How to install a trader's trading platform?
The main element, without which it is difficult to imagine modern exchange trading, is the trader’s trading platform, or as it is also called, the trader’s terminal.
It is in this program that transactions are opened and closed, technical analysis is performed and the work of trading advisors is carried out.
Today there are several dozen similar programs, but the most popular of them is Metatrader fourth and fifth versions.
The main advantages of the metatrader are its versatility; you can trade almost any asset in it, and the popularity of the program allows you to find it with almost any broker.
Columns in the MT4 and MT5 market overview hidden features of the trading platform
One of the most frequently used tools in the metatrader trading platform is the Market Watch information window.
It is there that you can find out the current purchase and sale price of an asset, the size of the spread and some other parameters.
Moreover, not all traders realize how many parameters, if desired, can be displayed in the Market Watch if you put the birds in the right place.
Moreover, the difference between metatrader versions 4 and 5 is simply huge; in MT4 you can use only 6 indicators, such as Bid and Ask, spred value, Maximum and Minimum prices, Quote time:
Basic account status parameters in the trading platform
Beginning traders, when opening their first transactions on the exchange, ask a lot of questions, although many of them can be answered directly in the trading platform.
The metatrader trading platform is distinguished not only by its functionality, but also by its information content; this allows you to get a lot of information simply by looking at the indicators of an open order.
The main thing is to know what all these numbers mean that appear after you clicked buy or sell and a new order appeared on the “Trading” tab.
At its core, this tab contains the most complete information on the funds in your account; open positions in the trading platform you just need to know how to use it.
Commission for the purchase of shares, its types and impact on the financial result of the transaction
Investments in securities can be called the second most popular way to save savings after bank deposits.
Moreover, in some cases, the increase in the value of the security and the amount of dividends paid allows you to receive a profit greater than the interest on a bank deposit.
But unlike deposits, investing in securities is not so simple; there is a commission when purchasing shares, and in some cases, a fee for transferring positions to the next day.
Therefore, it is worth figuring out which option for purchasing shares is more preferable for long-term investments, and which is suitable only for intraday transactions.
We use the data window to obtain complete information on the time frame
An important component of successful exchange trading is information about the parameters of the price movement of the selected asset.
Most traders in their work use such data as minimum and maximum prices, opening and closing prices, and the volume of completed transactions.
All this information is quite easy to obtain in the metatrader trading platform; to do this, you just need to hover over the desired candle on the chart of the currency pair.
After this, a tooltip will appear on the screen displaying the above-mentioned data. If the display does not occur, then most likely you did not check the “Show OHLC” option in the chart settings.
Pip value calculator for Forex and cryptocurrency pairs
The smallest indicator of a Forex price change is a point, or in other words, the last digit in the quote.
The value of this indicator is quite important since it often calculates the speed of price movement and indicates the parameters of trading strategies.
You can calculate the cost of a pip in Forex either manually or using a special calculator.
It is clear that the second option is preferable, since in addition to a quick calculation, it allows you to get acquainted with other parameters for the entered currency pair.
How to use the pip value calculator and what does it show?
What are Stop Limit orders for?
If you trade in the metatrader 4 terminal, you have probably never heard of the fact that there are pending orders of the Stop Limit type.
In our work, we are more accustomed to using buy or sell stop and buy or sell limit; with them, everything looks as simple as possible.
Stop orders are placed above the price in an uptrend or below the price in a downtrend, and are opened after the price has passed the required distance.
Limit orders imply the presence of a correction in the market and are placed against the trend in the expectation that the price will roll back and then move in the desired direction. An example of setting a Buy limit.
Everything here is clear in principle, but why did buy and sell stop limit orders appear in metatrader 5, combining the names of the usual pending orders?
Installing an advisor, indicator or script in MetaTrader in a couple of clicks
In the process of work, a trader often has to use third-party scripts for the MetaTrader trading platform.
After these scripts , advisors , indicators or templates have been downloaded on the Internet, they need to be added to the trading platform.
Previously, the process was carried out by transferring downloaded files to the appropriate folders of the trader's trading terminal.
But progress does not stand still, and after updating MetaTrader you may find that the Experts, Indicators or Scripts folders are suddenly not in their usual place.
After this, don’t be scared, in fact, everything has become much simpler and now you can install any of the scripts into your trading program in just a couple of clicks.
