How to make a first deal using the MetaTrader 4

MT4 forex deal

After launching the Metatrader platform for the first time, you have two options. If you have a real fx trading account, you can start making deals with your deposit via the broker or you can use the demo account. If the connection is stated, real-time data should be seen. Icon in the lower, right hand corner indicates whether there is a connection or not. If it shows that the connection is available, but you cannot see charts updating, go to “Charts” and click on “Refresh”. You may also want to review historical data to check your strategy or an expert advisor. MT4 allows its users to get this data through its History Center facility. But before, you must check the number of bars. This number must take in the downloaded data. Let’s assume that you will set 1440 bars every day. 1440 is the number of minutes that every day contains of. In the MT4, select ‘Tools” and then go to “Options”,then to “Charts” and finally to “Max Bars in History”. Then you will be able to select the number of bars. Then again, select “Tools” and “History Center”. In this window, you can pick up the instrument and time frame; double click to put the database on the platform. Then simply pick the chosen data and click “Download”. Now you are ready to start forex trading. You should find now an “Order” window. One of the methods is to pick up a currency pair in the “Market Watch” window and choosing “New Trade”.  In this window you must choose the specific properties of the trade. First – choose a symbol, then volume. One lot is 100 000 units, it equals to 1.0. Then choose “Stop Loss” and “Take Profit” if your platform allows you to do so. Trading platforms downloaded from some certain brokers enables you to define those fields, otherwise, they will remain empty. Last thing – pick either “Market Execution” or “Pending Order”. If you pick the second option, you can set the entry price. That’s all – after clicking “Okay” you made your first step into the online forex trading.

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