Despite the launch of the more updated MetaTrader 5, its sibling MetaTrader 4 is still the favorite of many traders. Why is that so? The reason for this could be attributed to its feature-rich platform combined with a user-friendly interface making it so easy to navigate and perform certain tasks in the market. MT4 is also equipped with different order types, technical indicators, and charting tools. All these things are very helpful in making a comprehensive analysis as well as risk management, allowing traders to boost and take control of their trading strategies.
In addition to all the wonderful features of MetaTrader 4, it also supports multiple devices which means that you can download the platform on your Apple and Android devices. This makes trading more fun as you have the freedom to trade on the go. Just secure an internet connection and gadgets that support the platform. Take a look at these 5 more exciting features of MetaTrader 4.
You can create customized User Profiles
In this trading platform, profiles are considered a useful asset. It is responsible for grouping different assets according to their types for easy access later on. With a clutter-free trading platform, you can work efficiently and productively. You can manage all these profiles from a single menu which is found by tapping the button located at the standard toolbar. These profiles can be deleted or stored also from the sub-menu bar. Opening all the profiles one by one is also very easy. You just have to press the CTRL+F5 and all your profiles will be opened simultaneously.
MetaTrader 4 also has a very time-efficient feature, the One-Click Trading. Normally, when you place an order, you have to go through a two-step process. You have to open the window for trade order, select the order type which includes different parameters, and click either the buy or sell button. You can also choose to modify or close it, according to your trading strategy.
But with one-click trading, you can simply input an order either on the trading panel, from the Market Watch window, or trade levels. To enter your trade through the one-click trading panel, you have to activate this first then select the “One-Click Trading” which is located at the context menu of the chart. To enter a trade on the Market Watch, simply click the Trading Tab at the MarketWatch window. When entering trades on the trade levels on your chart, you first need to activate the “Show trade levels” which is found at the terminal settings.
Drag and Drop Orders
Another good feature in MT4 is the drag and drop feature which allows you to check your trades keenly. This ensures that all the important levels in trading such as take profit and stop loss are readily visible.
Setting Up the Price Alerts
When you set up a price alert, you are guaranteed that you won’t miss out on any positive trading opportunities. With price alerts on, you will be regularly informed of price movements without the need to check your charts always.