What is gap level
Almost every trader who uses pending orders the concept of Gap .
After a weekend or during certain events, the price makes a sharp jump and a price gap forms between quotes.
As a result, the pending order is triggered at a price that is not at all the one that was set, but significantly different.
As a rule, this is the price that first appeared after the gap, that is, the first quote after the price gap, but there is another execution option if the broker has a Gap level.
Gap level is a value in points that is set for each individual currency pair, if the value of the price gap is greater than or equal to this value, then the order is executed at the first quote after the gap. Otherwise, at the price of the pending order.
Metatrader for iPad, similarities and differences
The development of various communication technologies and the global Internet allows almost every trader to keep abreast of all events.
If previously currency speculators could only trade through special trading platforms that were installed only on a personal computer, now you can trade through your phone or tablet.
The fact is that progress does not stand still, and emerging smartphones or tablets are now an order of magnitude more powerful than the computers that you bought literally five years ago.
Naturally, with the advent of technological capabilities, programmers and brokerage companies do not stand still, so the appearance of such applications was not some kind of super news.
Methods of testing Forex strategies, choosing the best option.
Today, on the Internet on many sites dedicated to Forex topics, you can find dozens, or even hundreds of different trading strategies.
A huge number of them reflect the worldview of thousands of traders who put their heart and soul into creating their approach, not to mention the programmers who implemented these ideas.
However, everyone is quite aware of the fact that the market is volatile, so almost any trading tactic becomes outdated over time and begins to bring losses instead of profits.
This is why many novice traders, having adopted someone else’s strategy, as a rule, lose money and are forever disappointed in the opportunity to make money on the Forex market.
What is a swap on Forex and how much does its size affect profits?
A relatively small number of traders delve into the trading conditions that the broker provides them in detail, and even more so on all sorts of commissions and costs that do not depend on the company itself.
Such a commission as a swap on Forex , which is charged to a trader for transferring a position to the next day, is identical for any company and does not depend on any regulations or preferences of brokers.
An additional minus or plus that a trader can observe in addition to the spread has an easy mathematical justification. It is worth noting that a swap can either be beneficial or negatively affect the profitability of your trade.
The concept of swap and its meaning in trading
Many traders mistakenly believe that the size of the fee for transferring a position depends only on the broker, and some companies manage to speculate against the backdrop of traders’ ignorance.
In reality, a forex swap is the difference in interest rates between the two countries that participate in the currency pair, which is charged for rolling over the position to the next day.
Installing several advisors - options for solving the problem
Traders who actively use automated trading strategies, or in simple terms advisors, repeatedly encounter a
number of problems regarding the compatibility of various experts.
This is expressed in the fact that many simply do not know how to place several advisors on one account, in which cases it is necessary to differentiate between robots, and in which cases their joint work is acceptable.
This problem is not new, and with the understanding of the necessary diversification of risks from the work of advisers, it becomes even more relevant, because any algorithm is effective only in a certain part of the market, which makes your account vulnerable in bad periods.
This is why you can increasingly see a portfolio approach to working with advisors, when several robots work on one account. Thus, the trader achieves risk hedging , since at the moment when one robot, roughly speaking, loses the account, then the second and third at that moment generate income, compensating for losses.
Locking on Forex
A competent approach to fixing losses and money management is, perhaps, one of the main components without which even the most profitable trading strategy will sooner or later become unprofitable.
In essence, this is a special approach to fixing losses, which is delayed in time, although it requires large financial expenses on the part of the trader.
Unlike a standard stop order, where a loss is fixed immediately, a lock allows you to delay the closure of unprofitable positions, and with the right approach, turn the situation around with a plus for the trader.
Futures in the metatrader terminal
For the vast majority of forex traders, the MetaTrader trading platform is
the only tool through which they trade. It so happens that almost all brokers in the foreign exchange market provide access only through this platform, since it combines two main criteria, namely quality and a favorable price for its license.
Many beginners do not even suspect that MT4 and MT5 can be used not only for trading currencies and metals, but also the well-known futures and stocks.
The program makes no difference what asset the trader will trade; all the tools that are available to you depend only on the broker you choose. If the broker does not provide the opportunity to trade futures, then you will not see them in the list of instruments, which also applies to stocks and indices. Therefore, if you want to trade futures, I recommend that you familiarize yourself more thoroughly with the trading conditions of brokers.
