Deposit.redaksinet.com – Forex traders who have never heard or using the MetaTrader4 (MT4)? If You abreast of the latest developments, MetaQuotes, the developer of MT4 has been released MetaTrader5 (MT5) as a substitute for MT4. Basically how to use MT5 is almost the same with the previous generation, so that the user MT4 will not find great difficulty in carrying out the functions of the essence.
More, this article will discuss how to use MT5 with the assumption that You have to install the trading terminal with the basic features (built-in) in the condition of the raw material.
Interface basic MT5
Menu interface (interface) MT5 is very similar to its predecessor generation. Here are the list of the inter-face raw from MT5:
- Chart: face-to-face to show the movement of prices with candles Candle Wax candle, bar or line chart.
- Navigator: the navigator helps You to navigate the basic information about your account, indicators, Expert Advisors (trading robots) and a script that is generally installed in the chart.
- Watches Market: the list of partner / financial instruments. Each broker will provide a pair / instrument with a number of policies dependencies are different.
- Toolbox: the toolbox displays all kinds of trading activity, for example, information on the positions, trading history, Calendar, News, and records the activity of the terminal MT5
- Toolbar (shortcut): toolbar as a shortcut to using the basic functions such as opening the window from the chart, change the chart view, and change the time marker.
- News schedule: One a plus if You are a news trader. MT5 including the launch schedule of economic news ter-built ins with chart. The white color shows the impact of low, blue for the impact of the medium, dah red for high impact news.
How to make a command in MT5
After downloading and installing MetaTrader5, You’ll want to immediately use it to buy and sell to earn a profit trading. Whether the order of the MT5 is not much different from the previous generation. There are two types of order that instant execution (market execution) and wait for orders.
Press the F9 key or right-click – > “Trading” to display the sequence window menu. Here is a more detailed explanation of the sequence of MT5:
a. instant commands
Instant command is the command to open a position based on the current price. There is a possibility of purchase orders or commands that will be executed (filled) a little different with the price of the initials because of irregularities or request.
B. waiting for orders.
Pending order is an order to determine the price level / specific as a condition for opening positions. The position will not be executed (filled) as long as the price does not move closer or touch / price conditional.
The difference with the previous generation, the MT5 has 2 order is delayed, namely the limit buy stop and sell stop limit. The second order is delayed mainly intended for experienced traders who want the execution is more accurate in market conditions stable.
The order of Pending in MT5 by default have a period of validity of the GTC (continue to be applied until the cancel button) or according to the Setting time (today, specified or the specified day).
c. Volume (trading lot)
Unit of currency that is being traded. 1 unit lot represents 100,000 units of the base currency. As an example of 1 lot on EURUSD represent to $ 100,000.
Caution when determining the magnitude of the lot. Your Margin will be drained very quickly if the price moves against the position with a lot. Note the scale of the risk management by the method of the position of the encumbrances.
d. stop Loss
Stop loss is the determination of the price level / specific in where You will limit the risk of the maximum loss if the price is too much against the position of the trade. Position with the floating minus will be liquidated (reduce the account balance of life) so the price is touching the boundary line losses.
e. taking advantage
Take the profit function the same as the Stop Loss, the difference is only on the liquidation of the position with floating plus (earnings). You also need to determine the level of TP, so the profit is locked (increase account of Your life) before the prices move too fast.
So the maximum profit, You can learn the ratio of risk / reward to know suggestions how far the line position of the stop loss and take profit can be withdrawn from the open position.
The comparison between the MT5 to MT4
At this development stage, MT5 foreseen by its authors as the trading terminal with the support of multi-asset (stocks, indexes, CFDS, forex) and access interbank by default (built-in) which allows the platform to be software for trading the market. In other words, the developer aims to “raise” the level of their trading terminals to the next stage.
If discussed further, below is a comparison between the MT5 with the previous generation:
By default, the MT5 is clearly superior, all features ranging from indicators, news updates, until the market to the top of the EAKOVER from the beginning of the installation.
- Display Interface
- If You do not tamper with the MT5 to change the total, then the appearance of the Raw materials he can be generalised to the previous generation. The only difference in the icons of the tool bar is large and has a color change.
This is the most important factor for the sustainability of MT5. MT5 has a programming language different with MT4. As a result, Indicators and trading robots (EA) of MT4 can not be exported to MT5. So also on the contrary. On the contrary, Metaquotes has been providing some of the indicators specific to the format MT5 .ex5, together with a number of EA that can be installed in MT5. Manifold You can find on the site MQL5.
Until recently, the MT4 is still a popular choice because of many features that can be removed freely for download by the user. Therefore, it is still relatively difficult for MT5 to compete with its predecessor.
But over time, the use of MT5 is expected to increase with the increasing number of brokers offering MT5 free of charge to the client.
If You want to understand more about the Price Action, get the explanation of a more practical, You can watch the video review here: