Currency trading on the foreign exchange market is a good modern way to test your trader skills. With a lot of room for growth and improvement, Forex trading can be a simple hobby, a side hustle, and eventually - even your main source of income.
The history of the exchange of goods is a fascinating one. The shifts in different currency standards kept shaping and refining our markets. The introduction of the free-floating system in 1973 - a monetary system in which exchange rates can move by the sheer influence of market forces without government interference, has opened the gates for currency speculation and interference.
Forex trading in the past required a different skillset and a lot of insider knowledge. The internet and the systems it created have eliminated the barriers that constrain potentially talented traders and gave them full access to the foreign exchange market. In this article, we will discuss MetaTrader 4 (MT4) - the gold standard tool for Forex trading, its interaction with a broker of your choice, and other advantages it presents.
The customizability of a trading platform
The beauty of MT4 is its applicability for everyone. Every beginner has to recognize this platform because it also offers a great, progressive learning experience that will help you either master its customizable tools or accumulate enough knowledge to move on to more advanced platforms.
Setting up MetaTrader 4
Once you create your account, download MT4 to a device of your choice. A desktop version on a Windows Operating System will give you the most benefits without the necessity of other applications to ensure its proper functionality.
To start your trading career, click on the "tools" section in the toolbar and select "new order". To speed things up, you can also use the F9 shortcut. The order window can be a bit overwhelming for beginners, but understanding its components will quickly help you grasp the basics of currency trading:
- Symbol window gives you options of markets you can trade
- Volume adjusts the number of contracts
- Stop loss helps you stop the trade in unfavorable circumstances to cut your losses
- Take profit locks in your desired profit to minimize risks and avoid harmful fluctuations
- Type helps you adjust the time when your trade opens. Choose "instant execution" to execute the trade instantly.
Space for growth and scalability
MetaTrader 4 has plenty of add-ons and tools that will help you personalize your trading experience. Expert Advisors (EA) are the supreme helpers that help you automate your trades if you choose to do so. Customization is the best way to organize the bombardment of market information into quickly understandable segments. Virtual Private Servers (VPS) help intermediate and advanced traders realize their trading strategies by improving other factors that increase the margin of error for your decisions. VPS Forex trader is a great provider that offers servers with customizable hardware and locations closest to your broker to reduce latency and speed up executed trades. Tech-savvy users thrive in a modern Forex market by maximizing technical tools and using them to their advantage. If you want to be a successful trader, focus on technical proficiency to ensure growth and scalability.
Currency trading on the foreign exchange is a great opportunity for individuals looking to test their trading skills. Unlike stock trading, it does not require a big portfolio to begin your career. While the availability of Forex trading makes it a very competitive market, persistent, ambitious, talented traders have more leeway to manipulate available tools and develop unique trading strategies.
The effects of information technologies have brought convenience to the world of trading. With gatekeeping out of the way, tech-savvy geeks can dominate the market from the comfort of their own homes. With enough interest, the hobby can turn into a profitable side hustle and even your main source of income.
To satisfy the needs of ambitious traders, we have a fair share of useful trading platforms that offer customizability and valuable insight to navigate your system. MetaTrader 4 (MT4), a platform developed MetaQuotes Software, created a gold standard for online trading. Even after 17 years since its release, it remains the most popular platform due to its immense customizability.
In this article, we will teach you to execute your first trade on MT4. With great features and scalability, the platform offers a great learning experience and growth opportunities.
Create an account and download a platform
The first step does not require a lot of explanation. The installation process does not differ from the ones we encounter on daily basis. Once you create an account with the broker of your choice, download the platform for free and proceed with the installation instructions.
Execute your first order
Once you have your account up and running on the platform, locate the "New order" button on the toolbar or press the F9 shortcut. Now adjust the parameters to execute the desired trade. The "Symbol" window lets you choose the currencies, while "volume" adjusts the amount. Different types of orders help you automate and manipulate the timeline, but for your first order, choose instant execution.
Great customization potential
What makes MT4 attractive for beginner traders and a good platform for long-term traders is its impeccable customization. Graph changes and indicators help us track changes to make appropriate decisions.
