How To Use The MT4 Platform

A free video tutorial from Luciano Kelly
Professional Forex Trader at Loretta FX LLC
Rating: 4.3 out of 5Instructor rating
6 courses
113,270 students
How To Use The MT4 Platform

Lecture description

In this lecture we discuss the MT4 platform, this is the platform used by traders to trade the Forex market. In this lecture we discuss how to place a trade on the platform and how to easily use the platform

Learn more from the full course

Forex Trading For Beginners

A Journey Of A 1000 Miles Begins With A Single Step- Make Money Trading Forex, Learn The Basics To Get You Started

01:47:05 of on-demand video • Updated January 2018

You will learn a simple strategy that you can use as a beginner to start trading Forex
Understand how to trade The Forex market
Learn how to place a trade on the Forex market
Learn how you can earn money trading Forex
Understand how you can protect yourself should the trade not go your way
Understand what are Japanese Candlesticks
Learn how to identify the various types of Japanese Candlesticks
Learn how to trade Japanese Candlesticks
Learn that Japanese candlesticks often indicates potential turning points in the market
Understand what are trend lines and how to draw trend lines
Understand the significance of trend lines
Learn that trend lines act as levels of support and resisitance
Learn how to trade trend line breaks and bounces
Understand the A,B,C,D price wave movement and how to identify these movements
English [Auto]
Here we have the empty four platform. Now this is a platform used by traders to trade on the forex market. Now here we have the price levels. OK. So every year we have the price levels and here we have the time and the date. So we have time and date here. We have price levels here now below the time of day. We have the different currency pairs. OK we have Newsline USD JPY Australian USD etc. We have a different currency peers here. Now here we have or candlestick charts. Now each of these candlesticks represents a moment in time and you can select the time frame over here. Here we have the different timeframe. So for example we're current on the one hour time frame. So each of these candlesticks represents one hour. OK we can go to the 50 minutes time from here and now each of these candlesticks represents 15 minutes. OK. And we can also go to the daily timeframe. We can go to the weekly timeframe the monthly timeframe et cetera Okay the highest timeframe we have is Montie timeframe. So each of these candlesticks represents one month. Okay. Now beside the candlesticks we have the tools over here we have the tools we have or Fibonacci tool. We have text so you can add text to the chart if you want to add a text for example ABC you can add text to the chart. Here you can check your font size of your phone and the color. OK so we can text we can add squares et cetera. Now also here we have the trend line. So that me draw a trend and not a trend line is one of the most powerful tools used in forex trading. OK we use this tool to post the fine turning points in the market. So here I have a trend line on my chart if I want to remove this trend line. I just simply double click here then I right click and I clicked delete. OK I can also edit this trend line by going here on trend line properties. I can choose if I wish for these trendline to show on all the time frames or I can click this and then I can select the specific time frame that I want. This trend line to be visible on. OK so that's that. We can also click re. If I get gray this trend line will now become a ray. OK. A long ray case let me remove this trend line here. Now you can always customize your chart for example. I'm going to customize this chart. Now all you need to do is right click the chart click properties here and now you can customize the chart to whichever color you choose. OK you can choose red yellow blue any color you choose you can also choose a color scheme from here. We were currently on black on white. You can go in green on back or you can go on yellow and black. Any color you choose. Now I'm going to add some indicators to this chart. Now to add indicators just go over here and you click this button here. And here we have a list of all the indicators that are on this platform I'm going to add the volumes in the curator so I'm going to click volumes. And here we have the settings for my volume in the quarter. Select the size line that I want and my visualization is set to all time frames. Everything is good. And now I just click OK and now my volume indicator is on my chart just like my moving average indicator is on my chart. OK. So now you can say templates for example if I don't want to add volume in the care to every chart individually I can just save this template. So just write the chart click. So templates click Save template. You can put whatever name you want for the template or you can set the template as default. OK. So we put this template as default we click save and it's going to say do you want to replace it. Click yes and now whenever I open a new chart I will have my volume indicator on that chart because this template is set as default. So let me go in and do that. I'm going to delete these Kern's appears