Blocking the trader's account.
One of the critical troubles that you can encounter when trading Forex is the blocking of a trader’s account, and this phenomenon is quite common, and you can become a victim of it simply out of ignorance.
As a result, your funds are not only blocked, but you won’t even be able to access your account; all that remains is to pester support with questions about the reason for what happened.
So that you don’t have to deal with such a phenomenon, you need to know why your Forex account can be blocked.
Hedging methods. As a way to protect transactions
The main objective of Hedging is primarily to protect transactions and capital.
This result is achieved by buying the underlying asset and selling the derivative, or vice versa.
Thus, the investor or manager carries out insured operations, thanks to which the risk of loss of capital is almost minimal, and the only thing the investor loses on is commissions for opening and holding orders.
However, hedging is primarily used in the stock market, where the main goal is to save money from a possible price drop, while various other instruments can be used to compensate for losses.
In the Forex market, hedging is used extremely rarely, however, some instruments specifically from the Forex market can be used individually to protect against losses of the underlying asset.
Opening a new forex position
In order to start trading on Forex, you should open a position. This action is performed in the
trader’s trading terminal and, despite its simplicity, raises many questions among novice traders.
After all, you should not only open a position, but also choose the right direction of the transaction and set all the relevant parameters for the future order.
Opening a Forex position consists of the following stages: choosing a currency pair, trading volume, setting stop loss and take profit, type of order and direction of the transaction itself.
It is advisable to enter all settings immediately, especially for the value of stop orders.
In addition, before opening each new order, you should assess the current situation on the market in order to choose the right direction for a future transaction and the optimal time for its existence.
Stop loss technique.
There are many options for setting stop loss orders when trading forex, each method has its own advantages and disadvantages,
so it is best to choose the one that best suits your strategy and the amount of your deposit.
Forex stops are designed to protect the deposit of a large drawdown and the triggering of a margin call or stop out , the latter almost completely deprives the trader of his funds.
Let's move on to a review of the main techniques used to install safety stops.
1. By levels - these levels can be support and resistance lines, significant highs and lows, or simply significant levels.
Psychological levels of Forex.
Trading on the currency exchange is very closely related to psychology; it is psychological factors that often cause surges in
demand or supply, which cannot but affect the movement of exchange rates.
The Forex price usually moves in a certain price corridor, often the boundaries of such a corridor are the so-called psychological levels. Where are such levels located and what is their formation based on?
Psychological Forex levels appear in the area of round price values, since most traders believe that the price, having overcome a certain value, will most likely move further than turn in the opposite direction. Examples of such levels are marks - 1.2000; 1.3500, 2.7550.
Reducing risk or Risk management in Forex.
Quite a few articles have been written about risk control in Forex, but still this topic does not cease to be less
relevant; in the process of work, new solutions appear that can be applied to reduce losses.
Using the right approach to trading, you can practically eliminate the risk of losing your deposit, which is the main danger of Forex trading for a novice trader.
Risk management in Forex includes the following activities and approaches.
Placing pending orders
Strategies based on placing pending orders usually give more profit than working with
a standard trading scheme.
The reason for this phenomenon is the exclusion of the psychological factor from the trading process, which only interferes with making the right decisions.
A pending order allows you to set the price level upon reaching which a position will be opened; in addition, you also have the opportunity to immediately limit the amount of losses by setting a stop loss and plan the amount of profit using a take profit.
Placing pending orders is not as simple a task as it might seem at first glance; when setting it correctly, a number of important aspects and parameters should be taken into account.
In addition to purely technical issues, you should also determine where exactly to place a pending order, so that when triggered it would bring a profit and not be buried at a loss.
How to set a stop loss
A stop loss order is the main way to reduce losses when trading forex; in fact, it is an order to
force the closure of an order if losses have reached a certain limit. This approach will save the deposit from being completely drained.
The question “How to set a stop loss” worries every novice trader, so in this article I will try to describe the solution to this problem in more detail.
There are several options for setting a stop loss order, all of them are based on different principles and each trader chooses the most suitable one for himself.
Professionals say that the basis for placing stop orders should be the market situation, but there is an alternative.
And so let’s look at the most common ways to set stops, depending on trading conditions.
