1. 4.GETTING STARTED In the top left hand corner you can find the various CHARTING Opening a chart toolbars and menus associated with the operation In order to open/create a new chart, select theWITH MT4 of your MT4 platform. New Chart icon from the toolbar. A drop-down list will appear detailing the various products that you In this guide we will show you step-by-step how can base your chart on. to use all the main features of this platform from logging into your account to how to use and run An alternative method of performing the same Expert Advisors (EA’s). process is to drag the instruments Symbol from the list in Market Watch. Left-click the symbol, and drag to the chart area on the right hand side of the2. screen.LOGGING IN In the File menu, choose Login. Should you have installed MT4 from our website, then the Properties Changing the chart display Trading Servers names should be populated as: In order to change the chart’s colors and its gen- ForexTrading-Live and ForexTrading-Demo. eral presentation, move the mouse onto the chart, right-hand click on the chart and from the menu If not, enter the Login and Password as detailed select Properties. in your sign up email followed by one of the fol- lowing server addresses: Login Live account saxomt1.leveratetech.com:443 Profiles Demo account saxomtdemo1.leveratetech.com:443 The user is able to create a profile of commonly Add the √ to make logging in easier in future. used charts and save it for future use. If you trade just one instrument, eg EURUSD, you can create3. many charts of EURUSD, with different time pe- riods and with different technical indicators, andMain page save them all as one profile. Market Watch The market watch window has two tabs, Symbols After creating your desired charting template, and Tick Chart. choose File from the menu bar, Profiles and Save As. In order to find any saved profiles and to keep things easier to manage, save the files at Symbols Program Files > SaxoMT4 > Profiles. Save As The Market Watch window displays all available Just using File > Save As will save a .csv file of the Save As instruments that can be traded. By right-clicking current chart data. you can decide which columns you wish to display, ie you could choose to show the high/low data and also the time of the last quote. Data Window If you wish to remove some pairs you can Hide The data window enables you to analyze the highs/ them, and if wish you can Show All. lows and open/close of the chart over a predefined period of time (ie each bar in a chart). Move the mouse cursor over a chart and the Data Window Tick chart shows the information as above. When using EA’s, which will discussed in further detail later in this guide, the tick chart becomes indispensable. This chart, as the name suggests, updates itself with every incoming tick/price movement. MT4 USER GUIDE 2
5.TRADING Opening a New Trade Closing a Trade To open a new trade right-click on the symbol in Also from within the Trade tab in Terminal, clicking Market Watch, then click New Order. Alternatively on a position will bring up an Order window where you can right-click in a chart Trading > New Order. you can close the position. Another method of bringing up an Order window at anytime is to press F9 on your keyboard. Order At the bottom of this Order window there is an op- tion to close the trade using the long yellow clickOrder The window that opens contains a real-time tick box. The trade number that will be closed is noted chart for your information. The red line is the bid on this box as well as the current price that it will price, the blue is the offer price. close at. The window opens with the Type Instant Execution. By lowering the lot size in the Volume dropdown In this type of order you are able to trade immedi- box it is possible to effect a partial closure of the ately and at the same time, if you so wish, attach position. The yellow box will be amended to reflect any stop loss or take profit contingent order to the your new chosen amount. resultant position. For example, if you have a 0.50 lots position and you wish to close only half of it, you can amend the Once the order has been executed a confirmation Volume to 0.25 lots and then press Close. Half the will appear in the window detailing the order num- position will instantly close while the remaining ber, rate etc. Click OK and the window will close. half will be left open. Terminal Window Stop Loss and Take Profit orders At the bottom of the platform you will find the In order to add contingent orders to an already Terminal window. If for some reason you cannot open position go to the Terminal window and see it displayed, then in the menu bar go to View double click on the position. In the Order window > Terminal and it will be displayed. CTRL+T will that appears, change the Type to Modify Order. also bring up the Terminal window Order At the bottom of the Order window you can now The first tab Trade will display all open positions see fields in which to enter stop loss and take profit and any pending orders that you have. Financial orders, which will be attached to the open