One of the merits of doing overseas Forex is that you can trade with MT 4. MT4 is a Forex trading tool developed in Russia. Now growing into a trading tool used all over the world and for free, both Forex companies and Forex traders have advantages. This time, I will introduce the things to know about MT 4 and how to study.
What should know when using MT4
There are few Domestic Forex companies introducing MT. There are many Forex companies that develop and use their own trading tools. MT4 is not used in domestic Forex because the trading method differs with overseas Forex. Domestic Forex companies conducting bucketing and cover trading depending on circumstances need to make their own trading tools so that each transaction can be switched. If you introduce MT 4 you can reduce the development cost, domestic Forex will take extra cost due to differences in trading method.
MT 4 is characterized by high customizability and high transparency. Some people think that domestic Forex trading tools that are costly to develop are superior in performance, but MT4 that is used in world standard is higher performance. It is natural for beginners think it’s difficult to master because it is used abroad and high performance. However, everyone can master MT 4 as you slowly learn about it.
First, let's list down the point of studying MT 4
There are four points of studying MT 4, initial setting, chart, indicator and EA. If you keep down each point and study, you will soon get used to using MT4. I will briefly introduce the four features.
Initial setting The setting from introduction until MT 4 can be used. Beginners sometimes get caught up here. The usage is different for MT4 software for PC and MT4 application for smartphone, so if you plan to use both, let's learn how to use them.
The chart is a function that displays the real time rate. Discretion trade that put orders while looking at charts yourself are particularly important. The point to learn about the chart is to change the type of time axis and chart.
There are scalping to trade frequently on short time axis in Forex. Day trade to place orders on a daily basis, and swing trade to aim swap points on long time axis. Depending on each trading method, the chart display and type are appropriate.
The history of the rate from the past to the present is engraved in the chart. Looking at the chart does not just mean saying "I should have done this at that time", but it can also be used to analyze the movement of the rate and predict future price movements. Such a method is called technical analysis.
Technical analysis will support trade. A program for analyzing is called an indicator. The MT 4 can easily use the indicator . You can also download and use the indicator that Forex high winning professionals released. How to incorporate the indicator and use it is the point you want to learn.
It is the innermost part of studying MT 4. Automatic trading is possible for MT4. To conduct automatic trading, specific rules are required. EA is the software whose rules are consolidated. You can use EA installed from the beginning on MT 4 or prepare and install EA yourself.
There are many things to remember about EA, such as setting method, what to use, types. If you can master EA, the winning percentage will rise as well. People who wish to view automatic trading should particularly learn these points.
Main methods and features to study MT4
To buy books published by professional traders and study. You can set up and use MT4 by reading books. It is merit that it is easy to understand. However, it may be costly and some books may not be compatible with the latest MT 4, so be careful.
Seminars and Learning sessions
To study MT 4 by participating in seminars and learning sessions. You can learn the latest MT4 functions and techniques. You can learn new information, but seminars may be expensive. Since the date is fixed, it’s not like you can learn any time.
Learning from the Internet
It is a method to study by referring to the information of MT 4 published on the Internet. It’s free, but you must study the correct information. Learning wrong information may end up remembering false as they are. There is also a way to refer to the website of the developer of MT4, but there is not much practicality because there are mostly contents of introduction than usage.
The best way to study is at overseas Forex companies offering MT4
It is best to study MT 4 at a site of an overseas Forex company that recommends using MT 4. The overseas Forex company is a mechanism that increases profit when a trader wins, so it is true that they want you to master MT4 and win. So they also provide support to make MT4 available. Since overseas Forex companies, Japanese language support is also important.
Overseas Forex company GEMFOREX introduces MT 4 from basic usage to application in detail. Since it is published in writing as well as a movie, you can set it along with the movie. It’s free, so you can study MT 4 without cost. All in Japanese, so simple and easy.