However, the best tools that can help you turn a hobby into a decent livelihood are Expert Advisors (EA). The majority of trades on Forex today are automated. A lot of simple executions are easily manageable with algorithmic automation, which gives great scalability opportunities.
What separates great traders from good ones is the maximization of software and hardware capabilities. To get greater internet speed and locations close to a chosen broken, we recommend renting Virtual Private Servers (VPS). VPS Forex Trader is a great company that offers customizable servers on which traders can run their instances of MT4. With servers for trading in high demand, this provider offers great flexibility to fit any trading strategy. When combined with EAs, automated trading does not encounter unfortunate interruptions, such as power outages and other risks that may force you to turn off your computer. Such complementary tools will help you maximize the benefits of MT4 - the most popular Forex trading platform.
Forex trading is a great opportunity for proactive, business-oriented individuals looking for trading experience and passive income opportunities. While trading on the foreign exchange market was far less accessible and dependant on less efficient communication devices in the past, today, anyone can try their luck in Forex. While it may be easy to get into, trading has a high skill ceiling, allowing you to turn additional income into serious wealth.
Modern Forex trading operations get executed on digital platforms that assist the process with a multitude of tools for displaying valuable information and automating certain parts of the process. While you can find plenty of software supported by brokers, MetaTrader 4 (MT4) is an old-timer that struck gold and captured the hearts of most traders. The customizability of the platform helps users create the most comfortable, personalized setups depending on their skill level.
If you are a complete beginner, you are in luck. In this article, we will help you take the first steps in the world of Forex trading. The popularity of MT4 makes it the best choice for newbies because you will have tons of educational sources available to guide you through your journey. Here is how you trade on Forex using MT4!
Understanding the Foreign Exchange Market (Forex)
While you will encounter plenty of praise for the flexibility of MT4, let's gloss over the basics of Forex. The market outshines stock trading and other markets due to its size and accessibility. Just like cryptocurrency trading, Forex currency exchange runs continuously, 24 hours a day.
To start trading on the Foreign Exchange Market, find a broker and download a free MT4 platform. The broker will act as a middleman that grants you access to the market, while the software allows you to modify the presentation of data, automate steps with robots - Expert Advisors (EA), and of course - perform trades.
Placing your first order
To place your first order, click on the "order" icon. Here you can select the desired currency pair, make adjustments to your position size in the "Volume" box, choose whether you want to sell or buy by clicking on the color highlighted windows. The "type" box grants us different types of execution depending on certain conditions. For your first attempt, leave it at "Instant Execution", and experiment with other options once you get a deeper understanding of the market.
How can I get the most value out of the platform?
The modern, digitalized trading environment is dominated by the most efficient means of communication and automation. More than 70% of executed trades on Forex are automated. While MT4 provides great tools for algorithmic execution, Virtual Private Servers give traders the best locations, hardware, and internet speed for forex trading. VPS Forex Trader is a great hosting provider that offers customizable options for experienced traders who want to maximize the precision of executed trades on Forex. Remote connection to a server allows traders to monitor and tweak the sequence of performed tasks, while a superior VPS location that is close to your broker and great internet speed minimize the margin of error and the luck factor in Forex trading. To get the most out of the MetaTrader 4 trading platform, set it up on a Virtual Private Server.
Thanks to the internet, anyone can start trading on the foreign exchange market. With modern customizable software, Forex, and cooperation with available brokers, you can start exchanging currency from the comfort of your own home. Testing your trading skills can be a great way to generate passive income and diversify work opportunities in the future. However, the modern trader has to possess some level of technical proficiency to compete in an easily accessible market.
Because the web creates an immensely powerful system that connects us and allows us to communicate with individuals all around the world, there are more Forex traders that trade through broker servers than ever before. Anyone can start executing their first trades in no time, but the ones that want to turn it into a living utilize both old tricks of the trade, and new technological solutions to manipulate software and achieve optimal efficiency.
