default customization of charts in mt4 for mac

If SL and TP levels were set too close to the current price, you will see an error message: “Incorrect S/L or T/P”. If stop loss and take profit values are set, they will appear on the chart as horizontal lines at the corresponding price levels, making it easy for you to monitor open trades. Take profit (TP) is an exchange rate where your trade will be automatically closed if the price goes in your favor. Thus, SL limits your possible loss: in the worst case, you won't lose more than the amount you chose as a stop loss. Stop loss (SL) is an exchange rate at which your trade will be automatically closed if the price goes in an adverse direction. You can enter this information right away or later or choose not set these levels at all. Then it’s time to set the “Stop Loss” and “Take Profit”. You can read up on how to choose a position size in the article How to determine position size?. In MetaTrader you set position size in lots: 1.0 is equal to 1 lot, or 100,000 units. The next is step is to determine the size of your position and write it in the field “Volume”. A corresponding tick chart will appear in the left pane. By default, the symbol on the active chart is chosen for trading, but you can pick another asset from the drop-down list. Here you need to choose the parameters of your trade. Click on the “New Order” button in the toolbar above the price chart.Double-click on the name of the trading instrument in the “Market Watch” window.Right-click on the chart go into “Trading” – “New order”.Choose “Tools” – “New order” in the program menu.There are several ways to make a “ New Order” window pop up: To trade, you need to give your broker a command to open a trading position for you. If you see the speed of your internet connection there, all in fine: it means that you are getting live market quotes. Carefully fill in your login info making sure that you use the correct name of the server.Ĭheck that you got connected: the columns in the lower right corner should be green and blue. If your first attempt failed, click “File” and then “Login to Trade Account”. Sometimes it takes more than one attempt to log in.

If you forgot this info, you can check the registration email sent to you by the company or set a new password in your personal area. Use the login and password provided to you by FBS during the registration. Launch your MT4 trading terminal (the procedure for MT5 is very similar).

Default customization of charts in mt4 for mac