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Before placling a trade
Once comfortable with navigating through the Metatrader 4 for Mac platform, placing trades will be much easier. This section will guide you through placing and closing trades. Mastering and understanding how trades are ordered and executed from this section will help make the move to the one-click Mini Terminal much simpler.
BEFORE PLACING A TRADE
Before a trade is placed, a trader should monitor the price and determine a good point to enter the market, as well as, your most upper and lower limits. These limits are later explained in the Pending Execution Orders section.
You can monitor the real-time bid and ask prices of the available instruments in the Market Watch quote board or in the Popup Prices window (by right clicking on the Market Watch window and scrolling down to ‘Popup Prices’)
Trader Terminal can continue to be used, even when MetaTrader is minimised. To do so, go to the Open and Pending Orders section, click Settings and check Undock Terminal. To redock the window, click Settings and uncheck Undock Terminal.
In addition, to looking at the prices you may want to look at the size, margin, swap rates and other details about the instrument that you are interested in trading. Such contract information can be found in the Market Watch quote board. Right click on the desired instrument and select specification – This opens the Contract Specification window for the instrument you selected.
Once trend and direction have been determined, traders then need to determine the type of order they wish to make. The two types are:
Market Execution Order – Places a buy or sell order on an instrument at the current market price
Pending Execution Order – Enters your order when the market reaches a specific price