position. information relating to Account Balance, Equity The Level field (in points) is the distance away from and Margin usage can also be found in this tab. market that you would like your order. The mini- If a stop loss that is attached to an open position mum distance from market is 2 pips. In MT4 this is is close to being triggered then the SL area of the expressed as 20 points. (In EURUSD for instance 1 trade line will appear in red. If a take profit is close pip is the fourth decimal—1.305x—but MT4 allows to being triggered then it will appear in green. for five decimals—1.305xx). Once you have popu- lated these Level fields and have met the 20 point criteria (2 pips), a long Modify box will appear. Click this and your stop loss and/or take profit is created. It is also possible to enter the rate manually (1.22550 in the above example) as long as the 20 points (2 pips) criteria is still met. MT4 USER GUIDE 4
Pending OrdersIf you follow the same procedures as for opening anew trade change the Type from Instant Executionto Pending Order.In the lower half of the box you are given four op-tions for Type:Buy Limit — place a resting order to buy at a pricebelow the market;Buy Stop — place a resting order to buy at a priceabove the market;Sell Limit — place a resting order to sell at a priceabove the market;Sell Stop — place a resting order to sell at a pricebelow the market.Fill in the details of your order and the press thePlace button. A confirmation with the order detailswill appear. The order will now appear in the Ter-minal window in the Trade tab.If the prices you enter are incorrect, eg in thewrong direction given the current market price,then the system will not pass the order and youwill receive a message stating Invalid S/L or T/P. MT4 USER GUIDE 6
6.TRAILING STOP LOSS Placing a Trailing Stop Strategy Tester MT4 allows you to use a trailing stop on your posi- MT4 allows the user to back-test an Expert Advisor tion, which moves as the market moves. to test it on historic market data in order to ascer- In order to place the trailing stop you should right tain its past p/l ratio and hence its suitability to click with the mouse on the relevant position and use live and with real money. Click on the Strategy choose your required trailing stop level. Tester button as below. Trailing Stop None If you wish to remove a trailing stop then select the Select the Expert Advisor that you wish to test. amount of points as None. The strategy tester allows you to test the EA on Please note the trailing stop will not be activated any currency pair that is currently available to trade until such time that the price moves in your favour on your MT4 platform. Choose the Model and Use by the amount you select. date from the dropdown lists. The Period means Important: Trailing stops are kept on the clients for which time frame you wish to run the test. You own platform and not on the servers. Therefore can choose any period from 1-minute to daily. After when you close your platform the trailing stop will you have set the criteria for the test, hit the Start cease to be live. button. When the back-test has completed running, you7. can find all details pertaining to the test in the be- low tabs; namely Results, Graph and Report.Expert Advisors To run your Expert Advisor (EA) click on the Navigator button in the toolbar. This opens the The Graph will show you the graph of your account Navigator; an MT4 specific file manager. balance. A downward sloping graph means the Under Expert Advisors select the EA you wish to test showed that in the past you would have lost use. Double click on your chosen EA and a box will money on the relevant EA. Conversely an upward appear. Tick the box for Live trading, press OK and sloping graph made money. automated trading for this EA will be activated. You will see a smiley face in the upper right hand cor- An in-depth analysis of the EA can be found in the ner of the chart when the EA is running. If you do Report tab. The above shows just a small screen- not see this smiley face then some of the settings shot of the level of detail that can be obtained may be incorrect and should be reviewed. from the Strategy Tester. The system ensures that you are equipped with as It is important to make sure that the Expert much data as possible to assist in making the right Advisors button as shown above is green and run- choice when selecting your Expert Advisor. ning. It is a toggle on/off button. Green is running, The system ensures that you are equipped with as red is not running. much data as possible to assist in making the right choice when selecting your Expert Advisor. MT4 USER GUIDE 8
This manual does not constitute or contain investment advice. Its contents are intended as information only, and serve the sole purpose of providing technical instructions for the use of the MetaTrader4 trading platform. FT World Ltd P.O. BOX 56242, 3305 Limassol, Cyprus · Tel +357 25 021 171 · Fax 357 25 021 172 · email@example.comFT World Ltd is a Cypriot Investment Firm regulated by the Cyprus Securities and Exchange Commission with license number CIF 163/12.