MetaTrader 4 (MT4) is one of the most popular trading platforms used by traders worldwide. It offers a wide range of features and tools for both novice and experienced traders. Below is a comprehensive guide on how to trade using MT4 on both desktop and mobile devices. If you need to find your trading account credentials, refer to the article: Where to Find Details of My Trading Account?
1) Install MT4
For Windows or Mac:
- Download MT4 from the JustMarkets website:
- Launch the downloaded file and follow the on-screen instructions to install the MT4 terminal.
- Once the installation is complete, MT4 will open automatically.
2) Log In
- Click “File” > “Login to Trade Account.”
- Select the correct server from the server list.
- Enter your login (trading account number) and password.
3) Switching Accounts
- Click “File” > “Login to Trade Account.”
- In the Login field, select the account number from the dropdown list.
- Click the “Login” button.
Alternatively, use the Navigator (CTRL+N or “View” > “Navigator”), select “Accounts,” the server name, and you will see all your saved accounts. Double-click on the account and click “Login.”
4) Add and Remove Instruments
Add Instrument:
- Right-click on the Market Watch window.
- Select “Symbols.”
- Choose from the list of symbol groups displayed.
- Click on an instrument to add it to Market Watch and click “Close.”
NOTE: You could display all trading instruments with a single button, right-click on the Market Watch and select “Show All” option from the list.
Remove Instrument:
- Right-click on an instrument in the Market Watch.
- Click “Hide.”
5) How to Open Orders?
There are several possible options to open a new order:
- Click “New Order” (F9) in the toolbar.
- Right-click on the Market Watch window and select “New Order.”
- Double-click the trading instrument in the Market Watch.
- Select “Tools” from the top menu and click “New Order.”
In the New Order window:
- Select the trading instrument.
- Indicate the Volume of the order.
- Specify Stop Loss and Take Profit levels (optional).
- Select the type of order (Market or Pending order).
- Select the Type of the order, indicate the price and the expiry date (Pending orders only).
- Click “Sell by Market”, “Buy by Market”, or “Place” (for Pending orders).
NOTE: You can enable one-click trading in order to open orders from the chart directly. Right-click on the chart and select “One click trading”. This will enable a small window on your chart with the option to specify Lot and open Buy or Sell order.
6) Closing Orders
In order to close trades, find your order in the Trade tab (CTRL+T) and perform one of the following:
- Double-click on it and select “Close by market”.
- Right-click and select “Close”.
- Click the “X” button on the right of the order.
7) Modify or Delete Orders
- Double-click on the order and select Type Modify or right-click on the order and select “Modify or Delete.”
- Set up SL and TP levels.
- Click “Modify.”
8) Opening the Journal
Options:
- In the bottom Terminal (CTRL+T), select “Journal” to see all your current logs.
- Click “File” > “Open Data Folder” and find Logs.
For Expert Advisor logs:
- In the bottom Terminal (CTRL+T), select Experts.
- Click “File” > “Open Data Folder”, go to MQL4 > Logs.
1) Install MT4
Android and iOS:
- Download MT4 from JustMarkets website:
- You will be redirected to the Play Market or App Store.
- Install it on your device.
2) Log In
- Open the MT4 app.
- Tap “Accept” on the welcome message then hit X to Open a demo account message (For Android). Go to “Settings” and tap “New account” (For iOS).
- Find the broker by name: “Just Global Markets Ltd.” and select the correct server.
- Enter login (your trading account number) and password, then click “Sign in” button
3) Switching Accounts
- Open the main menu and select “Manage Accounts” (for Android) or go to “Settings” (for iOS).
- Select one of the trading accounts and enter your credentials (if you saved the password, it will be automatically filled in).
- Click “Sign in” to use the selected trading account.
4) Add and Remove Instruments
Add Instrument:
- Tap on the Quotes icon on the bottom-left of the screen.
- Tap the + icon in the top right corner.
- Find the trading instrument by entering its name or navigate through the groups of symbols.
- Tap on the trading instrument to add it to the Quotes list.
Remove Instrument:
- Tap on the Quotes icon on the bottom-left of the screen.
- Tap the pencil icon in the top right corner.
- Tap the bin icon, select the trading instruments you want to delete, and tap the bin icon again.
5) Open and Modify Chart
Open Chart:
- In the Quotes tab, tap the trading instrument.
- Select “Open chart.”
Change Chart Type:
- Open the main menu and select Settings.
- Tap Line type.
- Choose from three types of real-time charts: Bar chart, Candlestick, and Line chart.
Modify Chart:
Tap the chart in order to open a menu with the following options:
- Time frame of the chart (M1, M5, M15, M30, H1, H4, D1, W1, and MN).
- ƒ will allow you to add Indicators to the chart.
- Cross sign enables a crosshair to observe the exact price on the chart.
- Geometrical objects will open a menu where you can add objects to your Chart.
6) How to Open Orders?
Options:
- Go to Quotes, tap the instrument you want to trade, and click “New Order”.
- On the Chart window, click the new order button in the top right corner.
- On the Trade window, click the new order button in the top right corner.
In the New Order window:
- Select Market Execution or one of the pending orders.
- Indicate the Lot Volume.
- If you selected a pending order, indicate the price for the order.
- Under the current Bid and Ask price, indicate your Stop Loss and Take Profit levels.
- Click “Sell”, “Buy”, or “Place” (for pending orders).
7) Closing Orders
- Tap the Trade icon.
- Find your order, tap and hold it.
- Select “Close order” and confirm by tapping Close with Loss/Profit.
8) Modify or Delete Orders
- Tap the Trade icon.
- Find your order, tap and hold it.
- Select “Modify order.”
- Change your Stop Loss or Take Profit level and tap Modify.
9) Opening the Journal
- Open the main menu.
- Tap Journal and select the relevant dates.