How to trade with MT4 Webtrader
How to Trade with MT4 Webtrader (Part 1/2)
The MT4 Webtrader offers traders the convenience of accessing their trading accounts directly from their browsers, regardless of what operating system they use, with no installment needed.
Fully functional, the MT4 Webtrader removes the need for using the installed desktop application especially when you want to have a quick glimpse of the markets or even to study the charts.
Featuring a full chart module with lots of indicators and drawing tools to choose from and complete order management, the MT4 Webtrader makes for an ideal trading solution which could just as well replace your traditional desktop application.
It is highly recommended to open a demo account
How to Trade with MT4 Webtrader (Part 2/2)
The MT4 Webtrader is divided into four main modules.
On the top are general settings which can be used to change the theme of the layout or to switch between different languages and so on.
Under this module, the Webtrader is divided into the chart section and the rates section, followed by the lower module showing details of the open positions and a snapshot of your account such as the open trades, profit and loss, balance, margin and other details.
MT4 Webtrader – How to Manage Orders (Part 1/6)
In order to open a new trading position from the MT4 Webtrader, the first place to start is the “Rates” section on the left.
There you can find all the market symbols and various instruments that are listed.
You can either use the “Search” box to search for your preferred instruments or simply click on the “Favorites” dropdown to toggle between the various groups such as Equities US, Energy & Agriculture, Forex and so on.
Depending on the group that you select, the respective instruments are displayed in the Rates section.
– Pending Orders can be set from the ‘Rates’ tab
– Market Orders can be set from the “Cubes” tab
MT4 Webtrader – How to Manage Orders (Part 2/6)
When you click on the Cubes tab, the same information is displayed but with Buy/Sell buttons with the option to modify the position of the trades.
Using the drop down arrow in the cubes section, you can easily switch between various instruments.
Once you access the instruments or the markets that you want to trade, you can directly trade from the “Cubes” tab by clicking on the appropriate Buy or Sell buttons and also modify the trade size.
MT4 Webtrader – How to Manage Orders (Part 3/6)
Note that this will open a market order without any stop loss or take profit levels.
Once you click on the “Buy or Sell” button you get a pop up window asking you to confirm the order with the details mentioned.
After you confirm, the order is processed at the prevailing market rate and a confirmation window shows up summarizing the details of your order including the price at which the order was executed.
Once the order is executed, you will now see the open trade at the bottom section of your screen.
The next step is to place the Stop Loss and Take profit levels on the open trade.
MT4 Webtrader – How to Manage Orders (Part 4/6)
To set the Stop loss and take profit levels, click on any of those two tabs, which opens the ‘Edit Order’ window where you can specify the price levels.
You will also see an estimate of the profit and loss you can take on the open order.
After entering the price levels click on “Update” which will confirm your open order with the new stop loss and take profit levels.
MT4 Webtrader – How to Manage Orders (Part 5/6)
To place a pending order, you will need to use the ‘Rates’ tab and click on the instrument you want to trade.
This opens a chart on the right side of the screen.
Using the slider, switch from ‘order’ to ‘pending’ which will open a new section above the chart. Here, you can place the pending Buy or Sell Limit or Stop orders as well as be able to set the stop loss and take profit levels. Fill in the respective fields and click on “Update” to open a pending order.
You can also make use of the “Expiry” time to have the order automatically canceled if the limit or stop order was not triggered within the specified time frame.
MT4 Webtrader – How to Manage Orders (Part 6/6)
Viewing pending orders can be accessed by clicking on the “Pending Orders” tab in the trades module below the chart section.
At the very bottom of the screen, you can see a snapshot of your account with the profit/loss on your open trades, the floating balance, and account equity, locked in margin and free margin as well as the margin level.
To close your open orders click on the “Open Positions” tab and then click on “Close” next to each of the open orders.
If you want to close out all your existing positions, then use the “Close All” tab which will close all the open trades in your account.
When you close your positions, you see a confirmation window showing you the profits or losses you made on closing the open trades.
How to View Account History
How to View Account History
To view your account history which includes deposits/withdrawals you made or to access your past trading history.
The account history can be customized by clicking on the icon next to the “Closed Positions” tab.
You can check or uncheck the various columns that you want to see, as well as click on the bottom left tab to change the time period of the account history that you want to see.
How to Use Charts on MT4 Webtrader (Part 1/2)
How to Use Charts on MT4 Webtrader
The MT4 Webtrader charts section features a complete suite of trading indicators and drawing tools along with the option to switch between different time frames on the chart.
To maximize the chart screen, click on the “Expand” tab on the corner of the chart.
This will enlarge the chart and is useful when studying prices. The OHLC tab can be collapsed or expanded by clicking on the arrow below the tab.
How to Use Charts on MT4 Webtrader (Part 2/2)
You can choose from many different indicators by clicking on the Indicators tab (fourth icon from the left).
The drawing tool can be accessed which allows you to annotate the charts, plot trend lines, Fibonacci lines and a whole lot of other drawing features.
You can also switch between the Candlestick, Line or OHLC bar chart types.
The MT4 Webtrader is a truly functional and a flexible browser-based trading platform which allows you the ease of placing trades and also offering you a complete and a powerful charting system to study price action.