MetaTrader4 Tutorial For Beginners | Austin Silver

what's up guys welcome back to the channel my name is Austin silver in today's video we are going to talk all about metatrader4 we're going to talk about why this platform is so important for you as a retail trader majority of the Forex community is using this platform to enter and exit their trades now I use a separate platform to actually do my chart analysis but having your meta trader setup properly is very important if you're going to be a consistently profitable trader if you're gonna really treat this like a business and try to be here for the long term like I know you are then you're gonna want to not only have your trading view set up which you saw in one of my previous videos I'll link it up here and down below but you're also going to want to have your execution platform set up which is here metatrader4 now there are other platforms like metatrader5 ctrader all these other things and I'm not here to knock them I am only here to show you why I choose Metatrader why I prefer this platform and why I can't really see myself changing platforms anytime soon at least so metatrader4 is probably one of the oldest execution platforms for retail traders like you and I that exists as you can see here was created in 2005 ctrader is old as well but metatrader4 always has been in my opinion a little bit more user-friendly so I just said I wasn't gonna knock the other ones I'm not knocking ctrader but I would say as far as being user-friendly nothing compares to Metatrader and I can actually take that a step further to just say I have meta trader here filming this video on a Mac laptop this is a MacBook Pro 2015 it works for me because I was able to find the dmg download file for metatrader4 for a Mac so if you just type in here metatrader4 for mac you'll be able to find those download files as well but if you need it for a PC like I know most of the people watching this - all you need to do is type in metatrader4 in your google search and a bunch of results are gonna pop up the first one of course is gonna direct you to their website now you can go there and download it but they're gonna try to like manipulate you a little bit into downloading metatrader5 but in reality you want to make sure you're downloading the metatrader4 dmg file if you down on this Google search you're gonna be able to find how you can download it for your phone and also other sources to get it so if for some reason this first link is not working just scroll down and you can find many other sources and if you can't find it send me a message drop a comment in this video I will make sure that we can get you a link to download metatrader now once it's downloaded you're gonna have a program on your desktop that you're gonna open up and you're not gonna really know what anything looks like the final piece of that program looks something like this once you have it set up for the style of trading that you do now this is set up here for my a SFX training program this is what I teach in my course and this is what I use every single day to execute my winning trades but when you first open up Metatrader it's gonna look something like this right look familiar with all these weird white grid lines back black background and these neon green bars so I think in order for us to get from here to here I need to piece it together for you slowly so let's again start here at the top left of our screen this is the entire metatrader4 window when you first open it when you first come in after you've downloaded the file from the internet you can see at the top I have my account number I opened up at a practice account just to make this video with a wonda Awan does my broker here in the united states they're regulated and that's why I choose to use them you can see it says it's a demo account and then it gives you the currency pair that you're looking at as well as the time frame from here if we move across from left to right starting at the top of our screen you'll see it almost looks like any other program you have your file your view insert charts tools window and help buttons those are all going to be useful to you as you're kind of familiarizing yourself with the platform for me all I use here as far as the file view insert charts all that all out occasionally uses here and file maybe set up a new chart with this or when I want to save something I'll use save as here or when I want to open account or log in to a new account I can do that from file as well there's nothing really to print I don't really need to open the data yet we're gonna come back to that in a little bit but as far as just preliminary stuff setting up your first account getting started with Metatrader opening an account saving your chart layouts and opening a new chart are the important pieces you need to know from the file tab here beneath the file tab you'll see a little box with a green + arrow here this will open you up to select a currency pair you can see they'll have separate drop-down menus that you'll be able to use to find the pair that you're looking for all you have to do is click and it'll change you'll know that you're looking at a different currency pair because it'll say the pairs name here in the top left and also here in the center of the screen at the top as well so two places you can see exactly what currency pair you're looking at even I forgot the third one down here at the bottom - on your tabs now next to the box with the green arrow you'll see that you're able to set these profiles I have a couple old ones