MT4 is one of the most versatile trading platforms in the market – little surprise that it has become the industry standard, used by over 70% of all online traders. After downloading the program, you will need to open a demo account with an online broker and enter your account number and password to access the platform’s features.
On the charts window you can see as many charts as you like, enlarge one to full screen, and click through them using their respective tabs at the bottom. Again, right click on the chart to open a position. On the main menu you can use the window tab to change the charts layout. Now, while on the chart, we can select a bars display, line or – my favorite – candlesticks. We can select our period display – all the way from 1-minute candles to 1-month; and we can zoom in or out. We can draw on it, add indicators and oscillators, and more.
Finally, at the bottom is the multi-functional terminal window. The first and most important tab is the Trade tab, where you can see all of your open and pending positions. Exposure tells you what your balance and equity are, your used margin and free margin, which constantly change in line with the profit and loss on each open position. Account history is where you will find all of your closed positions – each with its historical chart and outcome. Here, you can set up alerts for assets hitting price levels and so forth. Under the market tab you’ll find a whole slew of indicators, robots and trading systems that you can implement into the platform. Under code base you’ll find codes – also to be downloaded and implemented. And journal is a recorder of all the activities taken within the platform.
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