Modern trading platforms like MetaTrader 4 (MT4) have revolutionized the foreign exchange market. The customizability of MT4 helps both beginner and experienced traders with adjustable data presentation, scalability, and even automation. Expert Advisors (EA) are the main game-changer, allowing us to apply algorithmic automation for to execute the most routine trades without interruption.
Traders that want to stand out in the modern Forex environment hold on to every advantage they can get. With so many talented individuals and the tools that help them achieve near excellence, the rest boils down to optimal hardware, location, and internet connection. A trader that takes all the right decisions can come up short due to latency, unexpected power outages, and other external factors.
Thankfully we can deal with these problems by incorporating Virtual Private Servers (VPS). Instead of basing the trading system on a home computer, experienced traders rent a VPS to get a portion of a protected server in a location closest to their broker. In these optimal conditions, long-term trading plans can avoid unexpected interruptions and margins of error.
Most Forex traders use Windows Operating System because it provides the best support for trading software, and a trading VPS usually comes with Windows as well. But what about Linux users? How can you connect to a VPS on your Linux distribution to keep a watchful eye on a trading system and make adjustments?
Connecting to a Windows VPS through Linux is very easy and allows you to get the best of both worlds without any OS changes. Most Linux distributions have an open-source software called Rdesktop. To establish a connection, open your terminal window, and type in the command "rdekstop", your VPS IP address, and the port followed by a semicolon.
Most Linux users understand the limitations of their OS for Forex trading and use Windows on their VPS to run MT4 or other trading software. We recommend checking out VPSForexTrader - a reliable hosting provider that offers customizable deals tailored for trading on the foreign exchange market. Just choose the most favorable location and hardware options, and you will be able to connect to your remote VPS on Linux in no time!
Over the last couple of decades, trading on the Foreign Exchange Market (Forex) has become a very digitalized experience. The development of the internet and information technologies have contributed to the exponential growth of currency exchange. Today, anyone with a smart device and an internet connection can get into Forex trading without much of a hassle.
Modern traders have far more effective and convenient tools for comfortable and efficient trading. With popular trading platforms like MetaTrader 4, you get plenty of assistance and useful, visualized, constantly updated information that can influence and improve your further traders and decisions.
With these tools, a trader today can build an efficient strategy and even implement algorithmic automation to execute safe but repetitive trades to increase scalability. Proper implementation of automated bots helps transform Forex trading from a hobby to the main source of income.
However, by increasing the accessibility of Forex trading, information technologies are also responsible for making it a lot more competitive. Traders need technical proficiency in addition to market knowledge that helps us execute profitable trades. About 3/4 of trades on Forex are automated, and traders dedicate their resources to acquiring tools that can improve their accuracy.
Virtual Private Servers (VPS) are in-demand tools that help experienced traders maximize their potential by providing hosting services for private server segments with customizable hardware, internet speed, operating system, and location. In this article, we will briefly go over the benefits of VPS for your trading system and how you can change your server password.
How a VPS helps you achieve success in Forex
You might be thinking: why would I rent a VPS with decent hardware if I have a great computer at home? While home-based trading stations can have hardware and software advantages, remote servers offer superior internet speed and protection from power outages and security breaches that can disrupt the sequence of performed and automated tasks, putting your livelihood at risk. Also, you can choose a VPS that is closest to your broker to minimize execution delay and the margin of error that comes with it. Once you set up your trading platforms on a VPS, you can always connect to them via your computer or a smart device to monitor changes and make slight adjustments.
Changing server password
Once you get your VPS from a provider of your choice, you can use designated credentials to quickly connect to it via a remote desktop connection. Servers for Forex trading use Windows OS, so all you need to do is right-click the start menu to access Command Prompt (Admin). When the command window pops up, type "net user Administrator" followed by your new password, and then press enter to apply changes.
VPS Forex trader is a great hosting provider with servers specifically tailored for Forex traders. Visit their website to check out the most popular deals, customizable parameters, and Frequently Asked Questions (F.A.Q.) that will help you set up your server and get it ready for Forex trading. Evaluate the scale of your system and get the deal that suits your needs!
