MT4 allows
you
to trade on
the international currency markets,
no matter
where you are!
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At first glance the MetaTrader 4 program interface can look overwhelming
with all the icons on it.
Fortunately it is easy to learn how to use Metatrader as there is a lot of
help available. |
Trading with the correct Volume
Whenever you want to activate a trade,
you must type in the amount of money you want to trade with. The amount is
called Volume.
MT4 provides you with several methods
to activate a trade:
1. Using the New Order window
The normal position for the New Order icon is just below the menu
items Window and Help at the top of the screen. |
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If you click on the New Order icon it
will open the Order Window:

Shortcut key to open the Order
Window: Press F9
Volume is the second item from the
top in the Order Window.
2. Using the quick select buttons
at the top left of a graph

Volume is the number in the white
block.
The amount of money involved in a
transaction is determined by the type of account you are using:
a. Standard
Account: 1 Lot = $1,000.00 of your money which transfers $100,000.00
internationally.
Volume Your Money Pipvalue Transfer
International
1.00 $1,000.00 $10.00
$100,000.00
0.10 $ 100.00 $ 1.00 $
10,000.00
0.01 $ 10.00 $0.10
$ 1,000.00
b. Mini
Account: 1 Lot = $100.00 of your money which transfers $10,000.00
internationally.
Volume Your Money Pipvalue Transfer
International
1.00 $ 100.00 $ 1.00 $
10,000.00
0.10 $ 10.00 $0.10
$ 1,000.00
0.01 $ 1.00 $0.01
$ 100.00
c. Micro
Account: 1 Lot = $100.00 of your money which transfers $1,000.00
internationally.
Volume Your Money Pipvalue Transfer
International
1.00 $ 10.00 $0.10
$ 1,000.00
0.10 $ 1.00
$0.01 $ 100.00
0.01 $ 0.10 $0.001
$ 10.00
So :
on a standard
account a volume of 1.00 represents $1,000.00 of your money,
on a mini
account a volume of 1.00 represents $100.00 of your money,
and on a micro
account a volume of 1.00 represents $10.00 of your money
How do you
know you are on a micro account and not a standard account or mini account?
First of all
when you apply for an account, you will register for a standard /
professional, mini of micro account.
If you are
uncertain about the type of account, follow these steps to determine the
type of account:
In MT4 right
click in the Market Watch Window on any currency combination.
Select Symbols
in the popup window
Alternatively
use the shortcut key combination: Press Ctrl and U together to open the
Symbols Window.
In the Symbols
Window select a currency combination, then click on Properties.
If Contract size
= 100 000 then you are on a standard account and use the calculations in the
first set above
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<= The contract size is 100 000,
therefore this is a standard account
where volume 1.00 = $1,000.00
of your money. |
If Contract size
= 10 000 then you are on a mini account and use the calculations in the 2nd
set above.
If Contract size
= 1 000 then you are on a micro account and use the calculations in the 3rd
set above.
You must decide
yourself with what amount you’d
like to trade (never more than 10% of account size) and set the volume
accordingly.
If you are on a
Standard account and would like to trade for example with $50.00, then you
will change Volume to 0.05
NOW: SET MT4 to
display pips.
In the Terminal
Window (bottom of screen) right click in the Trade Tab.
Select Profit
and set to As Points
MT4 will now
show next to a trade the points and below that the Money Value.
If it shows for
example 25 points then it is 2.5 pips.