Choosing the direction of a trade during a gap in Forex.
such a phenomenon as a gap 
transactions at the wrong time,
A gap is a price gap that occurs in cases when the market, for some reason, does not have time to display the price movement in the form of a quote.
The size of the price gap can vary from several points to several hundred points, depending on the strength of the factors that contributed to the appearance of the gap.
Stop loss not working?
It would seem that setting a stop loss can protect a trader from various kinds of troubles and limit the size of possible losses in advance, but
where do accounts with negative balances and drained deposits come from?
First of all, these are accounts that were not opened with stop orders at all, but we will not talk about them; in practice, situations often arise when the stop loss simply does not work.
There are not so many of them, but they do occur, so any trader should be prepared for such surprises.
How to set take profit
Placing stop orders is one of the main points of Forex trading; in addition to the fact that they can
significantly reduce losses, you can also plan in advance the amount of profit received.
To do this, immediately when opening a new order, set the take profit size, which will allow you to close the position when a certain profit level is reached.
How to set a take profit - this question comes up quite often, so we will dwell on it in more detail. In addition to purely technical aspects, the correct calculation of the value of this order also plays a role.
After all, any trader hopes to receive maximum profit from one transaction, but at the same time, the price can make a reversal without reaching the desired value, and then most likely the transaction will be closed with a loss.
Closing orders when trading Forex
Many novice traders are mistaken in thinking that the main point of Forex trading is only the search for
entry points into the market; it is equally important to hold an already open position and close all open orders on time.
Closing orders sometimes plays a decisive role, since timely exit from the market allows you to get maximum profit and avoid losses.
It is precisely obtaining the maximum profit from one position that is the main indicator of effective trading, since often the number of unprofitable positions is greater than the number of profitable ones and it is necessary to cover the amount of total losses.
There are several options with which you can complete the transaction, the choice of the most suitable one depends on the strategy you used.
We will be talking specifically about profitable options, so we will not touch upon the description of how stop loss works; in this case, the order is closed at a loss, with the exception of some options when this stop order is manually transferred to the break-even zone.
Trader's web terminal.
Often in the list of offered trading platforms you can find a Web terminal, what is it needed for and what functionality does it have, if it makes
sense to use such a trading option.
Web terminal is a trader’s terminal located on the brokerage company’s website, that is, to trade, you just need to open an account and go through authorization; you don’t need to download or install anything on your computer.
To log in, you need an already opened trader account and data to access it; usually a link to the Web terminal is available in your personal account.
Number of simultaneously open positions.
Often, after the first open order begins to bring profit, your hands reach out to open another deal in the same
direction.
Should this be done or is it better to avoid this practice? What should be the optimal number of simultaneously open positions when trading Forex?
It is definitely not so easy to answer this question; it all depends on such things as the strategy used, the market situation and technical capabilities.
The main conditions under which it is worth adding positions.
How to set a trailing stop and what this order represents
Trailing stop allows you to get maximum profit from the current trend; it allows you to move the stop loss
following the price movement, and closes the position only if the trend reverses.
That is, if the price has moved 200 points in the desired direction, you will take all 200 minus the size of the trailing stop.
In fact, this is a trailing stop loss, which is used if you cannot constantly control the trade.
However, we should not forget that, unlike the latter, this order only works when the trader’s terminal is turned on, and if you turn off the terminal or computer, it will stop working.
The purpose of this tool is to close a profitable position with a profit and prevent a correction from completely destroying the positive financial result of the transaction.
How to set a trailing stop? - this order is placed in the trader’s terminal, after you have already opened a position and started trading. When working with this stop order, there are some nuances, which I will describe below.
Installing an indicator or advisor in the Forex terminal
This is the simplest stage of work, since the scripts do not need to be installed as standard programs, they are already
part of the trader’s terminal and to install them, it is enough to copy them to the desired folder. It should be noted that the advisor and indicator are installed in absolutely the same way, only in different folders.
The installation of an indicator or advisor is complete only if you have copied all additional program elements to the appropriate location.
Therefore, after downloading, carefully check what is in the received archive along with the main file of the advisor or indicator.
For a simpler understanding, let’s break the whole process into several stages:
1. Download the program itself or an archive with it to your desktop using the link in the article, and in some cases the download may automatically go to the “Downloads” folder of the browser, after which you will need to transfer the downloaded archive to your desktop.
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