MT4 explained: how to login, open and close positions, add options, set pending orders and modify orders

How to log in?

1. Enter your trading account login and password, select the appropriate server and click ‘Login’. Please note that you can find this information in your Forex Club account in the‘Account Overview’ section. Just click on your trading account number to view your MT4 login and server information.

2. When successfully logged in to your MT4 trading account, you will hear a confirmation sound.

How to add and remove trading instruments?

How to add trading instruments:

1. Right-click anywhere in the Market Watch window.

2. Select ‘Trading Instrument’.

3. Select a group of symbols from the list.

4. Click on the symbol you want to add to the Market Watch, then click ‘Close’.

How to remove trading instruments:

1. Right-click the symbol you want to be removed in the Market Watch window.

2. Select ‘Hide’.

How to open a position?

You can open a new position in four ways:

1. Click the 'New Order' button from the Toolbar section at the top of the platform.

2. Press the F9 key on your keyboard.

3. In the Market Watch window, right-click the trading symbol and select ‘New Order’.

4. In the Market Watch window, double-click the trading symbol.

These steps will help to open a new order.

In the new order window, you can select the instrument, set volume, Stop Loss (SL) and Take Profit (TP) for your trade. The execution type will be displayed in the ‘Type’ tab and will be automatically identified by the instrument and account type you selected. Once set, click ‘Buy at Market’ or ‘Sell at Market’ to submit the order.

How to close a position?

You can close an order in several ways:

1. In the ‘Trade’ tab of the trading terminal, double-click the order you want to close, then click the yellow ‘Close at Market’ button.

2. In the ‘Trade’ tab, right-click on the order, select ‘Close’ and confirm. If One Click Trading is enabled, the order will be closed immediately when you select ‘Close’.

3. In the ‘Trade’ tab, click the 'X' button to the right of the order. When One Click Trading is enabled, the order will be closed immediately.

How to set pending orders?

MT4 provides traders with four types of pending orders: Buy Limit, Sell Limit, Buy Stop and Sell Stop. You can set Stop Loss and Take Profit to automatically close these orders.

Here are the steps to set up a pending order:

1. Open the ‘New Order’ window (or press F9).

2. Select the trading instrument, set the transaction volume, and select ‘Pending Order’ from the ‘Type’ drop-down menu.

3. The pending order setup will be displayed on the screen. Select the desired pending order type and set the target price and expiration date.

4. You can also set the Stop Loss (SL) and Take Profit (TP) in the usual way.

5. Click ‘Place Order’ to complete the pending order setting.

How to modify or delete order?

1. In the ‘Trade’ tab of the Terminal bar and right-click on the order to be modified or deleted.

2. Click 'Modify or Delete Order'.

Modifying order: you can modify price, stop loss, take profit and expiration date. Once you have completed your modifications, click ‘Modify’ to save changes.

Deleting order: if you wish to delete the order, select the ‘Delete’ option.