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How To Use MetaTrader 4 (MT4) For Beginners | 2022 Tutorial - YouTube
Channel: Blue Edge Crypto
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What's up edge traders.
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This is Adam Wenig here with a
complete MetaTrader 4 tutorial
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for beginners.
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Here's everything that you need to know
about using the MetaTrader 4 platform.
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And here's how this is going to work.
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We're going to break down everything
that you need to know on desktop.
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And then at the end of the video,
I'm going to hop in on mobile.
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I think it's good that you
understand both platforms,
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but here's a quick look at everything
that we're going to be covering.
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We're going to be covering how to
download the Metatrader 4 terminal,
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how to log into your brokerage account,
how to add symbols in the market.
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Watch the navigator of the terminal
open trades and trade history.
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Opening a chart, changing timeframes,
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placing a trade market orders versus
pending orders, modifying trades,
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customizing charts, drawing lines,
and objects. Adding indicators,
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saving a chart as default installing
custom indicators, installing EAs.
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All of that is coming right now.
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Okay.
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This is the only MetaTrader4 tutorial
video that you need. The watch.
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My goal is to make this as complete as
humanly possible and as simple as humanly
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possible. So you can totally
master MetaTrader 4. And
just as quick short video,
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and if this video helps you,
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would you consider taking a second to
just hit the like button as well as
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subscribe to this channel,
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we created this channel to help make your
trading elf easy, lucrative, and fun.
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So let's get into it right now.
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So first things first is how to download
the MetaTrader 4 terminal to your
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computer. It's really, really simple.
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All you need to do is type
in your broker account,
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which I'm using LQDFX in this scenario,
and then MetaTrader 4 download.
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And you'll simply basically just click
on the platform that they give you.
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And then you'll just
download it to your computer.
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Once you download it to your
computer, you'll simply click run.
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And when you click run,
something's going to pop up.
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That's going to look just like this. Okay.
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So that's how to download
the terminal next.
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How do you actually log into
your brokerage account? Well,
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there's a couple of ways
at the bottom right here.
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You can go ahead and you can click login
here and you can put in your brokerage
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account number as well as your
password right here. Also,
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you have the option right here to
file, log into trade account. Again,
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you put in your account number as
well as your password right here.
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Now you can also open a new
demo account if you'd like to.
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So you can just click open an account
and then you're going to have to just
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search for the broker servers.
So you just type in, for example,
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if you're trading with FX
choice, you type in FX choice,
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and then you select which server
you want to be on. For example,
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their demo server,
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you click next and then you can open
a new demo account by clicking next,
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or you can log into an existing account
like that. So once you're logged in,
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it should look something like this.
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And you can see that it's
green here at the bottom,
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which basically means
that I'm logged in. Okay.
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The next thing that you're going to
want to understand is the market watch.
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So here's how we can have a list of
currencies that we'd like to trade.
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So if I want to get rid of it, I
can just pop it off right here.
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And then I can click this button right
here to add the market. Watch again.
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Now you can go here and
you can click hide all,
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and it'll remove all symbols from your
market. Watch. You can come in here,
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you click show all and it'll
show all of them again. Okay.
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So I'm going to hide all of them and you
can also just add individual ones that
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you'd like to add. So for example,
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let's say that I just want
to add the major Forex pairs.
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I can just go in here and I can click
and I can add all of the Forex major
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pairs, just like that. And well BAM.
We have them here in our market. Watch.
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Another thing that you can do in the
market watch is you can see the spread.
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So this is sometimes helpful. So you can
go ahead and see the spread right here.
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So that's the market watch next,
moving on to the navigator.
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So this is the navigator window. You
can close it out just again like here.
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And you can also open it up again,
just by clicking that button here.
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Basically here, you can see which
account that you're logged into.
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If you're playing on
multiple different accounts,
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you can switch from your
accounts right here.
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You can also see all of
the different indicators,
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which you can drag onto the
chart, which we'll explain later,
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as well as any expert advisors
that you may be using.
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We'll go over how to install an expert
advisor later on in this video as well.
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So that's the navigator. The
last part is the terminal. Okay.
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So you can go ahead and you can exit
out the terminal right here and you can
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click it back on right
here to see the terminal.
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The terminal is basically
has these tabs right here.
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So the trade tab is going to show you any
open trades that you may have going on
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right here.
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And then the other most popular thing
that you're going to look at in the
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terminal is your account history. So
here you can see your profit loss,
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as well as any details of any
open trades that you have made.
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Everything else.
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You're not really going
to use a lot unless you're
using like an expert advisor.
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You'll need to check here
occasionally, or maybe your journal.
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It'll basically show you everything
that you've done inside of MetaTrader 4,
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but you won't really need to
look at that a whole lot. Okay.
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Mainly just the trade and account history
tab. Next thing, how to open a chart.
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So how to open a chart, basically,
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there's a couple of ways you can open a
chart from here and you can click on the
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pair that you'd like to open,
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but the way that I do it and I just
right click on the currency pair that I'd
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like to trade, then I just
click chart window. Okay.
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And there you can see it's opened
a chart just like this. Now,
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as far as changing the
timeframe, you can see up here,
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you can change it to
the M1 M5 M15 M30 H1 H4
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daily, weekly, or the monthly chart,
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depending on what timeframe that
you actually want to look at.
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So just playing around with this, you
can maximize the chart, just like this.
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You can zoom in like this,
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and you'll probably want to be looking
at candlesticks so you can click candles
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sticks. Or if you'd prefer
to see a line chart,
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for some reason you can click line
chart there, but more than likely,
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you're going to be wanting
to look at candlesticks.
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So you can zoom in just like this.
And that's how you open a chart.
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Just like that.
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The next thing that we're going to talk
about is how do you actually place an
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order? So there's several ways
that you can place an order,
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but the way that you more than likely
will want to place an order is just by
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going up here, you can click
down this little dropdown arrow.
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It's probably the fastest way to do it.
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And then you can select your risk right
here. So you can put in your lot size.
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So let's say 0.1 and then you can click,
buy or sell. So this is a market order.
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And the first time that you do this,
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you're going to have to accept these
terms and conditions. And there you go,
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I can go ahead and I can click buy here
and boom, there. I have an open trade.
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There's other ways that
you can open a trade.
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You can go here and you can select, for
example, just right, click on the chart.
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And you can say, you want
to do like a sell limit.
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You could also do like a buy stop.
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You could also click new order
here and you could customize it.
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So basically you could say,
you want your lot size here.
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This is where I want my stop loss to be.
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This is where I want my take profit to be.
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And this is the type of order that I want
to do. So you could do a market order,
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which is going to get into
the market immediately.
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Or you can do a pending order, which
be like a buy limit or a sell limit,
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or a buy stop, or a sell stop.
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And I'm not going to get into explaining
those because that's not the purpose of
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this video. This is just a
tutorial. So more often than not,
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you're likely going to just
be taking the trade like this.
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And then as far as modifying the trade,
here's how you can modify the trade.
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So down here in the trade where
you can see the trade, right,
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you can right click on here and you
can select, modify or delete order.
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And here you can change what
you'd like to change. So you can,
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you can decide to put your take profit
at whatever level you'd like to put your
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take profit at.
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You can also put your stop loss at
whatever level you'd like to put your
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stop-loss at. And you'll just click
modify another way to modify trades,
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which is probably easier is you can just
click on that green line and then you
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can drag it.
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So here you can see the stop loss I've
put here and then the take profit.
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I just clicked and I dragged
it up here and there.
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I put my take profit right there. So
that's how you can modify orders. Okay.
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Next thing is customizing
your chart on MetaTrader 4.
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So you can basically right click on here.
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And then you can go down to properties
and a list of properties will show up.
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That looks just like this.
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So if you want to change the background
from black to say white, for example,
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you can do that like that. We'll leave
it at black for now the foreground,
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you can also change which you can see
what happens when I change the foreground.
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Yeah. You can see it here. So if you
change the foreground to say red,
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for example, that's basically the
price, the X and Y axis doing that.
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I like to leave it just that
white, like that, the grid.
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So if you'd like to have a grid,
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you can do a grid or you could
actually completely remove the grid,
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which is kind of nice
like that. So for bar up,
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you can have it be whatever color that
you want to. And then for a bar down,
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you could have it be, say like
white, for example, right?
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That's a bar down a bullish candle.
You can make that, you know, say,
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you want to make that lime
green. You can do it like that.
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So that way it kind of looks
nice like that. And anyways,
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you can change all this stuff right here
to make the chart exactly the way that
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you want the chart to look
like. So there you have it.
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The next thing that we're going to
cover is how to draw lines and objects.
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So you can just come up here to insert,
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and then you can click on lines and
you can click how you'd like to draw.
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So you could do, for
example, like a trend line.
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So you could draw a trend line
just like that and well BAM, okay.
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You have a trend line or there's
other things that you can draw.
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Obviously you can play around with this
here. You can draw different shapes.
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If you'd like to draw like a rectangle,
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you could draw like a rectangle around
this consolidation zone could do also
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like a horizontal line.
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So you could just click wherever you
want the horizontal line to go in.
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It'll pull out the horizontal
line, just like that. Okay.
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So that's how to draw lines
and objects on the chart.
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The next thing that I'm going to show you,
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how to do is how do you
add custom indicators?
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So basically I'm going to show
you how to add common indicators.
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So you can go to insert indicators and
then you can decide whatever indicator
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that you'd like to use. So maybe
you'd like to use a moving average.
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You just go into a trend and
you go into moving average,
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and then you could select the period.
Let's say that I want a 20 period.
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Let's say that I want an
exponential moving average.
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And let's say that I want this to
show up as like this Aqua color here.