saved that I used to use the profiles will actually change the entire chart the candles the background the time scale everything profiles are not really necessary for what we're trying to do when we want to talk about customizing the chart changing the background changing the candles to something that fits to you or maybe - if you're trying to customize it like how I have mine here you don't need those profiles we're gonna come to the templates and indicators in a few minutes and that's what you're gonna need to be able to customize the charts but sticking with the plan here let's move left to right you'll see there's a couple more tabs these four are important so let's talk about the first one this is market watch this is where you can see your currency pairs open on the left side of your screen you can click and drag this bar around the screen if you want to but I personally like to leave it on the left side so you're looking at the screen now and you're probably thinking Austin where all the currency pairs I only see a few all you have to do is right click here in the white space and hit show off the rest of them will pop up you can actually click and drag these and it will change them in order so if you want to alphabetize them you can do that no problem just click and drag you'll move them around if you want to apply this to the chart you're looking at what do you think you do click and drag right onto the chart and look it changed it to euro AUD so very simple there that's your market watch next to that you have your data window the data window isn't important I'll never have it open it just takes up space next the data window is the Navigator the Navigator is good because if you're using indicators or if you're using expert advisors anything like that this is where you're gonna be able to access them pretty quickly if you have multiple accounts and you can see I have some of my older traders weigh accounts still here and things like that you can access them through the navigator as well and that's just right here the little folder with the gold star next to that is our terminal this is where you're gonna find your account balance your exposure your account history the news any alerts your inbox right things like that any articles that are important but the most important thing with the terminal is that you're gonna see your balance your trade your size or stop your entry your take profit the price the commission you're paying and your profit or loss everything is gonna be here in your terminal when I'm trading I would recommend that you keep the terminal closed if you were to place a trade like let's say for example if we just for this video if we open up a sell order right here when one once you open the trade you'll see all those numbers pop up you'll want to be able to click that X only if you're trying to close the trade so when you're in the middle of your trade I would keep the terminal closed like that but when you're ready to close or ready to enter I would open the terminal up and use it for what it gives you it does give you a lot of valuable information once you've entered a trade just another little side note let's say we were an interim buy if you're using one click trading like I just did here that's using the cell or the buy buttons here at the top left of the screen you can change the lot size right in here see how I'm set on 0.01 if you're using one click trading you're gonna be able to click and drag from your entry price to set your stop loss from your take profit you see how it says stop loss and take profit right there I can drag those then instead of having to manually input the numbers right much easier so that's another reason why I prefer to do my trading here on the desktop rather than on the phone or anything like that being able to click and drag my stop to the exact levels that I want it really does help and when you put your mouse over it it'll tell you the distance in pips it's forty nine point seven pips and it's three dollars and thirty six cents something like that you know what I mean so here that's our terminal and that's our one click trading now next to the terminal in the one click Trading is the strategy tester again that's for any type of back testing you want to do not typical stuff so you won't need the strategy tester here you could open a new order if you use the new order button for me I never do this ever all I like to do is my one click trading the way you can make one click trading pop-up is if you right-click anywhere here in the middle of the chart you see it right there one click trading just pop that on and it'll pop right up for you moving across here you'll get into some of the auto trading features and and ëi stuff I don't do any trading by EA or by you know robots anything like that so you can see it's turned off I don't use it now again still moving left to right you want to make sure you're not on a bar chart for me ie will only use candles and occasionally a line chart but most of the time I'm right here using candlesticks and it's very important that you're using candlesticks because they give you a lot more detail about the chart I have other videos and in the course I talked a lot about how important it is to use one color candles and why I think you should be doing that that's you know in the trading view video we go into a little bit of detail about that but here you can see the candles are actually two different colors some are white some are black on the inside that signals the difference between the bullish and the bearish