In this article, we will describe the process of installation of the Metatrader 4 trading terminal and also speak about kings of charts available in metatrader.
First of all, you should download the installation file of MT4. Having done it, launch the file on your personal computer and follow instructions.
Step 1 – Installation of the Metatrader 4 trading terminal
Advice: If the system asks you about permission to launch the file, you should press “execute”.
Step 2 – Selection of the language that will be used in the process of installation
Advice: Select the language and press “Next”.
Step 3 – Information about MT4 use.
Advice: Read the information and press “Next”.
Step 4 – license agreement.
Advice: tick the checkbox to confirm that you agree to follow the given license agreement and press “Next”.
Step 5 – select a folder where you want to install Metatrader 4.
Advice: select the folder for mt4 and press “Next”.
Step 6 – select a group in the menu “Programs”.
Advice: If necessary, change the name of the group of programs and press “Next”.
Step 7 – MT4 is ready to be installed.
Advice: press “Next” and the process of copying files to your system will start.
Step 8 – Wait till the end of the process of installation.
Step 9 – Installation is finished.
Advice: Now you can launch the terminal, having ticked the checkbox “Launch MetaTrader 4” and pressing “Done”.
Step 10 – Fill in the form with personal information for opening a demo account
Advice: Whe you open MT4 for the first time, it will offer you to open a demo account. To do it, fill in all the personal information and tick the checkbox that you agree to receive news by e-mail. Then press “Next”. If you already have a demo account, press “Cancel”.
Step 11 – Select a server
Advice: select a demo account server in the window and press “Next”.
Step 12 – information about your account
Advice: You will receive login and password for your demo account. Press “Done” and you will see a client terminal that is completely ready for work. You can start trading on Forex.
Kinds of Charts in Metatrader – Lines, Bars, Japanese Candles
There are three different kinds of charts in metatrader.
Bars are charts where each bar shows maximal (top point) and minimal (bottom point) prices, opening price (a dash to the left of a bar) and closing price (a dash to the right of a bar). It is recommended to use timeframes no more than 5 minutes I case of bar charts. You can activate a bar chart by pressing the corresponding button on the standard toolbar of mt4, going to “Charts – Bar Charts” or pressing Alt+1.
2. Line Charts
A line chart is built on the basis of closing prices (minute, hour, day. ect). Prices are connected with a simple straight line. You can activate a line chart by pressing the corresponding button on the standard toolbar of mt4, going to “Charts – Line Chart” or pressing Alt+3.
3. Japanese Candles
Japanese candles are the most obvious way to show relation of supply and demand on the currency market. They provide the best vision of market situation in comparison to other kinds of charts, because the show not only the direction of movement but its strength, too. You can activate candlesticks by pressing the corresponding button on the standard toolbar of mt4, going to “Charts – Candlesticks” or pressing Alt+2.
2012 BJF TRading Group inc.