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Starter Guide – MetaTrader 4 Training

MT4 Platform: Installation & Training

Download the MetaTrader 4 Android app here or search for “MetaTrader 4” in the Google Play store.

After downloading and installing the MT4 app, find it on your phone’s Applications –section and tap on the icon to start.

This manual is written especially for phones using Android version 4.0.4. Please note that if you are using an older version of Android phone some functions may differ slightly. You can see which Android version you are using by clicking the menu button and choosing Settings and About phone.

Login

After the MT4 app has been started the New Account login screen should appear, which looks like this:

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In case the New Account login screen does not appear, press the Menu-button then choose Accounts and click on the mt43 symbol from the right top corner.

 

Login to an existing account

If you already have an existing MetaTrader 4 account from FXJST with login/password, please select this option. Then you can choose the trading server by typing FXJST to the search bar (where it reads: Enter company or server name).  After typing FXJST you may press the back button to see the complete list of available trading accounts of FXJST.  The following trading accounts should be available:

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FXJST-Demo

Choose this option if you want to continue using your existing demo account. If you want to create a new demo account, please see chapter 2.2 of this starter guide: Open a new demo account.

FXJST-Live

Select this option for existing Standard or Pro live trading accounts.

After choosing the correct account type by clicking it, you can log into MetaTrader 4 Mobile for Android with the same login information provided for your existing FXJST MetaTrader 4 demo/live trading accounts.

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Open a new demo account

Choose this option if you want to open a new demo account. Then type FXJST to the search bar (where it reads: Enter company or server name) and click on FXJST-Demo.

Next you need to fill-in some personal information as well as the desired account information to create a new demo account.

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Switch between accounts

From the Accounts section, you can see every account that is used for the connection. In most Android phones this requires you to press the menu button of your phone and then select Accounts. Next, choosing the    at the top right will bring you back to the login screen, where you can connect using a different account. To delete an account, swipe your finger from right to left on the account and a red Delete button will pop up. In some Android phones you need to hold your finger on top of the Account and a Delete option will appear.

The number of the currently connected account is show at the top of the window. Below connection parameters are shown:

Traffic = amount of incoming and outgoing traffic for the current session.

Server = the name of the server, to which the mobile terminal is currently connected.

Access point = the name of the access point, through which the terminal is currently connected to a server.

 

Main sections

Menu

At any point while using MetaTrader 4 Mobile, you can press the menu button on your phone to access a screen with the following options

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New Order – Allows you to place a trade order.

Symbols – Allows you to add an instrument to your quotes list. From here, you can also change the order of the currency pairs as they appear on your Quotes list.

Accounts – This screen displays all your accounts that have been accessed via the mobile platform.

Messages – Here you can see any the messages sent by MetaQuotes.

Settings – Allows you to change certain aspects of your MetaTrader 4 for Android, such as how your quotes are displayed and chart properties. For more information about Settings, please see chapter 5 of this starter guide.

About – This option tells you about the MetaTrader 4 version that you are currently using.

Quotes

Once you have logged in, the Quotes tab will be the first screen you can see. Here you will see the offered currency pairs of FXJST that are defaulted to come up.

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You can edit your list of Quotes by pressing the menu button of your phone and selecting Symbols button. This will take you to a screen that displays all the symbols you are currently displaying on your Quotes chart. For each currency listed you will see a double arrow. You can hold onto this double arrow and drag the currency pair around to arrange the order it is displayed on your Quotes chart.

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From this screen, you can also hit the  button to add more currency pairs to your Quotes list. Once you do so, you will be taken to an “Add Symbol” at the top of it. There is just one choice to choose from: “Forex Foreign Exchange”, so please select that one. On the next page you will see every currency pair offered by FXJST available on the mobile platform.