candles we're gonna change those colors in a few minutes next to the candle buttons you see the zoom in zoom out buttons you can do that by hitting command + command - and that'll zoom you in zoom you out as well this button right here that says arrange windows on non-overlapping tiles will actually pull all of your tabs here at the bottom pull on to one screen so you can see every pair on one screen I don't think you need it I like to look at one and just blow one up it's much easier for me now they'll enter these last five buttons very important first you want to always keep this one to scroll the chart to the end on tick that selected what that's gonna do is when you're scrolling back it'll automatically make sure that you can jump right back here to that chart that is ticking you also want to use this shift end of chart from the right border because what that's gonna do is give you some space over here as you're looking for potential analysis as we're looking at levels that it could be maybe potentially moving too you want to be able to see that free space it helps visualize the direction of your trade so I like to keep both of those selected it I'm doing back testing just turn the green one off and it won't skip you to the front see now I can scroll back as far as I want okay now we've covered basically the entire top toolbar I take a sip of my tea these next three tools are very important you see the time frames right here right the one minute five minute 15 all that you also have time frames right here okay in between excuse me the time frames here are in between two very important buttons you have your indicator list here which comes with a bunch of built-in indicators plus my custom ones that I've added here and then you have templates here now templates are what are gonna change the back of the entire chart templates if you have indicators on it are gonna actually save together as well the indicators themselves are more of the pieces that you have that paint the whole picture of the chart so to get your chart looking how I have mine here this is a template but it has indicators added on to it so what we do again to start piecing that chart together is pretty simple so let's just look at a 15-minute chart to make it simple so we can see each day the first thing we're gonna do is right click in and go to properties you see you have a group grid here you can turn that off and that does help but we can even go past that by going to properties properties has a lot of detail you can show your open high/low close show your ask line right you can select the type of candles your auto scroll all that stuff but taking that even deeper would be changing the colors here you can see we have the background set to black the foreground set to white the grid was set to gray but we turn the grid off now as far as changing the bars I personally like to change the background to a gray which I'll select right there I like to turn the foreground which is the font to black so then you can see I like that text one of the flying here the text to be black which helps stand out on that grey for my bar up I personally like to make it all black the reason I make all of my candles black and again I talked about this in my trading view video is because I think it reduces the potential for any emotional reaction to your charts to your to any of the movement on price action so once have everything basically set to black it's gonna help everything stand out really nicely so you hit okay and now you can see candles are all black background is gray these vertical lines that run through the charts those are your day separators those separate the changeover from the end of the New York session here one day into the asian session the next day and that's really important too because for those of you that know my system and know the way that i trade we box off those sessions and use them to identify which trades are actually the best for that day which ones have the potential to move for us so now that we have our charts gray now that we have our candles black everything is starting to come together so let's close the Navigator close the terminal we can see here this is what for me I like to see my charts look like I have my one click trading open and I have my black candles now I want to add some indicators now I'm gonna show you how to add indicators here then I'm gonna show you how to add indicators into the backend if you have your own custom ones that you want to add so you can quickly just come in to custom and start applying your excuse me your indicators for me I use a TDI for those you that have taken my course you know I love the TDI so here's what it looks like when you first apply it I'll then double click on it click indicator list hit edit on the TDI and I'll come in and I'll start to really customize this thing exactly the way that I like to so for me just to be brief with you guys I don't use volatility bands so what I can do is actually come to the colors and I can turn these ones here those blue things turn those to nothing and I want to see them hit okay hit close and then they're going now my TDI looks great so now what do I want to do to save this let's just say this is the only indicator I want to use maybe I want to put on like an EMA right where's a moving average here right let's say I want to put on a an 8 exponential so you can put on simple smooth let's doing with 8 exponential let's make a yellow let's make it thick hit OK there's our ATM a let's just say I wanted my charts to look like this