Many people consider Forex trading to be a daunting task, but with the right tools it can be a rewarding experience. One of the most popular tools for trading in the Forex market is Metatrader 4 (MT4), a platform that offers a range of features to its users. In this article, we will introduce you to the basics of using Metatrader 4 Iphone/Ipad ios, and how you can use its various features to trade Forex successfully.
Downloading and Installing MT4:
Before you can start using MT4 for iPhone, you need to download and install the app from the App Store. Once you have done this, you can either create a new account or log in to your existing account. The app will prompt you to choose a server, and you can choose the one that is closest to your location. Once you have selected the server, you can start using the app.
Customizing the Platform:
MT4 for iPhone allows users to customize their platform according to their preferences. Users can choose from a range of color schemes, and can also set up their own indicators. Users can also customize their charts by adding or removing indicators, as well as setting up their own alerts. To customize the platform, users can tap on the settings icon and then select the option they want to customize.
Placing and Managing Trades:
The most important feature of MT4 is the ability to place and manage trades. With MT4 for iPhone, users can do this easily. To place a trade, users can simply tap on the + icon on the bottom of the platform, and then select the asset they want to trade. They can then set up their order by selecting their position size, setting a stop loss and take profit levels, and choosing the order type. Once they have done this, they can tap on the buy or sell button to place the trade. Users can then manage their trades by tapping on the trade they want to manage, and then choosing the option they want to use.
Accessing Trading Signals:
MT4 for iPhone also offers users the option to access trading signals. These signals are generated by professional traders and are designed to help users make informed trading decisions. To access these signals, users can tap on the “signals” tab on the bottom of the platform, and then browse through the available signals. They can then choose the signal that suits their needs and follow the instructions provided.
Monitoring Performance and Analyzing Trades:
MT4 for iPhone also allows users to monitor their performance and analyze their trades. Users can view their balance, equity, and margin levels in real-time, and can also access their account history to view their trading performance. The platform also allows users to analyze their trades by using a range of tools, such as trend lines, support and resistance levels, and Fibonacci retracements.
Conclusion:
MT4 for iPhone is a powerful tool that can help you trade Forex successfully. With its range of features, you can customize the platform according to your preferences, place and manage trades easily, access trading signals, monitor your performance, and analyze your trades. By following the guidelines provided in this article, you can get started with MT4 for iPhone and begin your journey as a Forex trader.