A Beginner’s Guide In Using MT4 On A Mac

Published on: 06 February 2019 Last Updated on: 08 August 2019

As described by most forex traders, MetaTrader 4 — is by far the top forex trading platform you can use today. The MT4’s trading platform is an all-in-one platform for all of your forex trading needs — from market analysis to all the additional services a forex broker will offer.

Although MT4 was initially created for Windows, the application is now also available in Mac. And if you’re wondering what MT4 application to use for your Mac, you can open a meta trader 4 for your mac here.

Here’s a beginner’s guide in using the MT4:

What’s inside the platform?

There are four main panels on the MT4 platform, the navigator, market watch, terminal, and chart panels. Let’s discuss each one and some of their uses.

1. Navigator Panel:

This panel enables you to access your trading accounts. This also allows users to create a trial account to test new strategies before trading in the market. Additionally, the navigator panel offers a feature to add various indicators — trends, oscillators, and volumes — on your chart panel. You can even customize your own indicators through MQL4 or MetaQuotes Language 4, the integrated programming language for developing indicators in MT4.

2. Market Watch:

This is where you’ll find all the various instruments that are tradable, such as forex pairs, energies, precious metals, and indices; and it also displays the current bid and asking prices alongside its instrument symbol.

The market watch panel also allows you to have access to a set of options by clicking a specific instrument symbol. These options are:

Chart window – This opens a new chart of your selected instrument.
New order – This opens a trade on your selected instrument.
Depth of market – This will display the bid and ask prices of a specific instrument.
Tick chart – This will display the sales activity of the forex pair.
Specification – This will display the contract specifications of a particular instrument — swap rates, contract size, and spreads.

3. Terminal Panel:

This panel allows quick access to your trading history and account. The terminal panel displays various tabs along the bottom side of the panel, such as:

Trade – Allows you to view your pending orders and open positions.
News – This displays the relevant and important trading headlines.
Account history – This displays all your executed trades. You can also view your withdrawal, deposits, profits and loss, and credits in this tab.
Alerts – This displays the list of alerts and notifications, such as instruments reaching a specified price.
Mailbox – This is where you can view the messages sent via this platform.
Journal – This tab lets you view your account’s systems messages, such as filled or edited orders, login times, and closed positions.

4. Chart Panel:

The chart panel is probably the most recognizable panel of the trading platform, as this panel shows a particular instrument’s price movement. The charts can be viewed as lines, price bars, or candlesticks. And if you’re tracking multiple instruments, this panel can display multiple charts on a single screen. Additionally, this panel also allows you to view the charts in various timeframes, from one minute to one month charts.

MetaTrader 4 trading:

How to open a currency pair trade:

The easiest way to set up a trade in MT4 is to utilize the Order window to place an order on the market by doing these steps:

Select the chosen currency pair by clicking the Window tab of your MT4 platform.
Select New Window
Click New Order on your toolbar, or open the Order window by pressing F9.
Enter your chosen trade size in the Volume box.
Choose Market Execution in the order type
Click sell or buy

How to close a trade:

When you’re done opening the trade, of course, you’ll eventually need to close the trade. Here’s how to close:

Click the Trade tab from Terminal window.
Right-click any order you want to close on the Trade tab.
Select Close Order
Select the Close button on the Order window to close the trade.

How to add currency pairs:

If there’s a specific currency pair that you’d like to trade, but it’s not visible in the Market Watch window, then follow these steps to add currency pairs:

Press CTRL+U to open Symbols
In the Symbols window, look for the currency pair you’d like to add.
Click the symbol and click Show to add the currency pair.

Closing thoughts:

Although setting up and placing trades in MT4 is easy, learning the platform’s powerful features and intricacies to fully take advantage of the program can actually take time and effort. May you use this guide as a stepping stone to start trading in the MT4 platform.