right what I would then want to do is come up here to templates it's save right here it'll give you your template screen save it when you come back if for some reason your charts are messed up all you then have to do is click templates open up YouTube video bang if I want to change what this looks like here to the one we just made click up there at templates boom YouTube video see what I'm saying so very simple there to change charts set them save them and move forward now to add your own indicators I know a lot of you guys have questions about that well you're gonna want to do is come to your finder if you're on a PC you're gonna go to file up here and open data folder same type of thing I like to do it just in the back end here on mine Mac version so what I'll do is come to the application the data folder I'll hit show package contents then I'm gonna go to drive C and Program Files there's another thing you need to click inside Program Files to get to where we need to be it's the empty trading metatrader4 terminal now you're gonna see two things you need one is gonna be templates right here there's our YouTube video template we just saved so if you have custom templates or you want to share templates this is where you can find them you want dot TPL files in here those are the ones that are gonna show up these other ones dot HTM they will not show up here that's why they didn't then you want to come back a folder and look at the MQL for inside em ql4 you'll find indicators and here's where you can customize your indicator so what you do is download them offline if you want these indicators that I have on my screen the TDI and the ADR and all those things that a lot size calculator right here right if you want all those indicators that you guys see me use I can send them to you and all you would do is add them into your back-end here restart metatrader4 and bang you have all the indicators so if you want to add or takes them away all you need to do again it's package contents dr c program files NT trading MQL for indicators and there they are once they're in here in this indicator folder all you need to do is click out of that file out of that folder restart metatrader4 and they will be here when you go to custom they will be right there wherever you put them pretty simple right so one other indicator that I really do use a lot and that I think you know if you're trading actively you should be using is a lot size calculator and again this is something that if you want just drop a comment the video reached out to me I can definitely hook it up for you all you have to do with this is put your stop-loss in let's say we're doing a 15 pip stop-loss and let's say we want to risk 2% of our account you hit OK it'll apply it right here under your one click trading you see that right under the one click trading it says fifteen stop-loss 2% risk 0.36 that means that I would want to do a 0.36 trade 0.36 lot size on this trade if I'm only looking to risk 2% with a 15 pip stop on this pair now watch what happens if I change the currency pair it'll change that lot look it just went to 0.37 when I changed the pair to aud/usd because the exchange rate between my base currency which is in dollars in this situation is different than the base currency in some of these other currency pairs so as you change it it's gonna slightly make it it's gonna make a slight difference in the lot size that you need to trade so instead of trying to do that math in your head it's much easier to just let the indicator do it for you you can calculate it very easily if you have to change that really quick you just right-click in go to indicator list quickly go to lot size calculator edit it let's say you need to do a 25 pips top 2% risk hit ok hit close boom it changed the lot size for you right there you can see it so that covers the basics of metatrader4 like I said I don't do any chart analysis in here for me it's not clean enough I like the detail that I can get on trading view and again I'll link that video right here for you guys if you want to check that out how I do the chart analysis the trend lines the boxes the profit loss the risk reward all of that stuff is in the trading view video but for now you should see how to add indicators add templates use the functionality here of metatrader4 how to download it how to set up all of your pairs everything that you need to kind of get metatrader4 up and running that way you can execute the trades link your brokerage account here so that you can place your trades here and do your chart analysis on trading view calm if you have any questions if I didn't answer anything just drop a comment below reach out to me I'd be happy to make a part 2 or send you a video personally if you have any questions that you need answered subscribe here on youtube if you enjoyed the video make sure you smash the like button I really do appreciate it and I will see you all in the next video

Channel: ASFX

Views: 104,653

Rating: 4.8769522 out of 5

Keywords: how to set up metatrader 4, how to use mt4 on laptop, Metatrader 4 pc, how to use mt4 on pc, meta trader 4, metatrader 4 tutorial for beginners, mt4 tutorial for beginners, How to use metatrader 4 on pc, mt4 tutorial, metatrader 4 tutorial, how to use mt4, mt4 forex trading for beginners, metatrader 4 for beginners, metatrader 4, austin silver fx, how to use metatrader 4 for beginners, how to use metatrader 4, austin silver forex, meta trading 4 for beginners, Austin silver

Id: w1d5nTwqunE

Length: 19min 46sec (1186 seconds)

Published: Wed Aug 14 2019