MT9 is a very versatile gateway to analyzing assets, with a focus on the Forex market. Once you have learned the basic functionality of it, you can enhance it by upgrading it through third-party add-ons. Feel free to browse the Market , located in the Terminal , where thousands of free upgrades are available together with paid ones, to enhance the functionality of MT9 and turn it into a powerful asset management tool.
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Do not be afraid to experiment. The MT9 demo account exists so that you learn how to use the trading platform properly. You can always hover your mouse over the icons in the Toolbar, which will display their functionality together with the hotkey, if one is available. Hotkeys will help speed up navigation and modification of charts, and the more assets you analyze, the more you will learn to appreciate them.
ForexProfitWay: Best Forex Mt4 & Mt5 Indicators
Each indicator consists of settings, visible in the dialogue box after you select the one to add. Clicking OK adds the indicator to your chart.
The MT9 trading platform is a simple but very effective trading terminal, as evident in its popularity despite its age. Do not be afraid to experiment in your demo account. You can always refer back to this MetaTrader 9 demo tutorial for assistance. You should understand how the trading platform functions before considering the MetaTrader 9 open real account option. Progress at your own pace, do not rush the learning process and proceed with a live trading account after you feel comfortable with using the trading platform.
After you place a market order, you will receive a confirmation, and the position is then displayed within the Terminal (red rectangle).
The quickest way to use indicators is by selecting Insert from the Menu. Alternatively, you can do so by using the Navigator, as marked by the red rectangle.
Now we will take a look at how to analyze assets with indicators and how to place orders. You have a range of technical indicators you can use. Some are added inside the chart, while others are placed below it.
You can navigate to the Account History tab in the Terminal (red rectangle) and view details about your closed positions. As you can see, our open trade was closed. Manually exited positions are not colored. Trades closed by stop-loss and take profit are highlighted in red and green, respectively. It does not indicate the profitability of the closed position, which you can view under the Profit column.
Since you will work with just one account for now, you can go ahead and close the Navigator. You can always pull it back up by clicking the Navigator icon in the Toolbar. When you hover your mouse over them, their name appears. After you close it, you will notice the Market Watch will fill out space. The restricted asset list is expandable by right-clicking anywhere inside the market watch and select Show All . Finally, click on Trade in the Terminal to see your account balance. It is also where all our open trades will be displayed.
It is a &ldquo paper account&rdquo , ideal for new traders to learn how to use the trading platform, customize charts, place orders, and manage portfolios. It is also used to back-test strategies, test new Expert Advisors in the development stage, or to gauge the performance of existing ones.