The foreign exchange market (Forex) has existed for decades as a stabilizing force for currency exchange rates. As the biggest financial market today, traders value the liquidity of currency and see it as a great opportunity to create another source of income or even turn it into a livelihood.
The foundational knowledge on Forex trading rarely changes in essence over the years - all we need to do is adapt the lessons for a modern situation. Accumulating basic economic knowledge and understanding your markets are the necessary steps that help you understand the value of trading.
While there's tons of information that will help you understand the basics of currency exchange, information technologies have modernized and digitalized the foreign exchange market. With innovation comes accessibility, making Forex bigger and more competitive than ever before.
With new tools and higher levels of competition, the advantages lie in details. With opportunities for modern traders being surprisingly equal, tech-savvy individuals thrive by creating technological advantages that improve the precision of executed trades and minimize the margin of error. With additional efficiency brought by technology come new ways to manipulate the situation to come out ahead.
We have written this article for experienced traders that are already familiar with MetaTrader 4 (MT4) or other trading platforms and the flexibility they provide. When you know how to use the software and its best tools, a part of your trading strategy may rely on Expert Advisors (EA) - automated robots that execute trades under specified conditions.
While the reliance on automation may vary, the efficiency, speed, and stability of a digital trading platform can make or break your financial gains on Forex. Beginner users like to test the waters and manage their trades on a home computer, but experienced traders face more risks which they want to minimize while utilizing possible advantages.
To ensure supreme internet connection, stable hardware, and continuous runtime, traders rent Virtual Private Servers (VPS). By utilizing these customizable hosting services, traders can set up Windows servers and run their platforms. A client can choose the closest location to their broker, manipulate hardware properties and storage space.
The rest depends on resource management. You can run multiple instances of MT4 or other trading platforms to scale up your trading setup. Once you pay for a VPS, make sure to squeeze
out every bit of value from a designated CPU, RAM, and storage. But how an inexperienced can check up on the vitals of their server?
The process is very simple. As you keep customizing and adding new instances of MT4, you can check your CPU and memory usage by pressing "WIN+R" shortcut and typing in "resmon" in your search box. This will grant you access to a resource monitor that will show what part of the resources is being utilized. Keep stacking up new instances of trading platforms for safe and automated tasks that will add up to your income.
VPS Forex Trader is a good hosting provider that specializes in creating favorable circumstances for Forex traders. When you know how to check your CPU and memory usage, you can utilize every advantage of the hardware at your disposal. After the first month of using the service, you will see how many resources you need and make adjustments for your future orders.
Information technologies have revolutionized trading on the foreign exchange market. Thanks to the internet, we have a lot more Forex traders that make the process more dynamic and competitive.
Today, Forex trading requires a lot more technical proficiency. Because technology allows us to automate and execute different tasks with higher precision, a trader has more opportunities to develop various strategies with a lesser margin of error. Maximizing the efficiency of technical aspects will improve your accuracy and minimize your reliance on luck.
What makes modern Forex trading so attractive are digital platforms that provide the ability to visualize, analyze data and make decisions from the comfort of your own home. With adjusted apps for phones and other smart devices, experienced traders can monitor and manage their source of income from any location with an internet connection.
In this article, we will talk about MetaTrader 4 (MT4) - the platform developed by MetaQuotes Software Corp. in 2005. Even with new alternatives popping up, it remains the most popular trading platform in the world.
What makes MT4 so exceptional is simplicity for beginner users and customizability for experienced traders. With different ways to visualize and manipulate data, users can utilize Expert Advisors (EA) - automated bots that follow your instructions and execute trades based on a customizable algorithm. But one of the biggest advantages that come with trading platforms is the potential for increased scalability. This begs the question: how do we install and open multiple instances of MT4?
How do you set up multiple instances of MT4?
The linear process of running multiple instances of MT4 might surprise you with its simplicity. To increase the scalability of your trading platform, all you need to do is install the software multiple times. It's that simple!
To get the desired number of instances, we recommend choosing a common folder and then choosing numerated subfolders as directories for installations. Segmentation will help you avoid confusion, and you will not overwrite other instances by accident. Keep installing MT4 until you have as many instances as you want, and that is it! Now you can open multiple windows to expand your trading strategy. For further comfort, create shortcuts with unique names to avoid running the same platform by accident.
