MetaTrader 4 (MT4) is a famous trading platform traders use worldwide due to its user-friendly interface and powerful analytical tools. With the increasing demand for mobile trading, the platform is now available on iPhone, enabling traders to execute trades and monitor their positions. However, using metatrader on iphone requires knowledge of advanced tips and tricks to optimise your trading strategy and make profitable trades. Whether new to trading or experienced, this article will provide valuable insights to help you succeed in the market.
Customising Your Chart
Customising your chart is one of the most important things you can do to improve your trading strategy. By adjusting your chart’s colours, layout, and technical indicators, you can better understand the market trends and make more informed trading decisions. With MT4 on iPhone, you can easily customise your chart by tapping the chart icon in the bottom toolbar.
You can adjust the time frames, add technical indicators, and change the chart style. You can also change the chart’s colours and add gridlines to make it easier to read. By taking the time to customise your chart to your specific trading style, you can gain a better understanding of the market and make more profitable trades.
Using Expert Advisors
Expert Advisors (EAs) are automated trading systems that can be used with MT4. These programs can analyse market data and execute trades based on predefined rules. EAs can be particularly useful for traders new to the market or wanting to automate their trading strategy.
With MT4 on iPhone, you can easily install and use EAs. Navigate to the “Navigator” tab in the bottom toolbar, select “Expert Advisors,” and drag and drop your EA onto the chart. You can also adjust the settings of your EA by right-clicking on it and selecting “Expert Advisor Properties.”
However, it is essential to note that not all EAs are created equal. Some may be more effective than others, and some may be scams. Therefore, it is essential to do your research before using an EA and only to use reputable programs from trusted sources.
Managing Your Trades
Managing your trades is another crucial aspect of boosting your trading strategy with MT4 on iPhone. With the mobile app, you can easily open and close trades, monitor your positions, adjust your stop loss and take profit levels. Read more about: learn how to trade.
One helpful feature of metatrader on iphone is setting up push notifications. You can receive real-time alerts when your trades are opened or closed or when specific market conditions are met. By staying on top of your trades, you can react quickly to changing market conditions and minimise losses.
Another essential feature of MT4 on iPhone is the ability to set up trailing stops. Trailing stops are stop-loss orders that follow the asset’s price as it moves in your favour. This means that if the asset price starts to fall, your stop loss will be triggered, helping to protect your profits. Trailing stops can be handy for traders wanting to lock in profits while giving the trade room to run.
MetaTrader 4 is a powerful trading platform that can be used on various devices, including the iPhone. By customising your chart, using expert advisors, and managing your trades, you can boost your trading strategy and make more profitable trades. With the advanced tips and tricks outlined in this article, you can take your trading to the next level and achieve your financial goals. However, it is essential to remember that trading always involves risk, and it is important to only trade with money you can afford to lose.