Trading the Forex market provides you access to earn from the largest and most liquid market in the world. In previous years, however, you could not directly trade in the market and needed to work with a broker. Technology has changed that today, and with the MT4 platform,. You can directly trade and make a profit from the forex market.
What is MT4?
MetaTrader 4 (MT4) is a trading platform that was developed in 2005 by MetaQoutes. The platform is extremely popular because it is highly customizable to your trading preference and can also automate your trading.
How to Use MT4
To use MT4, you need to create an account with a Forex broker. Most Forex brokers have a page dedicated to helping you download and installing the MT4 software in your device. Once you’ve installed MT4, you’ll need to log in with the credentials you got from your broker.
To start trading with MT4, you need to place an order. To do this, go to the Tools tab, and click “new order”. This will bring up the ‘order’ window. Also, you can press F9 on your keyboard.
Once the order window is opened, you can place your trade. There are different options in the order window, such as symbol, which allows you to choose the market that you want to trade.
The stop loss button allows you to set a stop-loss order in case the market moves against you.
The take profit button allows you to set a limit to lock in your profits.
While there are many more settings in the MT4 trading platform. These are the most basic that you need to know to place trades on the platform.