For beginner traders using the MetaTrader4 platform for the first time can be confusing. Opening and closing trades is simple enough but it is hard to make the most out of the platform. These are some handy tips to help make trading a little bit easier and more enjoyable.
Tip 1: Chart Templates
This one works the best when the chart that you were trading on, with all the indicators, objects and changing of colours, seems to disappear when you close and reopen the symbol.
How does one keep them? By using Chart Templates you can keep them all.
Once the ideal chart is setup, “right click” the chart and select “Template” and “Save Template”. Now the chart layout is available to use on any symbol by selecting “Load Template”.
There is also a list of saved templates, so it is possible to save multiple and use the desired layout.
A Bonus Tip for Templates
If the chart template is named “Default”. The “Default” chart template will be the default chart layout for when a new symbol is opened.
Tip 2: Ctrl + F for crosshair
It can be quite hard to pinpoint the exact price level to use a stop loss if it’s not displayed on the chart.
Do you know that by pressing selecting the Crosshair pointer or pressing Ctrl + F, you will bring up a crosshair on the chart that displays the exact price and time desired?
A Bonus Tip: You can use Ctrl + F as a Ruler
After pressing Ctrl + F and selecting a point on the chart. Hold down the left click button and drag to the desired position. 3 set of numbers will appear. Which display the amount of candles / distance in pips / price at that point.
The Data we have is:
- Point A price is 1.69541
- Point B price is 1.67510
- Distance from Point A to B is 2031 points or 203 pips
- There have been a total 21 candles from Point A to Point B.
MT4 is the favourite choice for Forex traders around the globe. ZERO Markets’ MT4 is packed with extras to ensure you’re equipped with all the tools you need to make better informed trading decisions. Tight Raw Pricing, fast execution and superior charts are the building blocks for our MT4 & MT5 solutions. The platform is designed to facilitate a user friendly and dynamic trading experience.
Learn more about trading CFDs with Zero Markets.