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10 Reliable Free Currency APIs For Your Business

In today's globalized economy, businesses are constantly engaged in international transactions and dealing with multiple currencies. Accessing accurate and up-to-date currency exchange rates is crucial for seamless financial operations, informed decision-making, and ensuring the accuracy of financial records. This is where currency APIs come into play. Currency converter API (aka. exchange rate API) enable businesses to retrieve real-time exchange rates and perform currency conversions effortlessly. They provide a direct and reliable channel for accessing currency data. Hence, eliminating the need for manual data collection and ensuring the accuracy and timeliness of information. Why is reliable currency data crucial for businesses? Accurate currency information is vital for various financial activities, including e-commerce, international trade, travel and hospitality, investment analysis, accounting, and risk management. It enables businesses to calculate product prices, manage inventory costs, track revenue and expenses, and evaluate profitability across different markets. However, with numerous currency APIs available, it becomes essential to identify reliable data sources that suit your business requirements. To help you navigate the options, we have curated a list of 10 trustworthy and free currency APIs that offer reliable and accurate exchange rate data. Let's learn about them. What Is A Currency Converter API? A Currency API Convertor allows applications to retrieve real-time or historical currency exchange rates, perform currency conversions, and access other currency-related data. It acts as a bridge between different software systems, enabling seamless integration and communication. Let’s read about some of the most popular currency APIs available today. What Are the Ten Best Currency APIs Available In the Market Today? Here are the ten most reliable currency APIs. Fixer.io Source: https://fixer.io/ Fixer API is a popular currency API that provides real-time and historical exchange rates for over 170 currencies. This API comes with 6+ years of experience and rock-solid data sources, making it a reliable API. As a result, thousands of developers trust this API worldwide. It offers reliable data retrieval through a RESTful API and supports multiple integration options. Fixer API offers free and paid plans, with pricing details available on their website, catering to businesses of all sizes. Currencylayer Source: https://currencylayer.com/ Currencylayer API is a popular choice for businesses seeking reliable currency data. With access to real-time exchange rates for 168 currencies, it offers features like historical rates, time-series data, and conversion capabilities. You can try these API endpoints available on their website. While it offers a free plan with limited features, its premium plans provide more comprehensive options tailored to specific business needs. Pricing starts from $14.99 and goes up to $99.99. There is also a custom plan for users. Exchange Rates API Source: https://exchangeratesapi.io/ Exchange Rates API is a reliable currency API that provides access to real-time and historical exchange rates for over 200 currencies. Moreover, the API gives 250 free requests monthly. It is a simple, quick, and reliable API with pricing starting from $9.99. This API uses over 15 exchange rate sources to bring accurate data for the users. Open Exchange Rates Source: https://openexchangerates.org/ Open Exchange Rates is a popular currency API provider offering accurate and up-to-date exchange rates for over 200 digital currencies. With various integration options, it enables seamless data retrieval and currency conversion. Businesses like Shopify and Etsy also benefit largely from the Open Exchange Rates API. The pricing starts from $12 per month. You can also choose the unlimited plan that costs $97 per month. XE XE API is a widely trusted currency API that offers real-time exchange rates and historical data for over 210 currencies. Its easy integration allows businesses to access reliable currency data for accurate conversions and financial operations. Pricing for XE API can be found on their website, accommodating different business needs. However, this API is more expensive than other available options. Businesses like Vistaprint and Shopify also trust this API. Currency API Currency API offers a robust set of features supporting 170+ currencies globally. The API gives updated results after 60 seconds. This simple and reliable API comes with 300 free credits per month. The prices range between $9.99 and $74.99 per month. You can also get a custom plan. IBAN IBAN's Forex Reference Suite is a leading currency conversion API in 2023. It sources its data from reputable central banks as well as trusted providers, ensuring the reliability of the information. This API consistently refreshes the currency rates every 10 minutes, offering timely and accurate updates. Access to over 154 currencies enables users to obtain the latest conversions accurately reflecting dynamic market fluctuations. OANDA The OANDA currency converter API allows users to access a comprehensive collection of past data spanning over three decades, encompassing over 200 different commodities, currencies, as well as invaluable metals. This API caters to various professionals, including accountants, auditors, hedge fund managers, and also treasurers. Its primary objective is to deliver precise exchange rates that meet strict financial compliance standards. Currency Converter API Catering to developers of all proficiency levels, this API provides a currency API with three options: a free version, a prepaid service, and a premium solution. The unpaid version, as well as the prepaid service, cater to companies with lower request volumes. In contrast, the payable service is geared towards individuals seeking a robust and ready-to-use currency API for production purposes. Exchangerate.host API When you are searching for an API that is free and has a small resource footprint, it provides real-time and past exchange rates for foreign currencies and cryptocurrencies. The API guarantees an uptime of 99.99% and includes historical data spanning two decades. Conclusion Access to reliable free currency APIs is a game-changer for businesses operating in a global economy. These APIs provide accurate and up-to-date currency exchange rates. Hence, allowing businesses to streamline financial processes, make informed decisions, and ensure the accuracy of their international transactions. The ten reliable free currency APIs mentioned in this blog offer a range of features and data that cater to different business needs. By leveraging these APIs, businesses can reduce errors, save time and resources, enhance customer satisfaction, and gain a competitive edge in the global marketplace. So, take advantage of these powerful tools and unlock the potential of seamless currency data integration for your business's success. FAQs Is There a Free Currency API? Several free currency APIs, such as Fixer, Open Exchange Rates, ExchangeRate-API, and CurrencyLayer, are available. What Is the Free Web Service for Currency Conversion? A popular free web service for currency conversion is XE.com, offering accurate and up-to-date exchange rates. What Is the API for Currency Conversion Rates? The API for currency conversion rates provides real-time or historical exchange rates for seamless currency conversions. Read Also: Why Entrepreneurs Should Pay Attention To Cryptocurrencies In 2021 Crypto Staking: Locking Up Crypto Holdings To Earn Interest Can I Convert My 401k To A Gold IRA?

