Working with the terminal

mr.traderFebruary 7, 2024

2 982

How to change (set) the investor password in the MetaTrader 4 terminal?

In order to change (or set, if you do not have one) the investor password in the MetaTrader 4 terminal, you will need to use the following instruction. It should be noted in advance that you will also need the trading password for the trading account you are interested in. It is necessary to have it at hand. So, open the terminal MT4, connect to the trading account and then follow the instructions. 1. Enter Service menu 2. In the Tools menu go to section Settings 3. In the window that opens go to the Server tab 4. Click the Change button on the tab that opens. 5. A dialog window to change the password 5.1. In this window you will have to enter your trading password 5.2.

mr.traderSeptember 1, 2023

0 874

Statment (Statement, trade report) in MT4

The Statement is the official detailed report on the trading activity on the market, generated by the trading terminal. How to make a Statment in MT4? Go to the "Account History" tab; right-click on the context menu; click "Save as detailed report". The statment will be available in the folder, in which the MetaTrader 4 terminal was installed, in the DetailedStatement file. Besides the trading history the statment contains the following indexes: Gross Profit - total profit of the positive transactions; Gross Loss - total loss of the negative transactions; Total Net Profit - the difference between the total profit and the total loss; Profit Factor - the profitability index, which shows the Gross Profit to Gross Loss ratio. The value...

mr.traderJuly 31, 2023

0 1,094

Buy transaction (buy, buy, long transaction, long, long)

What is a long? A long or buy trade is the name of a buy trade that a market participant opens in the expectation of profiting from an increase in the price of an asset. The very name of the transaction to buy long or long bargain, is slang and appeared on the stock exchange, because the rise in stock prices is considered to be a longer process than their fall. Market participants who open buy trades, that is, play to increase the price of an asset, are called bulls. Bulls are thought to push the price upward with their horns. The opposite of a long trade is a sell trade or Short (short, short trade), respectively, market participants playing down...

mr.traderJuly 28, 2023

0 878

Limit order

What is a limit order? A limit order is a group of pending orders in which the opening of a position is made at a price better than the current one. The price is supposed to rise or fall to a certain limit, after which it will reverse in the desired direction. Limit orders are characterized by the word limit which is used in the name of the order. What types of limit orders are there? There are 2 types of limit orders: Buy Limit Buy Limit is a limit order for purchase. A position to buy is opened when the price decreases to the value shown in the order. A Buy Limit order is usually used for purchasing when the price decreases to the support line of the uptrend or to the lower limit of the flat when calculating the...

mr.traderJuly 26, 2023

0 828

RSI indicator (relative strength index)

Relative Strength Index (RSI - abbreviation from English relative strength index) is one of the indicators of technical analysis. RSI helps to determine the probability of a change in the direction of price movement, as well as the strength of the trend. The essence of the indicator is that the price can not move indefinitely in the same direction, and sooner or later there will be a trend reversal. RSI has only one line on the time scale and is located below the price chart. The indicator always moves in the corridor from 0 to 100%. It should be noted that an RSI value below 20% is considered an oversold zone, and above 80% is considered an overbought zone. The space between the overbought and oversold zones is called...

mr.traderJuly 6, 2023

1 879

Ichimoku Kinko Hyo indicator

What is an Ishimoku indicator? Indicator Ishimoku Kinko Hyo (Ichimoku Kinko Hyo) - trade technical indicator, designed to reflect the trend, support and resistance levels. What is the purpose of the indicator? Ichimoku Kinko Hyo indicator is used to identify a market trend, support and resistance levels and to generate buy and sell signals. The optimal timeframe for the Ishimoku indicator is a week or a day. It can be used in conjunction with other technical indicators or be solely used for trading. The Ishimoku indicator is sometimes called a ready-made trading strategy. How to install the Ishimoku indicator on the price chart? The Ichimoku indicator is included in the standard set of technical indicators of the MetaTrader 4 platform. To install it on the chart, you...

mr.traderJuly 2, 2023

0 1,456

Take Profit. How do I set a Take Profit?