Apart from scalability, having multiple instances of MT4 has other advantages. You can utilize every window to only display relevant information and organize hardware memory usage.
When you reach the level of trading where external factors start to make a difference, there is a lot of minute details that can sabotage your operation even if the decision-making is perfect. That is why experienced traders rent out Virtual Private Servers (VPS). VPS Forex Trader is a popular hosting provider that helps traders eliminate technical limitations: Internet speed, inferior hardware, instability (caused by a power outage, or other factors). With a VPS, you can choose a server location that is close to your broker to establish a faster connection and make your trading platform as safe as efficient as possible. You can create multiple instances of MT4 on a remote server to maximize the tools at your disposal!
In the past couple of decades, the rapid development of information technologies has made the foreign exchange market easily accessible for interested individuals all around the world. Forex brokers provide comfortable partnership opportunities through various trading terminals. The development of such software eliminates gatekeeping and opens the Foreign Exchange market to new, ambitious traders.
But a much larger scale of the market also makes it much more competitive. With varying resources, tech-savvy traders find new ways to manipulate technology to create various advantages.
Metatrader 4 (MT4) is a prime example of trading software that offers great customizable features for its users. Even if the platform is already pretty ancient when compared to modern trading terminals, MT4 is a perfect starting point for beginner traders, and a wide variety of tools offers many alternative routes to individual mastery.
Modern trading platforms make trading incredibly convenient. From the comfort of your own home, you can track price levels and have updated visual information without the need to overload your brain. Once you start analyzing and tinkering with the available tools, the brilliance of algorithmic automation opens a whole new world of possibilities. In the case of MT4, powerful robots called Expert Advisors (EA) are used by experienced traders to automate repetitive but important trades.
Of course, with so much information available at our fingertips, the most persistent traders display incredible skill by setting up efficient trading strategies. When the competition between the best traders is so fierce, micromanagement and even the slightest changes in hardware and internet connection make a big difference in Forex trading.
In this article, we will talk about Virtual Private Servers (VPS). This hosting service is highly demanded by Forex traders because it helps them choose the perfect circumstances and parameters for a required server. InterServer hosting is a valuable option to set up your trading platform on a VPS.
Although InterServer primarily hosts open-source templates, you can also choose a Windows VPS to successfully run trading platforms like MT4. Other server parameters depend on different factors. If you want to run multiple terminals for your platform, it would be wise to rent a server with more CPU cores, RAM, and storage.
A location is a unique defining factor in choosing an InterServer VPS for Forex trading. To maximize the speed and accuracy of executed trades, the location of your host needs to be in close proximity to your broker. When the margin of error is minimized, the correct decisions of a trader yield far greater results.
By using an InterServer VPS, you get accessibility and security. Such servers are safe from power outages and cybercrimes, unlike trading systems based on home computers. You can connect to your server via any electronic device to micromanage your system while benefiting from hardware and internet speed perks. Virtual private servers that specialize in creating perfect circumstances for Forex traders are in high demand. You can explore alternative hosts like VPSForexTrader to find different locations and parameters to suit your trading needs. However, InterServer VPS is one of the top hosting providers for Forex traders. Once you get access to your remote server, establish a remote desktop connection, and enjoy your VPS and its perks!
Metatrader 4 (MT4) is one of the oldest electronic trading platforms that remain at peak relevancy today. Due to its easy accessibility, many features, and flexibility for individual users, old and new traders cherish MT4 and rely on it for Forex trading.
Exchanging currency on Forex can be a tricky business, and users always seek new ways to uncover advantageous strategies to magnify or simplify trading on the foreign exchange market.
MT4 accessibility on multiple electronic devices has brought a lot of leeway to the lives of persistent traders. Mobile devices help Forex traders continue managing their systems under any circumstances without sacrificing many joys of life.
