February 10, 2021

How to Use MetaTrader 4?

MetaTrader 4 (MT4) is a trading platform that would allow you to get access to technical analysis tool and other solutions.

If you want to know how to use MetaTrader 4, then you came to the right place. In this guide, we are going to share with you how to use MetaTrader 4 (MT4), and how you can start trading with it. You will find this is a very useful platform that would help you trade a wide range of assets. 

What is MetaTrader 4?

Before we go to answer the question “How to use MetaTrader 4,” we need to know what this platform is all about. MetaTrader 4 is an online trading platform that can be used by investors to get access to a wide range of investment tools. 

Launched in 2005, the platform provides live prices and charts from a wide range of assets. The platform can be connected to an online broker account. This would allow traders to execute their trades and speculate in the financial markets. 

How to Use MetaTrader 4?

Downloading MetaTrader 4 

The first thing you need to do is to download this platform. You will learn how to use MetaTrader 4 on iPhone, Android, Windows, iOS and Linux devices. MetaTrader 4 can be downloaded in the aforementioned platforms and smartphones. 

If you have a telephone, you should download the MetaTrader 4 app. You will be able to start setting your account up in just a few minutes. You can always download MetaTrader 4 using the official site

The installation can be done in just a few simple steps. The whole process is explained in the installer provided by the company. 

How to use Metatrader 4 Android?

To learn how to use MetaTrader 4 Android, then you need to install the application in your smartphone. This would allow you to get access to the platform. Furthermore, you can easily start trading in the forex market

How to use Metatrader 4 on iPhone?

MetaTrader 4 can be easily used on iPhone. You just simply need to download the application to your smartphone through the official link. You should always make sure you are using the correct website to avoid scams and phishing attempts. Take into consideration that you can use also your iPad to trade with Metatrader 4. 

How to Trade with MetaTrader 4?

In order to learn How to Use MetaTrader 4, you also need to know how to trade with this platform. If you want to start trading you will need to have the platform already installed in your device. 

The interface is very simple and clear, meaning you shouldn’t have problems to start using it. In order to start using the platform, you can simply go to the “Order” section. This would be the easiest way to open an order selecting the volume, the Stop Loss, the Take Profit Level, the Type of order and more. 

You should always select the Symbol of the asset you want to trade. If you ware trading in the forex market, you can easily select the EUR/USD trading pair. In this way, you can speculate with the price fluctuation of these two currencies. 

Source: MetaTrader 4 Official Site Interface

How to Close a Trade in MetaTrader 4?

As you have opened a trade, the goal is to close it once it reaches our goal. One of the ways to do so is by selecting the Take Profit level. This can be done in the Order section and in the “Take Profit” option available. 

Source: Source: MetaTrader 4 Order Selection USDJPY Currency Pair

Another way to close a trade is by simply opening the “Trade” option that you can find in the Terminal. There you will have all the necessary information about the trades you have open. If you want to close an order, then you can simply click in the “Close Order” button. 

Furthermore, you can also use Stop and Limit orders to close your trades. In this way, you will control the price at which you want your trade to be closed. 

How to Use Trading Signals in MetaTrader 4?

MetaTrader 4 is a great platform to follow trading signals. If you want to know “How to use MetaTrader 4?” then you should take into consideration trading signals providers. It is not easy to set up trades or understand the market. This is where AltSignals can help us with the trades we want to set up. 

You will be able to receive on Telegram all the latest trading signals for the Forex market or even for cryptocurrencies. This will depend on the market you like to trade the most. By using these signals, you would not need to get worried about analysing the market. 

By paying a VIP fee, you will get all the information about when to enter a trade and how to exit. Furthermore, they will share with you all the information you should have in order to compile the “Order” screen. 

AltSignals will share with you this information:

  • Symbol
  • Stop Loss
  • Take Profit Level
  • Order Type
  • Price

The volume is something you should decide according to your risk. Risk management strategies are also going to play a key role in understanding how to use MetaTrader 4. 

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