Let's start our lesson of MetaTrader 4 forthe Mobile Version.
I believe, every trader on the net do notfelt unfamilar with the name MetaTrader.
In fact is the most used trading platformin the world.
It even had over 10 million downloads already.
Is free to download Metatrader, nor it hasany charges.
It is available on Play Store and AppStorerespectively.
There are 2 types of MetaTrader, MetaTrader4 and MetaTrader 5.
Most of the user remain using MetaTrader 4although the MetaTrader 5 has been out for years.
Probably has to do with account registeredunder MT4 are unable to login to MT5 unless re register one.
Anyway, let's dig into the platform.
Stylish, whit-ish, simple and beautiful, I wasattracted to this platform since the beginning of my trading journey.
Nah, actually there were limited trading platformavailable on the market.
So learn and stick with it, you will gonnause this for years.
At the first launched, you're automaticallyregistered a free demo account by MetaQuotes, to allow you to access the market, demo-ly.
You have to register yourself one since, tradeis disabled with this free demo account.
So, on the left side of the screen we havethe symbol sets, you're seeing different currencies combined, say EURUSD known for EUROs US Dollars, with 2 different price quotes.
Left is the sell price while right is thebuy price.
The word Spread means the price differencesbetween the buy and sell.
Low means, the lowest rates of the day, andhigh means the highest rates of the day of that certain currencies symbol, based on theeveryday's opening hours of Sydney.
On the right, we have a chart of the selectedsymbol sets, There are 3 different types of charts available, Line, Bar, and Candlesticks.
This is type of charts are known as the Candlesticksor the Japanese Candlestick charts, it is popular and are widely used by traders forit's non-complexity and clear picture given to traders of the closing and the openingprice of each candlesticks bar.
Chart mode is changeable according to your preferences, just tap the little gear icon here.
line type, and select the one you prefer.
The Bar Charts looks a Dominos to me, if youknow what I mean.
Then we have the Line Charts, which lookssimple, overly simple.
Oh well, I prefer Candlestick charts anyway.
Did you seee the word M5 here? It means, 5 Minutes TimeFrame per Candlesticks, some trader prefer trading with a bigger timeframe while some preffer a smaller one.
We can change it by tapping on the chart here.
a circle appeared, with numbers and words.
M stands for minutes, while H stands for hours, and D stands for days, then W stands for Week.
You can switch around to get a bigger or smallerpictures of the history of selected currency symbol.
To determine if this a buy or sell zone, orjust to study the chart.
This is an indicator window, RSI stands forRelative Strength Index, momentum type of indicator, used to judge if the market isoverbought or sold.
It is not absolute to install only a singleindicator, we can actually add or remove them.
To do it, tap on the screen, tap the f symbolhere.
We have two options here, adding an indicatorto the Main Chart, or blend it to the existing indicator window.
To give you a clearer view, let's try thesecond option first.
Adding these much of indicators are not recommendedanyway.
We're not going to use these much indicators, let me remove them.
Let's try the first option.
Some indicators are added directly to thechart, say Moving Average.
Some indicators has an individual window likethe RSI we've saw earlier.
Mainly, there are 4 types of indicators, Trend, Momentum, Volume and Volatility.
It is advisable to study their propertiesand blend them together for a greater results on your trades.
At the bottom, we.
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We extend the size of the window a little.
We're seeing four names here, Balance, Credit, Equity and Free Margin, there's another two.
Margin and Margin Level.
This is your account's hit point, your missionis to secure them from getting to $0, especially as a new trader, unlss your account is notfunded yet.
Balance stands for the amount of money you'vedeposit plus the profit or losses of all finalized trade.
Credit usually stands for bonus, like depositbonus or welcome bonus offered by your broker.
Equity represents the real-time value of yourtrading account, this number is what you should focus.
Free Margin is calculated by equity minusmargin, which every trade open require margins, depending on the leverage you've pick.
Like this, a portion of your balance was heldoppose to the volume of units you've purchase, known as margin.
Free margin is the number after minusing equity.
And Margin Level is the ratio of Equity toMargin.
We will continue this later.
We got 3 different tabs here.
Trade stands for any open position includingpending orders, here is where you manage your trades.
History are the record of all closed trades.
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Journal is the records of activities you'vemade here including login, log out, opening trade, close trade, switch tp point with timestamp.
It's a log.
In some cases you enjoy trading with 10 accounts.
To add or switch an account, probably addingan account from existing broker.
Tap the little head icon here.
Here shows an account which automaticallyregistered by MetaQuotes by default which trade are disabled.
and XM Demo account I'vepersonally register.
Depend on your needs, if you are a new traderwho are learning, please.
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Don't trade based on luck or pushed by energies, get yourself a demo account by tapping open a demo account.
Let's take XM.
com as a sample, eerr, if youwant to be referred under me, you can use my link below.
Go to XM.
comClick Open a Virtual Account.
Get all the details filled, of course it'sa demo account, we can fill whatever name we want.
Then for the Trading Account Detail, on TradingPlatform type, select MT4 since we are using MetaTrader 4.
Do not pick MT5 as MT4 and MT5 are not interchangeableas mentioned at the beginning of the video.
Account Types, any one, doesn't make any different.
Leverage, Leverage are simply used as a riskmeasurement, the lower, the lesser amount of volume you're allowed to trade, becauseit required higher margin.
