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Tips for Using MetaTrader 4 that Work Like a Charm

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Tips for Using MetaTrader 4 that Work Like a Charm

If you want to get the most out of the MetaTrader 4 platform, you must know how to use it successfully. You may learn more about this trading platform by reading the following hints and advice.

Turning Off Grids

Grid views annoy the heck out of most traders. In order to be a successful trader, one must be able to see the price action clearly. The less cluttered the screen is, the more enjoyable it is to watch. When you need to make a quick decision, you won’t enjoy looking at a packed screen. CTRL+G can be used to turn off your grids. When you do this, your screen will be free of the grid. It is possible to delete the chart by right-clicking on the chart and then scrolling it down before selecting “Grid.”

Showing the Ask Line

The ask line is one of the most essential features of the MetaTrader 4 platform. When manually placing a transaction, this Ask line is critical. Occasionally, you may not notice that the spread has already widened to 5 to 10 pips. This is a lot more than what you were aiming for. Ask lines are extremely significant since they allow the trader to quickly see his entry point if he is taking on a long-term position. To ensure that you meet your profit target, traders may perceive that the price needs to move further in order for a short sell. For the ask line to be seen, you must first choose the chart and press F8. Finally, select “Show Ask Line” from the drop-down menu.

Avoid Using White Backgrounds

It’s common for rookie traders to set their backdrops to white, only to discover later that their eyes have been harmed as a result of poor decisions.

First-time traders must realize that they will spend a lot of time on the screen, reading charts, and analyzing transactions. This requires a lot of time spent in front of a computer. Your eyes will be exposed to an excessive amount of blue light if your screen background is white, which can cause eye problems and problems with your sleep. In order to do this, you should reset your background. This can be done by using the F8 key before picking the color tab at the upper left of the screen.

Setting a Default Chart

You can save and use it as a template once you’ve found the perfect chart to meet your requirements. You can make as many templates as you want. Right-clicking on the chart and then selecting the desired template is the quickest method. Finally, select “Save Template.”

Using the Hotkeys

It’s critical to keep in mind that if you switch chart templates, you’ll lose all of your existing analysis. Using hotkeys can help you avoid this. Indicators placed on the chart can be used to alter the hotkeys.

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