What should you know about an MBA in global finance?

Are you good at financial figures and strategies? Are you on the lookout for jobs that has the right amount of challenges to be exciting? Do you want to travel across the world and have a global career? If yes, pursuing an MBA in global finance can be the right choice for you. If you are curious about an MBA program specializing in global finance, this blog can be an informative read. Apart from learning about what the course involves, you can also know the benefits of pursuing this course and its career prospects in the future. What does a global finance MBA entail? The global finance MBA involves learning about managing the finances of multi-national corporations following local and international regulations, business laws, and other guidelines. Though the curriculums may differ for different universities offering this MBA specialization, most of them consist of subjects like managerial marketing, international financial regulations, accounting principles, international strategic management, and international relations. Why should you pursue an MBA in global finance? A finance-focused MBA program can be a versatile option that can open up a plethora of career options in the finance industry. A global finance MBA adds a global perspective to the mix and offers you lucrative opportunities in foreign countries as well. Here are some benefits of pursuing an MBA in global finance. Specially customized curriculum: The course structure of a global finance MBA is specially customized to focus on the financial aspects of global business settings. This can help you in developing skills that are required for a deep understanding of international business Wide networking opportunities: Since this course has a global perspective, you might find your classmates from diverse backgrounds. Also, You can get a chance to build an extensive network across the world and become a truly global management professional. Flexibility to switch jobs in the future: Since global finance operations have wide applications across all the major industries, this course provides a broad perspective on wide range subjects. It can also give the flexibility of switching career domains in the future if you wish. Bright future scope: This course teaches you to analyze financial situations from a global perspective. With this course, you can widen your career prospects and build an impressive skill set. What is the future scope of an MBA in global finance? An MBA with global finance can help you explore key management concepts and be up-to-date with the latest financial trends across the world. According to payscale.com, international finance graduates earn an average annual salary of $ 100,990. With this qualification, you can be eligible for financial management positions across various industries. Here are some exciting career options that can interest you. Global management consultants International finance managers International trade policy advisors Business development managers Global management consultants Global relations manager Investment banking consultants As a global finance MBA graduate, you can comprehend the complexities of the dynamic nature of the international business environment and apply your knowledge to handle different financial issues in your organization. Enroll in a global finance course today to become a part of the international business circle. Read Also: Doing business in the UAE: pros and cons Tips for Breaking Into Finance and Banking Building Your Business Profile Is Easier Than You Think

Bankruptcy Means Test: Why It Matters?