here. So to the Curran's appear just right click close. OK right click Close right click Close right click close and that's it. OK. So I close all these currency pairs. And now I'm going to re open those currency periods. I'm just going to go over here to where it says create new chart button. And now you can add any chart you want just click it. For example I'm going to add the GBP USD fantastic we have the GBP USD and you notice that I have my volume indicator on this chart and the moving average in the quarter on this chart that is because my template is set to default OK. My customized template is set to default. So whenever I add a new chart it will automatically have my indicators and my customization. So let's add the user USDA that's the USD JPY let's add the USD Jad. That's a Euro JPY. These are the currency appears that I mainly trade you are JPY you are USD GBP JPY going at all these cards appears and the euro Aussie OK euro Ozzy can really make money with this Goran's appear because it moves hundreds of pips in no time. For example from here to here is one thousand six hundred pips. OK that's a lot of pips now. OK. So we add the currency peers that we won. Now you can zoom in on the chart just click here you zoom in on the chart or you can zoom out by clicking here. OK. You can also go in the past by clicking your screen and scroll back just like this. And we can go in the past. OK go in the past and if you want to go back to the president just click here and you will automatically take him back to the present. Now you can change the chart from candlesticks to line our bar chart. OK. But we mainly use candlesticks because candlesticks gives us candlestick partons and we can use candlestick patterns as buy and sell signals. OK. And that is explained in this course in this course you will learn how to use candlestick patterns. Buy and sell signals. Now let's look at our place a trade. How to place a trade if you want to place a trade just go here it says new arder click new order and you can place a trade selects. For example I want to place a trade. I want to place a trade one lot here you can choose the volume of your trade one lot ten lots etc. one lot pinion on your account size is $10 per Pipp. So if I'm trading one lot and I make 100 pips I just made a thousand dollars. Now if you have a small account one may just mean one pip. Depends on the size of your account. No we have Stop-Loss didn't you can set your stop loss by simply going here and you can set the amount of risk that you wish to put on the trade. You can also set your profit target here by clicking here and you can set your profit target the amount of profit that you wish to go for on that trade. No fear at it to place a trade just buy and the trade will be instantly executed because we have that type here. Market execution if you want to set a pending order you click pending order. OK. And would pending order we just select a price a future price and if the market reaches that price that's when the trade is executed. For example I can put a pen in order at this level here. Now if the market comes to this level my trade will be executed. OK so if I put a buy pending order here pending order to buy the new zealand U.S. They once the market comes down I will be automatically entered in these traits. That is a penny in order. Now if you want to place a trade you can just buy now. Buy and were automatically answered in this trade if you want to set your stop loss. You can click on the green line here go down and you'll see this you click I accept. OK do it again. And your stop loss is set. So here I have a stop loss that is 25 pips. I can now put a profit target here. Now my profit target is 47 pips. Stop-Loss is 25 pips. Now if you want to see this trade you can also click here terminal and you will see this trade just go over here to assess trade and you will see current trade. You will see your stop loss you'll see or take profit you'll see your size your trade is a buy. Here's the time. And here is your entry price. OK. And if you want to close you can simply click here and you close that trade. Or you can right click on your screen here and click close and it's just like that you're out of that trade. OK. Just like that you're out of this trade and if you're not seen on the currency it appears that you want just right click and click show all show all and you best will ensure that you have all the currency peers all the currency peers. OK. Now if you want to open a new account just click open an account or you can if you're logged out of your account you can always click on file and go on to log in to trade account and yeah you can change the language here. You can you can click here so you can see as much charge as you have open down here. Now if you want to go back to looking at one chart just simply click any currency pair down here. OK. And we're back to normal. OK so that is it for this lecture. This is all you really need to know about. Empty for platform I've been trading for years and this is really what I find important about anti-war platform. So go opening day more. You can use the link in the next lecture to open a demo account and start getting familiar with the empty four platform.