The How to Course for MT4 Software

How to Setup MetaTrader 4 Platform Lesson Tutorial

This Meta Trader 4 platform step by step guide will explain how to guides for Meta Trader 4 trading software.

How to Setup MetaTrader 4

To setup MT4 - download the MT5 exe setup file, Click install & follow the MT4 setup instructions.

How to Log in to MT4 Software

To trade with the MT4 Software you'll need to first of all enter account details - the MT4 platform will prompt you to enter you account details and you as a gold trader can use enter your account log in credentials by clicking the File tab on MT5 platform at the top left corner of MetaTrader 4 platform, then choose the Log In to Trade Account option and then enter your account details - Demo account details for Meta Trader 5 practice account and xauusd live account details for MT4 real xauusd account.

How to Open a XAUUSD on MT4

To open a XAUUSD go the MT4 Market Watch Panel select the instrument that you want to open and double click on the instrument to open the chart for this instrument.

You also can tap the click to add button at the bottom of MT4 Market Watch Panel to add a instrument that is not listed on the Market Watch Widow.

How to Open a Trade in MT4

To open a trade in MT4 platform right-click within the chart & choose the New Order Widow to open a buy or sell xauusd trade.

A trader can also open the New Order window on the MT5 software by clicking the MetaTrader 4 shortcut key - F9, traders can press the F9 key to open the New Order panel.

From MetaTrader 4 New Order panel a trader can open a buy or a sell xauusd trade by clicking the Buy by Market to open a buy trade or clicking the Sell by Market to open a sell xauusd trade. From this new order trade window panel a trader can also specify the lot size that they want to buy or sell.

How to Open a Buy Trade on MetaTrader 4

To open a buy trade select the New Order window panel on MT5 Software by pressing F9, specify the lot size you as a trader want to trade, click Buy by Market Button to place a buy trade in MT5 Software.

How to Open a Sell Trade on MetaTrader 4

To open a sell xauusd trade select the New Order window on MT5 Platform by pressing F9, specify the lot size you as a trader want to trade, press the Sell by Market Button to open a sell xauusd trade on MetaTrader 5 Software.

How to Close a Trade on MetaTrader 4

Open MetaTrader 4 Terminal Panel where open trade positions are displayed in MT4 Software by pressing MT5 shortcut Keys CTRL+T, then select the trade you as a trader want to close, then choose Close Order option - and this then opens a Order panel to close the trade - click the yellow Close button key to close the trade on the Meta Trader 4 trading platform.

How to Set Take Profit in MT4

TP Level can be set when opening a new trade on the Meta Trader 4 trading software. On the New Order window provided on the MetaTrader 4 software there is a field for Take Profit Order - this is where a xauusd trader will specify the take profit level for their open trade transaction.

TP Level also can be set when modifying an already open trade, to modify and set take profit for an open trade - right click on trade that you want to modify in MetaTrader 4 Terminal Window or on the chart, Select Modify Order, Select Take-Profit and set the Take-Profit Level you want for your open trade.

How to Set Stop Loss in MetaTrader 4

Stop-Loss Area can be set when opening a new trade on the Meta Trader 4 trading software. On the New Order window provided on the MT4 software there is a field for Stop Loss Order - this is where a gold trader will specify the stop loss order level for their open trade transaction.

Stop Loss Area also can be set when your modifying an already open trade, to modify and set a stop loss for an open trade - right click the trade you want to modify in MetaTrader 4 Terminal Window Panel or on the chart, Select Modify Order, Select SL and set the SL Level that you want for your open trade.

How Do I Set a Pending Order in MT4

To place a pending order open the New Order Window on the MetaTrader 4 software, then change the trade order Type from Market Execution Order to Pending Order.

XAUUSD traders can then select the pending order which they want to set, these pending orders are buy limit, buy stop, sell limit, sell stop.

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