If you’re a retail FX trader or a professional fund manager, you will likely utilise the platforms like MetaTrader 4. In 2005, MetaQuotes Software originally introduced it, and in 2006, GO Markets became the first Australian Forex broker to make it available to its customers.
To open and close a trade, set stop losses, and load your favourite indicators into your charts, most of you reading this have some familiarity with choices like the mt4 platform.
Using a platform to create a custom chart template.
You likely employ more than one indication while deciding on your trades if you utilise technical analysis. Predefined indicators may be layered on top of a chart using a template. For traders, this means that instead of setting up indications every time a new chart is opened, they may use predetermined indicators that have been saved as templates. Create a template showing MACD, Momentum, and RSI and then use it on other charts.
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Creating a Profile
You may save your platform’s profile once you’ve set up the layout. Instead of a template, a profile saves your trading platform’s whole layout or view. Profiles are a convenient method to deal with many charts simultaneously.
The charts and settings are kept in their original locations when you save a profile. All modifications in the specified chart windows are immediately preserved in the current profile. Instead of using predetermined indicators on a single chart, this is a different approach.
Creating a Trader’s Financial Statement
Quick access to prior trades is provided through the “Account History” tab in the Terminal window. Customers can view their whole trading history, or they may select custom or specified periods.
Many customers contact to obtain a copy of their statement for tax purposes, not realising that they may do it themselves. Simply follow the steps outlined below and click “print.” That’s all there is to it. In this manner:
Access your account history by clicking on “History of the Account.” > Select a date range. Right-click anywhere in the Account History. You’ll see a list of options emerge in a new window.
Save as Report or Save As Detailed Report by clicking on the appropriate button. » Right-click and select “Save as” or “Print.”
Making a decision based on whether to measure profit in terms of terms currency or base currency
Terminal window profit and loss are seen in the base currency (Deposit) by default. For example, if your trading account is in Australian dollars (AUD) and you traded the EURUSD, your profit and loss are reported in AUD. But you may also analyse your profit and loss in terms of points or the currency used in the game.
Right-click anywhere in the Terminal Window to bring up the menu. You’ll see a list of options emerge in a new window.
A submenu will show when you place your cursor on ‘Profit.’ You will then be able to examine your profit in either Point, Terms Currency, or Deposit Currency).
Online Trading with a single click
One-Click Trading, a new way to place trades quickly and easily, is now available to traders that use this type of trading technique.
There is now a two-step process for placing a transaction on platforms like the mt4 platform. The first step is to open a window for setting a transaction. Second, choose a suitable order type and its variables and then click the required buttons depending on the order chosen and your trading options. You will not be able to place your order unless you have completed both of the preceding procedures.