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How to Trade in MetaTrader 4 (MT4)?

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?

Desktop MT4

Install MT4

  1. Download MT4 from the JMarkets website:

  2. Launch the downloaded file and follow the on-screen instructions. Once the installation is complete, MT4 will open automatically.

Log in and switch accounts

Log In

  1. Click "File" > "Login to Trade Account."

  2. Select the correct server from the server list.

  3. Enter your login (trading account number) and password.

Switch accounts

  1. Click "File" > "Login to Trade Account."

  2. In the Login field, select the account number from the dropdown list.

  3. Click the "Login" button.

Alternatively, use the Navigator (CTRL+N or "View" > "Navigator"): select "Accounts," then the server name to see all your saved accounts. Double-click the account and click "Login."

Add and remove instruments

To add an instrument:

  1. Right-click on the Market Watch window.

  2. Select “Symbols.”

  3. Choose from the list of symbol groups displayed.

  4. 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:

  1. Right-click on an instrument in the Market Watch.

  2. Click “Hide.”

Open an order

You can open a new order in several ways:

  • Click "New Order" (F9) in the toolbar.

  • Right-click in the Market Watch window and select "New Order."

  • Double-click the trading instrument in Market Watch.

  • Select "Tools" in the top menu and click "New Order."

In the New Order window:

  1. Select the trading instrument.

  2. Enter the order volume.

  3. Set Stop Loss and Take Profit levels (optional).

  4. Select the order type: Market or Pending order.

  5. For pending orders only: select the pending order type, then enter the price and the expiry date.

  6. 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

Close, modify or delete an order

Close an order

Find your order in the Trade tab (CTRL+T) and do one of the following:

  • Double-click the order and select "Close by market."

  • Right-click the order and select "Close."

  • Click the "X" button to the right of the order.

Modify or delete an order

  1. Double-click the order and select Type "Modify," or right-click the order and select "Modify or Delete."

  2. Set the SL and TP levels.

  3. Click "Modify."

Open the Journal

To see all your current logs:

  • In the Terminal window (CTRL+T), select the "Journal" tab.

  • Or click "File" > "Open Data Folder" and find the Logs folder.

To see Expert Advisor logs:

  • In the Terminal window (CTRL+T), select the "Experts" tab.

  • Or click "File" > "Open Data Folder" and go to MQL4 > Logs.

Mobile MT4

Install MT4

  1. Download MT4 from JMarkets website:

  2. You will be redirected to the Play Market or App Store.

  3. Install the app on your device.

Log in and switch accounts

Log in

  1. Open the MT4 app.

  2. Android: tap "Accept" on the welcome message, then tap X to close the "Open a demo account" message. iOS: go to "Settings" and tap "New account."

  3. Find the broker by name, "JGM International Pty Limited", and select the correct server.

  4. Enter your login (trading account number) and password, then tap "Sign in."

Switch accounts

  1. Open the main menu and select "Manage Accounts" (Android), or go to "Settings" (iOS).

  2. Select one of the trading accounts and enter your credentials (if you saved the password, it will be filled in automatically).

  3. Tap "Sign in" to use the selected trading account.

Add and remove instruments

To add an instrument:

  1. Tap the Quotes icon at the bottom left of the screen.

  2. Tap the + icon in the top right corner.

  3. Find the trading instrument by entering its name or browse the symbol groups.

  4. Tap the trading instrument to add it to the Quotes list.

To remove an instrument:

  1. Tap the Quotes icon at the bottom left of the screen.

  2. Tap the pencil icon in the top right corner.

  3. Tap the bin icon, select the trading instruments you want to delete, and tap the bin icon again.

Open and modify a chart

To open a chart:

  1. In the Quotes tab, tap the trading instrument.

  2. Select "Open chart."

To change the chart type:

  1. Open the main menu and select "Settings."

  2. Tap "Line type."

  3. Choose from three types of real-time charts: Bar chart, Candlestick, or Line chart.

To modify the chart, tap it 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.

Open an order

You can open a new order in several ways:

  • Go to Quotes, tap the instrument you want to trade, and tap "New Order."

  • In the Chart window, tap the new order button in the top right corner.

  • In the Trade window, tap the new order button in the top right corner.

In the New Order window:

  1. Select Market Execution or one of the pending order types.

  2. Enter the lot volume.

  3. For pending orders, enter the order price.

  4. Under the current Bid and Ask price, set your Stop Loss and Take Profit levels.

  5. Tap "Sell", "Buy", or "Place" (for pending orders).

Close or modify an order

Close an order

  1. Tap the Trade icon.

  2. Find your order, then tap and hold it.

  3. Select "Close order" and confirm by tapping "Close with Loss/Profit."

Modify an order

  1. Tap the Trade icon.

  2. Find your order, then tap and hold it.

  3. Select "Modify order."

  4. Change your Stop Loss or Take Profit level and tap "Modify."

Open the Journal

  1. Open the main menu.

  2. Tap Journal and select the relevant dates.

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