MT4 Strategy Tips
By www.forexblacklist.com
Introduction
• The MT4 trading platform also called the
MetaTrader 4 platform has a number of
features, which can help you save both time
and effort while trading. While the overall
MT4 trading platform can be quite
intimidating to a newbie trader, the fact is that
it is probably one of the only platforms in the
world which essentially makes trading easier
and more straight forward.
Avoiding scams
• First off, you should make sure you are not
spending your hard earned cash on some sort
of scam. Therefore, before buying anything,
always check http://www.forexblacklist.com
first.
Using Templates
Templates in MetaTrader 4 help traders save time
and also helps them customize many aspects of
their trading. Templates can be used to set various
views of the charts, in addition you can also set
indicators and sets of various indicators. Traders can
customize their templates using a number of
different combinations of expert advisors and
indicators, which allow them to switch from one to
the other quickly using keyboard short cut keys or
by simply clicking directly on the chart and then
picking another template.
Lot Sizes using MT4
The most efficient way to trade with MT4 is to use a
number of lot sizes. Your lot sizes shouldn’t be too
big for the size of your account owing to the fact
that even a small draw can literally clean out your
account. Traders are advised to trade using just 5%
of their margin so for instance if you have a small
account of $1000, then 5% would be $50, which can
be used to trade a mini lot which ensures that your
trades are safer. By avoiding to over leverage your
account you are ensuring that even though your
profits are small your overall risk is also tiny.
Use a stop loss to avoid unaffordable
risks
MT4 uses a system also called a stop loss which
essentially allows for a trader to set a price or level below
which his or her loss does not go. So essentially if you
have an account in which you purchased a currency pair
but do not want to lose more than 5% of your investment
on you can set the stop loss so that as soon as the loss
hits 5% the system will automatically exit the market. A
system such as this will also help in the event of a power
failure, loss of internet connection or computer
problems. The stop loss will ensure that your investment
does not drain your account if left, unattended or
unmonitored for an extended period of time.