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If you tap on any currency pair, it will be added to the Quotes page. From the Quotes screen (on the front page), you can also click on any instrument to place a trade, display a chart, or view currency pair properties. If you tap on any one of the currency pairs from this screen, a pop-up box will appear with 3 choices for you: New Order, Chart and Properties.

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Hitting New Order will enable you to place a trade for the specific currency pair you’ve selected. Selecting Chart will allow you to see the chart of the specified currency pair.

Chart

The chart area of the mobile platform will always show the current currency pair you have selected.

You can change the currency pair that is displayed by hitting the  mt411 button at the bottom left of the screen.

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mt413  button allows you to switch timeframes for your chart. For example, if you want a 1 minute tick chart, you would select “M.” “M5” stands for a five minute timeframe, “H1” for a one hour, and “D1” for one day, etc.

mt414  button allows you to choose the type of chart that is displayed: bar chart, candlestick, or line chart. In some models this option has been replaced by a crosshair button that allows you to see the price at a particular time by moving the crosshair on the screen.

mt415  button allows you choose the Indicators on the current currency pair.

mt416 button on the far right allows you to place a new order.

Trade

Placing a Trade

You can place a trade either by hitting menu on your phone and then selecting the New Order  option (this opens up the Trade window for whichever currency pair you are displaying a chart for), or by clicking on the instrument you want to place a trade for via the Quotes screen.

Upon choosing New Order, you will be taken to the screen for placing a trade. From here you can choose the volume, instrument, and type of order.

Please select the volume for your trade. This is done by either tapping on the arrow buttons, or by clicking on the number itself and manually inputting the volume yourself. The arrows next to the volume entry box will enable you to raise or lower the volume by one micro lot (1,000 units) of currency. Then you may select the currency pair you wish to place a trade for.

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After that you can choose from 5 different order types where the default order type is Market Execution.

Market Execution: A buy or sell order that is executed at the market price.

Buy Limit: A pending order to execute a buy position with an entry price below the current market price.

Sell Limit: A pending order to execute a sell position with an entry price above the current market price.

Buy Stop: A pending order to execute a buy position with an entry price above the current market price.

Sell Stop: A pending order to execute a sell position with an entry price below the current market price.

Once you have the parameters of your trade set, hit the “Next” button in the top right hand corner of the platform. If you have selected one of the four pending orders that are there (not Market Execution), the next page that you see will have the currency you are trading at the top of the screen, with the type of order you are placing and the volume of that order right below it.

You will then see the spot bid and ask price for the currency you have selected. Beneath the spot prices, you’ll see the parameters box for your trade. From the top down you have Price, Stop Loss, Take Profit, and Expiration. The Price section is the price at which you want your pending order to execute. It is your entry price. Please remember that whether your entry price goes above or below the spot price depends on the particular pending order you have selected. When you tap on the Place section, a keyboard pops up for you to manually input the price at which you want your order to execute.

The same idea is held true for your Stop Loss and Take Profit sections as well. Simply tap on the area and a keyboard appears. Here you can enter your Stop Loss and Take Profit areas once the key board is up just tap on the Previous or Next tabs. Once you have completed setting the prices hit the Done button located on the keyboard.

From this screen you also apply an Expiration for any pending order that you place. This is defaulted to GTC (Good till Canceled), but you can also set your parameters for your expiration.

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Once all of your parameters are set, please hit the Place button and your order will be placed.

If you place a Market Execution order instead of a Pending order you are placing an order to be executed at the market price and when you hit next the page what you see may be slightly different. While you will not see a “Place” area (as your entry price is the spot price), you will still see the “Stop Loss” and “Take Profit” fields. They function the same here as they would when you are placing a pending order. Simply tap the area and manually input your stop loss and take profit.