What is Take Profit? Take Profit is an order to automatically close the deal with the profit when the price level is reached. Take Profit is translated into Russian as "Take Profit", this order is usually set when a trader cannot continuously watch the open trade or expects sharp price movements. How do we set Take Profit? Take Profit is set for a Buy trade above the order price, as we anticipate the price to move upwards. For example, if we opened a buy trade at EURUSD at 1.12595, and we want to make a 50 pips profit without being in the trading terminal, we should set a take profit...

mr.traderJune 15, 2023

0 363

Tick volume

What is tick volume? Tick volume reflects the number of ticks per unit of time, and the "tick" itself is nothing but the change in price of an instrument by one basis point. In fact, this type of volume is a simple oscillation counter and is not connected with the volumes of deals. In simple words, tick volume shows how many times the price changed during a certain period of time and is not related to the real trading volumes. How to know the tick volume? Tick volume is available in any MetaTrader 4 terminal, and, as opposed to exchange volume, is available for all trading instruments provided by a broker. Note, the tick volume shows the amount of price change for a particular...

mr.traderJune 15, 2023

0 597

Optimizing a trading Expert Advisor in MetaTrader 4

What is the optimization of the trading advisor in MT4? Optimization of the trading advisor in the MetaTrader terminal tester - the process of research of the trading advisor in the terminal, which allows by enumerating the basic external parameters of the robot in a given range with a given step, to find the best option of their ratio for the current market. Why do you need to optimize a trading Expert Advisor? The currency market is constantly changing. The volatility coefficient of currency pairs, the dynamics of their movement, etc. are changing. Sometimes even the most profitable trading robots become loss-making over time. For trading to become profitable again, optimization of Expert Advisors is necessary. How to optimize Expert Advisor in MetaTrader 4? Optimization of Expert Advisor is done in the strategy tester of the MT4 trading terminal, no additional...

mr.traderJune 14, 2023

0 471

MagicNumber (magic number) MQL for MetaTrader

What is MagicNumber? MagicNumber MQL for MetaTrader is a "magic" identifier of an open order, which is usually used for correct teamwork of Expert Advisors and traders in MetaTrader 4. What is the essence of MagicNumber? The MagicNumber parameter is used to allow several trading experts or experts working in parallel with a trader to correctly process the orders which have been opened by them only. As a result, when working (modifying, closing, deleting, etc.) with already open orders, the EAs process only those that have this magic number. The MagicNumber tool is typical only for the MQL programming language in the MetaTrader terminal. To use Magic numbers in manual trading is not...

mr.traderMay 20, 2023

0 452

Pending order (pending order)

What is a Pending Order? Pending order (Pending order) - trade order of the client to the dealer or the broker to open a trading position to buy or sell a financial instrument at a certain market rate, marked in the order, laid down by volume and with specified levels of StopLoss and TakeProfit. What types of pending orders are there? There are four main types of pending orders: Buy Limit - kind of pending order for transaction opening on purchasing at "Ask" price achievement the established level, which is under the current price of the instrument. Buy Stop - kind of the pending order which also represents the order of client to the broker to open the deal on purchasing at the price being higher than the current market rate. Sell...

mr.traderMay 20, 2023

0 462

Script

What are scripts for ? A script is a user program written in the Meta Quotes Language programming language which allows you to automatically perform a programmed action in the MetaTrader trading terminal. What functions do scripts perform? Scripts mql can perform the following functions: Informational - providing various trading information (on the trading account, on the currency pair, candlestick time, etc.) Trading - the execution of trade operations (placing an order with a specified level of stop-loss, closing a certain type of positions, etc.) Visual - execution of operations with price charts of currency pairs (creating screenshots, drawing trend lines and levels, creating non-standard timeframes, etc.) What makes scripts different from advisors? In contrast to other types of programs,...

mr.traderMay 8, 2023

0 319

Stop order

What is a stop order? Stop order is a type of pending stock exchange order to buy above the current level (Buy Stop) or below the current price (Sell Stop). These orders are set most often on strong, significant levels in order to get profit even in the absence of trader near the terminal. Stop order data is stored on the broker's or broker's server, so there is no need to leave the terminal turned on. What is the difference between a limit and a stop order? The difference between a limit and a stop order is the price at which the order will be opened: A stop order is a transaction at a price which is ALWAYS worse than the price at the moment the order is placed. That is, a sale at a price lower than...

