Useful Tips About Forex MetaTrader 4 For You

Useful Tips About Forex MetaTrader 4 For You

Talking about forex trading, usually also talking about Forex MetaTrader. Metatrader is a trading software created by MetaQuotes Corp to make it easier for users to make online transactions. With metatrader you can monitor price movements via PC, or cell phone

The following are some useful tips to increase the knowledge of traders about the metatrader.

1. Change the Password

To change the password, forex trader can click the tools menu and activate the options menu. For other easier ways, you can press the Ctrl + O key. Select the server table and then click the “Change” button.

Here you can change the trader’s password by:

  1. Enter the old trader password in “Current password”
  2. If you want to change the trading password, choose “Change master password”. You can also choose “Change investor (read only) password”.
  3. After that enter the new password in the “New password” box and also in the “Confirm” box. The password must consist of numbers and letters. The number of characters recommended is at least 6 characters. In creating a password you should not use your login number. Don’t also use passwords that are too simple like 12345, or the like.
  4. Finally click OK and finish

2. Maximum Deviation

What is maximum deviation? Maximum deviation is a tolerance limit when prices suddenly jump. Through maximum deviation, you can set the tolerance of how much distance from an acceptable price for trader order execution. The trick is quite easy, just click (check) the box “Enable maximum deviation from quoted price” then specify how much you tolerate.

For example:

when you want a buy order at a price of 1.36195 for EUR / USD when the market is stable or normal, you can easily get the price. But what happens if prices are volatile due to the extraordinary news and market sentiment? When your price order reaches the broker’s server, it turns out the price has reached 1.36205. This is what traders often refer to as “slippage”. As a result you will fail to order and requotes will occur. The server will ask again if you want to execute the transaction at the price of 1.36205.

If you don’t want that to happen, you can use this maximum deviation facility. Determine the maximum deviation you want.

May be useful.

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