one click. You may know these ordering methods, but do you know how to close a position quickly? The fastest way to close a position is to click on the little fork at the end of the order. But sometimes you need to partially close the position. For example, if you buy 1 lot to close 0.5 lot, then double-click on your order (don’t double-click on the stop loss and profit positions, that is to set stop loss and profit) , Will pop up the closing window, you enter 0.5 in the lot option, click the close button, you can partially close the position.

MetaTrader4

I usually set the profit to display points, so that the amount of loss and profit displayed will not be different because of the number of orders, and the mentality of holding positions will not be affected by the fluctuation of the money. For the specific settings, just right-click on the order> display profit mode> select “calculated in points”.

 MT4 trading software settings

Since the MT4 software integrates market quotation software and trading software, it feels crowded in the window arrangement. If you use multiple chart windows, the chart will be smaller. Of course, you can use the shortcut key “F11” to switch to the full screen to view the chart, but personally feel that I don’t like this cut and cut way of viewing the chart.

The operation is very simple. Follow the instructions below: click the small icons 1 and 2 on the toolbar to hide the “market quotation” and “navigator” on the left side of the chart, click 3, and hold down the left button to display the toolbar in the lower row Drag and drop to the back of the upper row of toolbars. Then press the shortcut key “Ctrl+T” to hide the order window (press the shortcut key to call out when placing an order), and finally click the small icon No. 4 to rearrange the chart.

MT4 trading software settings

Custom toolbar
MT4 trading software interface settings, custom toolbar

We often use some of the small tools in the figure below when we are trading and analyzing the market, but everyone’s analysis methods are different. These commonly used small tools may not be suitable for everyone. At this time, we will use “custom toolbar”:

Click the right mouse button on the toolbar, select “Customize” in the pop-up menu, call up the window as shown below, “select” the gadgets you often use and “remove” the less frequently used tools, and then close the window.

The function of MT4 is very powerful, but as a starting foreign exchange investor, what you need to master is the most basic operation skills!

MT4 calls out the required trading varieties

When all windows are piled up in the terminal and it is not convenient to view, you can choose a better viewing method↓

Click the [Vertical Arrange Window] tool on the toolbar to tile the K-line graphs of all varieties.

How to insert technical indicators and dashes?

Before conducting foreign exchange transactions, investors will use technical analysis and fundamental analysis to judge the movement of the exchange rate and market trends. They are not blind, placing orders and closing positions at will, entering and exiting the market without a plan.

On the MT4 page, there are about a dozen technical indicators, but not every technical indicator will be used by traders. Generally speaking, traders will choose to insert what they are familiar with and use more proficient technical indicators to help them in their judgment and analysis.

[Insert technical indicators]

Click [Technical Indicators] on the toolbar to add various technical indicators.

Too many technical indicators of MT4 foreign exchange trading software are too messy? What if I want to delete it?

method one:

Right-click in the blank space of the K-line chart box (outside the K-line) to pop up a dialog box, click [Technical Index List] to edit or delete the technical indicators;

Method Two:

In the candlestick chart box

Right-click the technical indicator inside to delete the indicator.

How to use MT4 to calculate spreads?

To calculate the number of points that a currency pair fluctuates over a period of time in the candlestick chart, you can use the [Crosshair] tool in the [icon window].

How to operate:

Click on the cross tool, left click on the selected cross center [punctual point] (press and hold the left mouse button), a movable and transformable diagonal line will appear at this time, select your [target point] in the K-line chart to view .

How to edit and delete MetaTrader4 foreign exchange trading software?

Double-click the horizontal line with the left mouse button, and white squares will appear at both ends of the horizontal line. At this time, you can press the delete key (Backspace, Delete) on the keyboard to delete; or click the right mouse button when a white square appears on the horizontal line, and a dialog box will appear Box, you can choose to edit or delete the horizontal line at this time.

How to place and pending orders?

Operation method 1: In the [Trading Variety] window, select the currency pair you want to trade, right-click and click [New Order].

Operation method 2: Click New Order in the [Toolbar] to place an order
Click New Order in [Toolbar] to place an order

Operation method 3: Shortcut key to place an order

In the upper left corner of the K-line chart, click the triangle chart, and a quick order button will appear. Enter the number of lots and select Sell or Buy according to the order requirements.

How to modify orders and close positions?

In the process of trading, if you want to change the position of stop profit and stop loss in the initial order, you need to modify the order at this time; when there is a profit or a loss and you want to close the position, what should you do?

In the [Order Column], double-click the order, select [Modify Order] in the pop-up window, and choose to modify the stop profit and stop loss prices.

On the far left of the [Order Column] is the profit status column of the order. There is a small “×” on the right side of the profit data. Click the small “×” to close the order.