mr.traderMay 7, 2023

0 631

Forward test in the market

What is a forward test on ? Forward is one of the stages of testing a trading strategy or an Expert Advisor on , which involves simulating its use in the real-time trading process on historical data. Forward test allows you to determine the quality of orders execution by a mechanical expert, as well as the effectiveness of the trading strategy to reduce the risks of financial losses from its use. Forward test statistics must contain the main performance parameters, including expected payoff, the number of profitable and loss-making trades, the average profit and loss values, the recovery factor, etc. Why perform a forward test of trading robots? The main purpose of forward testing is to check if the Expert Advisor results have not changed for the worse...

mr.traderDecember 18, 2022

0 297

Leading technical indicators

What are leading indicators? Leading indicators are technical analysis indicators for exchange markets, including those, which are used for short-term price forecasting. As the name of these indicators says, leading indicators must warn a trader about possible price reversals. Why do leading indicators matter? Leading indicators are usually used for determining the moments when an asset will be over-sold or over-bought. The basic premise behind leading indicators is that when an asset is considered oversold, its price will soon begin to rise, and when an asset is overbought, its price will soon begin to fall. Which indicators and binary options are considered leading indicators? Most often...

mr.traderDecember 15, 2022

0 1,024

Pending Buy Limit order

What is a pending Buy Limit order? A Buy Limit order is a type of pending order used by exchange traders, which is set on the price chart in advance so that it is possible to buy an asset at a price cheaper than the current price level. The slang name for pending orders is "pendants" or "pendants". The principle of the Buy Limit order is that the trader plans to buy the asset ALWAYS at a more favorable price than the current one. Suppose we have an uptrend in the EUR/GBP pair. We assume that the price will soon reach the trend support line at 0.7335, form a rebound and continue the uptrend movement. The current price in the pair EUR/GBP is...

mr.traderDecember 4, 2022

0 547

Bid price

What is the Bid price? Bid price is the bid price or the highest price at which an investor is ready to buy an asset: a share, a currency, another security. Actually, the Bid price is the current price at which a trader is ready to sell his asset. What is the Bid price for? In the off-exchange Forex market the Bid price together with the Ask price is reflected in a two-way quote and is the smaller of the two. The Bid price is used to open sell trades as well as to close buy trades. The difference between ask and bid price is called spread. In the trading terminal MetaTrader 4, a chart of asset price is drawn at bid price. What orders are executed at bid price?

mr.traderOctober 24, 2022

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What is a swap?

What is a swap? Swap is a trade and financial transaction involving the exchange of different assets and combining the purchase (sale) and reverse transaction (sale or purchase respectively) of the same asset. In this case the transaction is not executed immediately, but after some time under the same or other conditions. Swap is understood as a fee charged for transferring an open position to the next day. Swap is also called rollover or overnight. What types of swaps are there? There are several types of swaps: swap for extended securities; currency swap (purchase of foreign currency with immediate payment in local currency and subsequent sale of the purchased currency); swap...

mr.traderOctober 23, 2022

0 282

Trading platform (terminal)

What is a trading platform at ? A trading platform (terminal) is an exchange software product designed to work online in the financial markets. The trading platform allows traders to receive online data on the trades (current and historical quotes of the selected assets, the trading volume for the instruments, the possible buy and sell prices, etc.), to carry out technical analysis, to make transactions in real time, to work with trading orders and receive messages from the dealing center or a broker. What trading platforms are there? Modern trading terminals are divided into several groups: Standard terminals These are common trading platforms, the most common among which are MetaTrader 4 and MetaTrader 5 terminals. Alternative to MT4 and MT5 terminals are...

mr.traderOctober 21, 2022

0 1,053

MetaQuotes Language 4 (MQL4)

What is MQL4? MetaQuotes Language 4 (MQL4) is a programming language for trading strategies for exchange and over-the-counter (Forex) platforms, developed by MetaQuotes Software Corp. Why do I need MQL4? The main developments in MQL4 are the Expert Advisors that allow you to automate the management of trading processes and are used to create your own mechanical trading strategies. The language also allows you to program technical indicators for stock trading, scripts and function libraries. MetaQuotes Language 4 contains functions for the analysis of current and previous quotes, for working with indicators, functions for managing trade positions, etc. What programs can be written in MQL4?