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From this window, you will be able to specify your Deviation as well. The “Deviation” area allows you to set your maximum deviation for the trade, allowing you to control the degree of slippage you are comfortable with by using when placing a market order. Again, you simply tap on the area and set how many pips you would allow your order to deviate from your selected price (in your favor or against you) before you simply do not want the order to execute at all. At the bottom of this page, you see a red “Sell” button and a blue “Buy” button. Once you tap on one of those buttons, your order will be executed. Instantly you will see the details of your order pop up in the top of the page along with the price you entered the market at. Please hit “Done” to go back to the chart tab, or “Back “to place another order.

Following a Trade

From the Trade tab of the platform, you will see all of your open orders along with your pending orders and all of the details of your account. You should see the following details of your account as long as you have an open position.

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Profit = the amount of money you have made or lost in your account based upon your open positions. If you are winning money this number will show as a blue number and if you are losing then it will show as a negative red number.

Balance = the total amount of money in your account. This number does not account for any     unrealized profit or losses.

Equity = your balance plus your unrealized profit or loss.

Margin Level = shows the relationship between your margin and your equity. When your margin drops down to your equity; liquidation occurs and you are closed out of all open positions and all of your pending orders are canceled. If your margin level hits 100%, which means your equity has dropped down to your margin requirement, a margin call will occur.

Margin = the amount of funds required to keep open the positions you currently have open.

Free Margin = the amount of equity you still have left to open up positions with before you receive a margin call.

Below the parameters of your account you will see your Positions. These are all of your open positions in your account.

When you tap a position, you will be able to see more detailed information of a particular trade including stop loss and take profit price, the date and time of execution, the ID number for the trade, along with any other additional charges such as swap, taxes or charges for the position.

Below Positions, if you have any pending orders, they will be shown under the Orders section of the page. There you will see the currency pair, what type of pending order it is, the volume, the entry price, and then the current spot price of the position to see how close your order is to being executed. Just like with open positions, you can also tap the order for the pending position and get a box detailing the parameters of the order. This box is the same as the box for open orders except instead of showing “swap, taxes and charges”, it shows “Price, Date and Time.” The price is the current spot price, the date is there only if your put an expiry on the order, and the time is also related to any expiration on the order.

If you want to edit any of the orders on the “Trade” tab, then simply highlight the order once by clicking on it, and then hold your finger against it for about one second. This will bring up a pop up box that will show you options to Close order, Close partially, New order, or Modify order.

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Close = brings you to an area where you can close your order or modify the stop loss or take profit.

Close partially = by choosing this you can control when and how much of a position you want to close

New Order = brings you back to the trade tab to place a new order.

Modify Order = much like the close function only you can only modify your stop loss or take profit.
History

The History tab enables you to view your trading history. If you press the  sign on the right, you will be able to choose the time period for your history report.  Choose from: Today, Last week, Last month, Last 3 months, or Custom. Custom enables you to select the time period of your choice.

The Custom button allows you to view your trade history for a specified time frame, as well as all your trades for a select instrument.

To view your trades by instrument, enter the symbol (i.e., EUR/USD) into the search box. This will display all your closed trades for the instrument selected.

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Settings

Settings option can be accessed from hitting the menu button on your phone and choosing Settings. This allows you to adjust various parameters of MetaTrader 4 for Android. From here, you will be able to customize how your quotes and charts are displayed.

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The first option is Advanced mode. The “Quotes” page can be displayed in an Advanced mode or the default simple mode. In the Advance mode, quotes are shown with spreads, time data, and High and Low prices.

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Advanced mode                                                       Default quotes display

 

If you click on Charts, you will be able to customize what you see on the chart. From here, you can change the type of chart you’re displaying. Check Show volumes and Show trade levels depending on your preferences. When Show trade levels is enabled, all positions and pending orders of a symbol are shown on the symbol chart. Trade operations are displayed as lines with signatures at the level of the price, at which they were executed.

 

We hope that this document has helped you to install MetaTrader 4 Mobile on your Android OS and you are ready to start trading with FXJST.

If you have any further questions, do not hesitate to contact our Customer Support as we are here to help you.

MT4 Platform Training