Setting up alerts on MT4 mobile allows traders to maintain efficiency and precision without excessive micromanagement. Without the need to stay glued to your trading system, you can set up an alert that diverts your attention to Forex at the appropriate time. Let's discuss the common strategies for MT4 alerts and the way to set them up.
The benefits of MT4 alerts
Price action level tracking is a common strategy among traders. Once it reaches a specific interval that requires management, you can set up your alerts to notify you about the price shift.
Another valid way to use alerts is to set them up when prices reach major levels. The alarm helps you act as fast as possible and fish out great opportunities at the right time.
How to set up alerts
Once you download the MT4 mobile app and connect to your account, go straight to the settings and select "Messages". There you will find your unique MT4 ID which will allow you to sync the system between your devices. Now you will have to connect to MT4 on your PC. Click on the "Tools" header, go to "Options" and then "Notifications". Enter the ID you got from your mobile device and check the box to enable push notifications.
If you've done everything correctly, pressing the "Test" button should send a notification to your mobile phone. Once this part is taken care of, we can start specific alerts that suit your needs.
Now, go to the MT4 terminal on your PC and visit the "Alerts" section. By clicking the header, you will open a window. Right-click it and select "create". There you will be presented with various options: alert conditions, symbols, and a displayed message. Press the test button to check if your alert comes through, and you're all set!
While micromanagement is a blessing in the world of trading, your effort may not be enough. Subpar internet speed can sabotage your trades, even if you make the right decisions. That is why experienced traders use Virtual Private Servers (VPS). VPSForexTrader is a popular hosting provider that creates perfect circumstances for Forex trading. Once you station your MT4 on a VPS instead of your PC, you can get mobile alerts from servers with the best locations for trading on the foreign exchange market. Once you use a VPS, mobile alerts will help you make much sharper decisions. Happy trading!
Metatrader 4 (MT4) is the most popular trading platform that offers superb availability for most electronic devices. Beginner-friendly usage and many customizable features have helped maintain the popularity of MT4 for 16 years. Even with the release of its successor, Metatrader 5 (MT5), the platform has remained a beloved tool for traders in the foreign exchange market.
Beginner traders study, analyze, and experiment with MT4 tools to create the most comfortable and reliable trading station. However, once we take Forex trading to the next level, advanced users seek out any possible advantages to get over the hump and turn this dynamic hobby into their primary source of income. While there are many successful strategies that help attentive traders reach their goals, most of them use Expert Advisors (EA) to automate the safest trades while keeping a watchful eye and manual control on other processes.
Because most Forex brokers use MT4 on their websites, an abundance of necessary features gives traders complete freedom over their decisions. Once a user becomes heavily invested in the foreign exchange market, the tools that improve and simplify the process of trading are irreplaceable. When traders scale up their operations, it becomes a necessity to keep an eye on their system at all times. Because of it, a demand to have MT4 on other electronic devices has brought the platform to mobile phones.
In this article, we will discuss the MT4 app on android, or more specifically, how can you add indicators to the platform on your mobile phone. The most successful traders keep a watchful eye on their trading platforms, so having an access to MT4 in your pocket helps them make the right adjustments on the fly and steer the ship in the right direction.
Easy access to indicators
Once you have a graph displayed on your android phone screen, all you need to do is click on the "f" icon on the menu. When you tap on the "f+" icon next to your chosen chart, you will be able to choose from default indicators available on the app and calibrate your preferences. When you are happy with your results, click "done" and you are good to go!
Unlike with the highly customizable software you run on your computer, you cannot download and use custom indicators in MT4 for android. Still, the app should not be used as your main platform for trading but a great tool that grants you access to your Forex trades when computers are unavailable.
Other ways to improve Forex trading
While most beginner traders like to run their MT4 from the comfort of their own homes, serious players rent out Virtual Private Servers (VPS) to get an advantage over the competition. VPS Forex Trader is a popular server provider that creates the perfect conditions to run MT4 successfully. With locations close to Forex brokers and a much faster internet connection, VPS Forex Trader provides all the necessary resources to make your trades far more efficient, and you can access your server with an electronic device to make the necessary adjustments. Use a VPS now and take your trading career to the next level!