MetaTrader 4 Flashcards
At the top of the Market Watch module, what is the time? From what timezone is the time?
Central European time zone
note: The purpose of this time is to help you deal with the Sunday bars. There really is no Sunday session for trading, this helps identify when there is not trading.
Where is the Market Watch module on the interface?
top left side
The default setting for Market Watch is just the major Forex pairs. How do you get it to show more pairs?
hover over Market Watch area
right mouse
select “show all”
What is the traditional number of decimal places shown in the Market Watch window for the pairs?
4 decimal places
Being able to go out past the traditional 4 decimal places on a pip quote is good because it means you can get lower commissions. How is this true?
If a dealer can further divide pips you can buy/sell them in smaller increments which means lower commissions.
Can you see the pip quotes in the charts also or only in the Market Watch area?
Yes, you can see the pip quotes in the charts also (top and side)
If I’m trying to look at past prices, why does the screen always snap me back to the latest price candle?
Because Auto-Scrolling is turned on.
How do you turn Auto-Scrolling off?
Hit the “AutoScroll” button at the top to toggle it on or off.
Charts by default show the “bid” price on the right hand side. Can you add the “ask” price to the chart also?
yes
How do you add the “ask” price to a chart?
Put your cursor on the chart. Right click. Select Properties. Select Common tab. Select "show ask line" on the right side of box. Click "okay" button at bottom.
What color is the “bid” price on the chart?
black
What color is the “ask” price on the chart?
red
Is it true that if you are on the higher timeframes it might be harder to see the black and red bid and ask spread on the chart?
yes
Is the red price on the chart the “ask” price and is the “ask” price the same as the “buy” price?
yes
yes
Can you have different prices for different orders?
What does that mean?
?
How do you place an order?
1) Hit the “New Order” button at the top or right mouse and select “Trading” and then “New Order.”
2) The “Order Window” opens.
3) Make sure the “Symbol” drop down has the currency pair you want to trade selected.
4) Next, select your volume (how many lots you want.
5) Select “Buy” or “Sell.
True or False: Note: 1 lot is 100,000 units of the base currency.
True
Is the “base” currency the one on the right or the left side of the pair?
left
What side of the pair is the “quote” currency on?
right
Can you trade fractional lots?
yes
True or false: When ordering, trade volume is the same thing as trade size.
true
What kind of order do you use to take profits?
limit
The Trade tab and the Account history tab are where?
terminal
Where do you find information about past trades?
terminal
Where do you find information about trades that have already opened and closed?
account tab within the terminal
The Account History tab within the terminal has two columns labeled “price” - why is that?
The first price shows the price the trade was opened at, the second price shows the price that the position was closed at.
Can you print trade history reports?
yes
From where do you print trade history reports?
terminal > account
How do you change your MetaTrader password?
tools > options > servers
What do chart templates apply to?
charts
How to you change a chart template?
charts > templates
What are workspace profiles?
settings that control the whole look and feel of the workstation
What is the difference between a chart template and a workspace profile?
Chart templates only apply to charts.
Workspace profiles apply to the whole MT4 workspace.
How do you change the workstation profile?
file > profile
How do you delete a line that you added to a chart?
click on the line and left mouse, click on the boxes at each end and then hit delete.