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We want to go 1:25 if you have bigger balanceor 1:888 if you have smaller balance.
And your account password, any random passwordwill work, just a demo account, aahhh.
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Click the Open a Demo Account, confirm youremail address then you will receive an email, with your account number and your server information.
Back to MT4 Mobile, tap Login To An ExistingAccount Type the Server Named you've been providedearlier.
Select the Server Name, some brokers comeswith many server names, so make sure you keep the email.
Eenter your login detail, including the randompassword you've created earlier.
On the left side, we have the mailbox, usuallymail or alert from your broker, regarding issues like changes in margin, or overnightfees, or trading hours, I ignore them because I don't receive them.
Then, we have the news feed, depending onyour broker, some don't update at all, just ignore them.
We have the economy calendar which you haveto download it seperately, I'm not installing extra apps on my phone simply a lot of datatracking and styff.
As an alternative, ForexFactory provide afree economy calendar with good sources of informations and discussion too.
This is the chat room, or notification status, when you are a member on MQL forum, which is free, it's good to communicate around.
Then, the version of MT4, 2001 to 2019, thatmeans their copyright has not been renew on 2020.
Anyway, give them a 5 star rating, they deserveit anyway.
Now, you're starting to trade, you sweep thescreen for awhile and couldn't find the trading instrument you want to trade, for exampleCrude Oil Future.
But your broker listed that as tradeable.
Not really, we just have to treasure hunts, the little + icon here is where all trading instrument that were hidden in the abyss, no dragons were guarding anyway.
Oh anyway, let's see if can find Crude OilFuture here, yep.
That's how you add a trading instruments.
Next we gonna do some drawing on the chartlike a kid, to flourish and make it alive, as if it's telling us their stories.
Tap on chart, there's this boxes here, wewant to tap it.
Tap on the + and I'm sad to tell I know nothingmore than the vertical, horizontal and trendline.
Let's try it anyway.
Look at my master piece, what can you tellfrom my drawing? Actually, these drawing are meant to findit's support and resistance price, known for the bounce or breakout range.
Don't worry, I will create a video simplifiedand explain how it works.
If you're new to this field, make sure toleave me a “un.
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believable.
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” comment.
Use the dumpster icon to remove any unneccessarydrawings.
Then, this is crosshair, with data windowsenabled.
Hover over a specific candlesticks gives usan idea the high, low and the volume of transaction made on that candlestick alone.
Pretty cool.
Let's start a trade, let's be professionalfor awhile.
Take a look at EUR/USD in a 4 Hours TimeFrame.
We're seeing the resistance level is roughlyaround here.
And the support level is around here.
For the past few hours, EUR USD has been showinga bullish sign, but their rocket out of fuel.
Get the crosshair out, and check it's totalnumber of transaction.
A couple of hours back then, this candlestickwas struggle to move upward or downward, with a total trading volume of 12762, or 127.
62billion dollars.
And the last candle were moving downward withthe same trading volume.
I have sufficient reason to believe, thisis moving down more.
But this is a buying zone.
Probably not a good entry point.
Oh well, let's start a trade anyway.
Tap and hold the symbol sets you want to trade, then tap new order.
You are given 3 optionsMarket Execution means live execution, that means your order are handled and executeddirectly at the current market rate.
Buy orders, you make an reservation of a pricebelow the current price, say here.
When the price is hit, your order is trigger.
Sell order is the opposite actually.
Buy stop is that, you make a reservation ofa price ABOVE the current price, say here.
When the price is hit, your order is triggered.
Stop order is the opposite too.
This number here, is the amount of tradingsize, depends on your broker.
Some offer, Standard lots, while some offermini lots.
It varies between broker.
But earlier we register as a standard account, that means 100, 000 units as per 1 standard lot.
Saw that? Or in another word, every 1 pips of movementcost $10 on EURUSD.
I'm not trying to make it complex, in simplewords.
Keep this number as small as possible.
The two little box here with numbers of zero(ssssss), is.
Right for Take Profit and Left for Stop Loss.
For when that certain price is reached, tradeis closed in terms of stop or take profit.
You can leave it blank otherwise set an approriateamount and tap Sell or Buy by market by your choices.
We have an opening trade now, saw the Margin, and Margin Level? Depending on the leverage you've picked earlier.
The smaller the ratio you've picked, the biggerthe margin required.
This is how free margin is calculated, equityminus free margin.
And Margin Level.
But don't get this number to fall below 50%.
Otherwise you will get a margin call.
All trades will be closed automatically.
Let's continue the part we've stop so, incaseyou forgot to set the Take Profit and Stop Loss, you are allowed to modify your tradeslater on, except weekends during market closed.
Not sure why MetaQuotes doesn't allow that.
By tapping here, you get a trading summary, how much you're profitting or lossing.
By tapping here, you get to modify the stoploss and take profit.
I'm sad to say, I want to close this trade.
It proven it's not a signal.
Tap, tap.
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Confirm if you want to close the trade.
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Confirmed.
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Good bye 27 cents.
Please be warned, never trade single handed.
There are times, where you mistaken tappedthe wrong button which leads to losing trades like me.
And the closed trade willl be shown on history.
And Journal, records of your activities.
Hope you learn a thing or two here, will beposting more educational stuff in near futures, like the basics of forex.
Then, Thanks for watching, if you have anyquestion, let me know in the comment box.
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