Bankruptcy means a test is done to determine who can file for chapter 7 bankruptcy. The means test considers everything while determining your current position to pay your debt to the creditors. It goes through your income, expenditure, assets, and family members. The means test was designed to reduce the number of debtors willing to get their debts erased. It has been seen that most of the debtors who have applied for the means test have passed. Those people who cannot qualify for chapter 7 or want to keep their assets to themselves can apply for chapter 13 bankruptcy. How Chapter 7 Bankruptcy Works? Applying for chapter 7 can be an expensive and lengthy process. The means test helps the government clarify who is eligible for chapter 7. The Means Test has two parts. Both parts are designed to see through your income and assets and determine the current financial standing. You have to apply for the Means Test only for the primary consumer debts like medical debt or credit card debts. You do not have to apply for this test if your debt is related to business loans. First Part The part of the Means Test determines whether your house income is below the state's median income. The means test starts gathering information about your income, expenses, and assets. These data are mostly collected from the past six months. However, there have been cases where this six months time duration can be changed. After all the reports, if it is being found out that your income is below the median income, you will qualify the Means Test. In a report made by the US government in 2013, more than 12% of the debtors were able to qualify the Means test in the first stage. Second Part The second part consists of going through all your expenses. These expenses consist of everything you pay for, starting from paying your utility bills, grocery bills to the travel expenses and education expenses. Out of all the expenses, only the allowable expenses are considered to be used by you. Other expenses that are not necessary are used to pay off your debts. While you document the list of expenses, be thorough about the things you add to the list. Remember, those expenses will decide whether your petition will be accepted or not. Allowable expenses are based on the local and national standards used by the IRS. The national list covers items like food and clothing, and local items cover housing expenses and car payments. You need to work carefully to ensure that all your expenses are thoroughly documented. What's Next After You Qualify for the Means Test? Passing the means test means you have the green light to apply a petition for chapter 7 bankruptcy. Once your petition is accepted, most of the unsecured debts will be forgiven. That does not mean that this will be the best route for you. There are also chapter 13 bankruptcy that might give more advantage over chapter 7 in many cases. Chapter 13 will help you put a hold on all your debts, mortgages, overdue loans, and bank taxes. What Will Happen After You Fail The Test? Once you fail the Means Test, there are no more appeals for a certain period. You can apply for the chapter, or you can wait for the cooldown time to apply again for the means test. We have already mentioned that the Means Test goes through all your financial income and expenditure in the last six months. That means, after a failed attempt at the Means Test, you can apply again after six months. However, if you do not intend to apply for the Means Test again in the future, you will be restricted to chapter 13 and will have to pay off your debt based on the chapter 13 provision. The Bottom Line Is it really hard to apply for a loan after bankruptcy? Well, you can say more than hard; it is more complex. You first need to qualify the Means Test, and then only you can apply for chapter 7. It is better to have an attorney while you are managing legal documentation. Read Also: 8 Simple Tips To Pay Off Your Loans Faster 5 Must-Have Long-Term Goals for A Secure Future What are the types of debt that can be discharged in bankruptcy? Using Short-Term Loans to Help Rebuild Your Credit Score

A Beginner’s Guide In Using MT4 On A Mac

Here’s a beginner’s guide in using the MT4:

What’s inside the platform?

1. Navigator Panel:

2. Market Watch:

3. Terminal Panel:

4. Chart Panel:

MetaTrader 4 trading:

How to open a currency pair trade:

How to close a trade:

How to add currency pairs:

Closing thoughts:

Forex Trading Wisdom: Talk Yourself Out of Bad Trades

The Importance Of Saving: The Bedrock of a Bright Financial Future

Content Rally

Content Rally wrapped around an online publication where you can publish your own intellectuals. It is a publishing platform designed to make great stories by content creators. This is your era, your place to be online. So come forward share your views, thoughts and ideas via Content Rally.

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Related

10 Reliable Free Currency APIs For Your Business

What should you know about an MBA in global finance?

Bankruptcy Means Test: Why It Matters?

A Beginner’s Guide In Using MT4 On A Mac

Here’s a beginner’s guide in using the MT4:

What’s inside the platform?

1. Navigator Panel:

2. Market Watch:

3. Terminal Panel:

4. Chart Panel:

MetaTrader 4 trading:

How to open a currency pair trade:

How to close a trade:

How to add currency pairs:

Closing thoughts:

Share this Article

Forex Trading Wisdom: Talk Yourself Out of Bad Trades

The Importance Of Saving: The Bedrock of a Bright Financial Future

Content Rally wrapped around an online publication where you can publish your own intellectuals. It is a publishing platform designed to make great stories by content creators. This is your era, your place to be online. So come forward share your views, thoughts and ideas via Content Rally.

Leave a Reply

Popular

Follow Us

Recent

Related