Are you a person who loves trading but wants a good and reliable platform to show off your skills? Are you a person researching ways to bring a second income to your family? Then download MetaTrader 4 in Australia right away. Trading is always the best choice when you need to save money through your supplementary income. This MT4 is reliable and user friendly, which all traders prefer to other platforms. Experts prefer MT4 to invest in foreign exchange trading as they are very convenient to use. The trading signal and market are the prime components of the MetaTrader 4 platform. With the trade signal feature, you can refer and copy trades from other traders, which is essential for novice traders. The market furnishes you with expert advice and technical indications.
You gain a lot of benefits when you download MetaTrader 4 in Australia. One always expects encryption of information exchange between servers and the terminals. With this platform, automation in trading is possible. You can leverage markets without spending a lot of time on them. The percentage of slippage is also minimum as MT4 has good stability and quick execution. One can download this trading base on any smartphone, computer or tablet. IT is also very flexible to use as there are options for customisations. One can work on many available instruments like CFDs, FX trading, market indices, etc. There are also options to practice trading for new bees to trade without any risks. During the pandemic, about 13% of the Australian population started their share trading journey.
Everything you need to know about using MT4
Create an account
Find a reliable website that allows you to download MetaTrader 4 in Australia. Then create an account for yourself by entering the details on the site for further access. Some sites require you to create an MT4 account separately from their dashboard. Now start downloading MT4 and log in with your credentials.
The next step is to open a position for trading. Use the order window provided on the site to start trading. The symbol menu provides you with options for the market. Use the stop loss option to minimise the risk of losing money when the graph isn’t as you expected. You can also lock your profit with the limit option. There are also options for instant execution to buy or sell immediately. If your instincts say the value could rise, you can go ahead and buy. If you guess that it could decrease, you can sell. One can also add a value of maximum deviation to prevent sudden rejections while placing orders.
Type and price
For the pending order option, decide the type of order. There are options to buy limit, sell limit, buy stop and sell stop. Then Select the trigger price you want your trading process to start. If you want your order to expire, select a date and time for its expiry when it does not attain your expected price. Then place the order after checking all your entries once again.
One can monitor their open position and pending orders by clicking the terminal window. Then after monitoring, you can close or delete an order when you complete it.
Stops and limits
- Buy stop: It is a command to buy a market when it reaches an entry-level that is usually higher than the current rate.
- Sell stop: This is opposite to the buy stop command. When the value touches a specified level lower than the current rate, your command sells the market.
- Buy limit: This is a command to buy the market when the rate falls than the current rate.
- Sell limit: It is the order to sell a position when the prices hike up than the current price.
You can even view your trading history and download a detailed report on it. Click on the account history to view your trading process. There are options to view the complete history, the last few months or history of a specified time. You can download and save your report for future reference or check on past trading trends.