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And then you can just go ahead and
you click. Okay. And then boom,
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it'll draw on the chart.
Just like that. Again,
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you can see all of the
different indicators right
here under the indicator tab,
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whatever one that you'd like to trade
as well as you can see indicators right
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down here. So you can simply
just drag, for example, the RSI.
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If you want them to have the RSI on there,
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you can just drag it on there and
customize your settings, your colors,
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all that sort of stuff. And then boom,
it would show up on the chart right here.
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And you can just drag that down. So that's
how you add indicators to the chart.
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The next thing that you want to
do is save the chart as default.
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So this is going to help you a lot.
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So once you've got an idea of
what you want on your chart, say,
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you want the moving average,
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you want the RSI and you want it to be
this look and feel you can right click
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and you can click on template
and you can click save template.
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And then if you just type in
default and you click save,
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then anytime you open a new chart,
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it's automatically going to have
your default settings installed.
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So for example, and go ahead
and chart window and boom,
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it has the moving
average. It has the chart,
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the way that I like it to see it has
the RSI as well as it has the timeframe
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that is set as my default chart.
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So this is really helpful to actually
save you a lot of time from having to go
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in and put on all that stuff every
single time. Okay. The next thing is,
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we're going to show you how
to install custom indicators.
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So custom indicators really simple,
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all you're going to do is you're going
to go to file open data folder. Okay.
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You're going to click on MQL4 and then
you're going to click on indicators.
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And then all you're going to do is copy
and paste your indicator file inside of
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here.
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And then you can go ahead and close out
and you'll just go back over to your
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indicators window in the navigator
and you'll just click refresh,
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and then you'll see the
indicator loaded in there. Now,
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if you want to install an expert advisor,
you want to install a forex robot,
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then you just go to open
data folder, MQL4, experts,
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and then you'd install it right
here. You'd just copy the file.
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And you'd paste the file right
here. And then same thing.
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You just come over here to the navigator,
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you'd go to expert advisors and
you would refresh just like, so,
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and there you have it, right?
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So that's how you do everything on
MetaTrader 4 on your desktop. Yeah. Again,
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if this was helpful, then go ahead and
click like and subscribe to this channel.
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And now I'm going to get in and actually
show you how to use the MetaTrader.
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4 phone app. Okay.
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So now I'm going to show you how to
use the meditator 4 app on your phone.
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So you're just going to want to download
it from the app store and it looks like
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this. So you'd just pull it
open. And when you get it open,
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you're probably going to get taken
to a screen that looks like this.
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At this point,
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you can go ahead and you can click on
this plus icon and you can either decide
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if you'd like to open a new demo account,
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or if you'd like to log into
an existing demo account,
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then you just search for
your company servers.
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So just start by searching whatever
the broker's name is up here.
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I'm just going to do this.
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And then all you're going to do is put
in your broker number and password.
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So I'm going to do that
really quick. Okay.
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So now you can see that I'm logged into
my brokerage account and down here at
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the bottom, you'll see quotes. So here's,
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I can see the different quotes
for the different currency pairs.
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If I want to go ahead and add a,
another currency pair to the watch list,
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so to speak,
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then you can just go ahead and basically
click on the plus button to add it.
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And there you have it.
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Then you can also go ahead and take a
look at the chart just by doing this.
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You can change the timeframe
up here on the top, right?
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To whatever timeframe that
you'd like to see. Uh,
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you can also use these cross here,
here like this. If you'd like to, uh,
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you can also, uh, draw stuff if you'd
like to. So you can just click on,
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you know, whatever you'd like
to draw, um, on here as well,
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which it looks like it drew it
up there for whatever reason,
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but you get the idea. Then
if you'd like to trade,
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you can go ahead and click trade and
you can click your lot size right here.
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So let's say that you want to do a
0.1 lot size, and then you can go,
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click sell or click buy. Just like that.
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You can see your open trades
right here, just like that.
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And you can see your trade history
right here, which you can search by day,
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week, month, or you can do a
custom timeframe just like that.
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And then as far as the settings
go, you can play around with it.
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But the MetaTrader 4 app is
kind of really, really simple.
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You can change the language,
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you can also change kind of
what the charts look like.
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If you want to see a bar chart,
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a line chart or what you want to see on
the charts, you can change that here.
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But again, it's really, really simple.
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And if you play around
with it for five minutes,
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you'll understand everything that the
MetaTrader 4 phone app can actually do.
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Okay. Okay. That was the complete,
MetaTrader 4 tutorial for beginners.
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Now I'm guessing since you are a beginner,
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you probably are wanting to learn
a little bit more about forex.
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So I've included this video here,
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where I break down basically
an entire beginner's tutorial.
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Go ahead and click that video and
check it out. Also give us a like,
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and subscribe. If this video was helpful,
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we have a ton of more videos
on this channel to help
make your trading elf easy,
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lucrative, and fun.
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