To earn money in the financial market, traders use innovative platforms. One of the most popular trading floors is Metatrader 4. Reviews about it are mostly positive. How attractive this platform is, what features and advantages it has, the reader will learn from this article.
Features of the Metatrader trading platform
According to reviews, Metatrader 4 is an ideal trading platform for beginners. It is quite simple and straightforward. It is important that Metatrader is a free platform. It is used by traders of various skill levels, as well as analysts and experts.
Metatrader is great for predicting market movements and trading. Its main advantages are simplicity, accessibility and a large number of a wide variety of built-in tools.
Platform Versions MT 4 and 5
By and large, the difference between the versions of MT is small. According to the reviews of Metatrader 4 for traders who have been working for a long time on the site, much more familiar than the fifth version. There is a wide variety of tools here:
- technical indicators;
- tools for charting and market analysis;
- the ability to connect to trading signals;
- timeframe selection;
- the ability to work simultaneously in several chart windows;
- trader can set sound alerts;
- it is possible to connect news access directly to the platform itself and much more.
Traders and analysts can use both built-in tools and download technical indicators, scripts or expert advisors from third-party resources. In addition, on the "Forex" MT4 platform, it is also possible to select the necessary tools from the library or use a tester to test the trading strategy.
Metatrader 5 version has more features. For example, on Metatrader 4 you can choose timeframes for trading: M1, M5, M15, M30, H1, H4, D, week and month. And on Metatrader 5, the choice of time periods is significantly expanded, that is, traders have the opportunity to choose the schedule M2, M3, M4, M6, M10, M12 and so on.
Among the tools, it can be noted that only in version 5 there is a "glass of prices" that traders use on "ec" accounts. And also on this platform a more advanced catalog and it is possible to simultaneously open up to 99 windows of the price chart.
Metatrader Benefits
Metatrader is one of the most popular trading floors. According to reviews, Metatrader (4 and 5), compared to other platforms, is considered the most simple, understandable and accessible platform for all categories of traders and investors.
Indeed, to install it on a computer, you don’t even need to register with any brokerage company, because you can download the program from the official website. Metatrader is a free platform with no time limits. Anyone can try their hand at trading without replenishing the deposit, as you can choose a demo version and trade without any financial risks.
Market Overview
To understand how to use Metatrader 4, you need to familiarize yourself with the functionality of the terminal. After downloading to a computer and installing the trading platform, the user will immediately be allocated three zones:
- Working area or quotation chart.
- Navigation.
- Statistics and additional features.
At the very top:
- "file";
- "view";
- "insert";
- "charts";
- "service";
- "window";
- "reference".
These are the main parameters of the platform. A little lower in the terminal will be displayed the necessary functions: selection of technical indicators, timeframes, graphical instruments, opening orders, connecting auto trading, a crosshair, creating a new chart and more.
Optionally, in the "navigation" section, you can set a "market overview", and then quotes for all trading assets will be displayed. "Navigation" allows you to view data on the trading account and instruments that are installed on the chart, as well as add new types of them.
You can go to the quick "menu" by pressing the right mouse button. To configure the type of chart, namely, the choice of the color of candles or bars, the background of the trading floor, the display of periods, the "grid", the location of the chart and its offset, you can go to the "properties" section.
Below is the statistics of the trader:
- "Open orders";
- "History of trade transactions";
- "assets";
- "news";
- Alerts
- "post office";
- "Visit log".
Here you can select signals or any instruments from the library.
Trading and Analysis Tools
Forex trading is impossible to imagine without specialized tools. Many newcomers are not serious about trading in the financial markets and as a result, opening deals, not thinking about the consequences, so to speak, at random, like in a casino, they completely lose their deposits. Forex trading is a complex business that requires the trader to appropriate specific knowledge, skills, self-discipline, patience and perseverance.
Metatrader offers traders and analysts a wide variety of special tools that they may need during forecasting quotes and in market analysis.
For graphical constructions:
- lines (horizontal, vertical, rays);
- channels
- graphic figures;
- arcs;
- fans;
- levels and more.
Technical indicators:
- trend types;
- Oscillators
- volumes;
- custom tools
- Bill Williams indicators.
Tips and tricks for using the site
According to reviews, Metatrader 4 is the most convenient trading platform. It allows you to fully analyze the changes in market quotes, open deals and earn money on the Forex currency market.
3 Golden Trading Rules:
- According to the advice of professionals, before you start trading with real deposit funds, you must first gain experience and skills in a free demo account that can be opened in Metatrader.
- The selected trading methodology or the operation of a technical indicator can be tested in the "strategy tester", which is presented on the platform. The longer the test period, the better, since the results will be confirmed or disproved with a higher probability of reliability.
- The primary task for each beginner is to learn to minimize financial risks and maintain their deposit funds. And only in second place is the ability to earn and make a profit.
Metatrader of any version is an excellent trading assistant that allows you to fully analyze the financial market and make money on it.