One of the most used trading platforms used by Forex traders is the MediaTrader 4 (MT4). You are at the right place in case you are a user of a macOS with desire to engage in trading using the MT4. The MT4 has advanced charting operations, automatic trading facilities and high speed execution; hence suitable for Forex traders.
Learning how MetaTrader 4 on your MacOS
Why choose metatrader 4 for forex trading?
MetaTrader 4 is suitable to both the beginners and the experienced Forex traders due to its broad capabilities of features. This is why you will want to choose the MT4:
- Advanced charting: See plenty of timeframe real time charts.
- Automated trading: Automate trading with Expert Advisors (EAs).
- Custom indicators: Add your own indicators, according to your trading preferences.
- User friendly interface: The design of the user interface of MT4 is simple to use.
- Wide broker support: MT4 is supported by a host of Forex brokers.
The above features render MetaTrader 4 to be a powerful tool that can be used to deal with trades and the trends in the market.
Installing metatrader 4 on macos
The installation of metatrader 4 mac os is perhaps going to need an extra procedure as it mainly is developed on windows. The following score card is a beginner’s solution:
- Step 1: Obtain the file containing the MacOS version of the installation of the MT4 via the download section of your broker site such as in the case of TMGM.
- Step 2: There will be an option of opening the downloaded file and then begin to install the file.
- Step 3: Click on the file and drag the icon of the MT4 to the applications folder.
- Step 4: In case there is a problem with installing, it is possible to resort to third-party software, to run the windows programs on macOS.
Installation of MT4 is now done and now you are set up to establish your trading platform.
Setting up your metatrader 4 account
The second process after installation is account creation. To trade begin by investing in your account using the following steps:
- Step 1: Open the MT4 application.
- Step 2: Click on the file and choose the option to login to the Trade Account.
- Step 3: Enter your broker address, account number and password and click on the log in button.
- Step 4: Click on the login button and use it to couple your platform (MT4) with a live or demo trading account.
Your account is now ready and you are free to trade.
Navigating the metatrader 4 interface
The interface for the MT4 is made in such a way that it provides you with everything to trade. Assuming that you are in a hurry, here are some guidelines:
- Market watch: Shows the list of trading instruments and their existing prices.
- Navigator: Contains your accounts, indicators and Expert Advisors (EAs).
- Chart area: It is an area where you can observe price charts and apply technical indicators.
- Terminal: The trading history, open positions and other account information.
Becoming acquainted with these sections will make you make good use of the MT4.
How to start trading on metatrader 4
After all the installations, you are allowed to commence trading using MT4. The following is an example of how to trade in the first time:
- Step 1: Get a chart of the currency pair that you want to trade.
- Step 2: Click on the right hand side of the chart, create a new order by clicking new order.
- Step 3: Set your trade parameters (volume, stop loss, take profit).
- Step 4: Select to sell or buy and click on Place.
Your trading has been opened, and at the terminal you can track it.
Conclusion
The procedure of installing MetaTrader 4 on a Macintosh system is very simple despite the fact that this software was initially created on the windows platform. MT4 has the strength of enabling you to achieve success in Forex trading whether you are a beginner or an experienced trader.