MetaTrader 4

Meta Trader 4 is a foreign exchange trading platform that needs to be downloaded to a PC. Installation of Meta Trader 4 is easy and fully automated, and requires no technical knowledge at all. It is a package that packs quite a punch and is intended for the professional trader.

MT4 allows for Expert Advisors, also known as an 'EA'. These are software programs that can be customized to trade the markets automatically when certain market conditions emerge. Some people pay professionals to manage their Expert Advisors that can be reprogrammed to suit different market conditions. For those who are proficient with the use of the MT4 trader there is no lack of advisors and tools which include indicators and oscillators that can be customized to help predict market movements fairly accurately.
 
The only problem with an MT4 forex trader is that it will not execute stop-loss orders if it gets disconnected from the server. This is not so with web-based platforms as the stop-loss order is saved on the server itself. MT4 is a great trading platform if one is constantly sitting in front of it and monitoring trades by the minute. While MT5 has been launched it is not as successful as MT4.

Meta Trader 4 comes loaded with features that allows a trader to place trades on any financial market from anywhere through a PC connected to the internet. It does take some getting used to in order to be absolutely proficient with MT 4.

While it is a complete online trading package that can be used to research historical and real time charts in any form it offers a host of indicators and oscillators for the experienced trader to take the most advantage of. It is possible to right click on the chart of the currency the trader is intending to trade and place or close an order. It is also possible to use the short-cut keys to do the same.

Trading with the MT4 is easy once the trader has a bit of practice with the platform. There is a smart phone version of the platform called MT4 Mobile that can be downloaded and used to trade through a mobile phone. There is also a version that operates on a smart phone running the Windows Mobile Operating System. However, this is not a great idea for professional traders who need a large screen to research charts and stay online to open and close out trades. It’s good for traders on the move who know the market movements and can set up their MT4 Mobile platform to alert them when certain market conditions develop. They can then place or close out their positions.

The MT4 trading platform is also compatible with automatic trading and can be used with third party Expert Advisors as well. MT4 has a built-in provision that allows knowledgeable traders to develop their own expert advisors, custom indicators and scripts. These are needed for daily trading by professional traders. However, since the MT4 runs locally on the trader's PC it is important to ensure a stable internet connection.  The MT4 will automatically reconnect if your internet connection is restored but the lost connection may result in missing trades and lost opportunities to get in or out of the market. Note: If other programs using JAVA are running on the same system that MT4 is operating on, the system may cause MT4 to hang or slow down a great deal. So, if you are trading through MT4 ensure that it is the only application running on your computer.