How to open multiple instances of MT4
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!