MetaTrader Australia » metatrader tips

MetaTrader Tips – Stop Orders

admin — Mon, 17 May 2010 02:09:51 +0000

How do stop orders work in MetaTrader?

Buy stop, Sell stop and Stop loss orders do NOT guarantee an order will be filled at a certain price. Your specified price is known as the stop price. Once the stop price is met or exceeded, the order becomes a market order. Market orders instruct the broker to fill the order at the next available market price.

The execution price of a buy stop, sell stop or stop loss can vary from the stop price. This occurs most commonly during significant market moves or gaps. Often these price gaps are the result of economic news releases such as the US non-farm payroll report, and may also occur over a weekend when trading is closed. Keep in mind that in a volatile market substantial losses may occur and orders may not be filled as placed.

Source: IBFX

MetaTrader Troubleshooting by Go Markets

admin — Sun, 28 Mar 2010 06:09:21 +0000

Sign up for a Free GoMarkets MetaTrader Demo account Today
Open a Live GoMarkets MetaTrader account

Common Problems & Troubleshooting

Q: My platform shows ‘Trade Context is busy’.

A: Close and reload the platform. The error should go away.

Q: I can’t place a stop loss or take profit order on my trade.

A: On market execution you cannot place your pending orders before execution of the entry order. After placing the trade you can add your stop/limit orders through the Terminal.

Q: My Expert Advisor is not taking any trades.

A: Check the Experts tab in the Terminal. If the EA is trying to place trades without success it will show an error number. Click here to download a PDF of all MT4 error codes.

Q: My Demo will not login.

A: Demo accounts expire after 30 days as standard. To get a new demo account, in the MT4 platform go to File>Open an account and you can generate a new login and password. You do not need to download the platform again.

Sign up for a Free GoMarkets MetaTrader Demo account Today
Open a Live GoMarkets MetaTrader account

Q: My account shows as invalid.

A: The message invalid account shows when the login or password information is incorrect. Please check your login, password and the server address.

Q: I cannot find the swap rates.

A: Go to the market watch area, right click and choose symbols. Click on the properties for a trading symbol and it will give you all details including the swap rates.

Q: Why can’t I see all the currency pairs?

A: To view all currency pairs, right click on the market watch and then choose ‘Show All’.

Q: I want to change my chart time.

A: The trading platform time cannot be changed. There are local time indicators available to download from the MetaQuotes community (mql4.com).

Sign up for a Free GoMarkets MetaTrader Demo account Today
Open a Live GoMarkets MetaTrader account

MetaTrader Tips – Deleted An Object By Accident

admin — Sun, 28 Mar 2010 05:59:55 +0000

If you have deleted an object by accident, press Ctrl+Z to undo.

Source: http://articles.mql4.com/189

MetaTrader Tips – Setting Chart Scales

admin — Sun, 28 Mar 2010 05:53:45 +0000

You are able to manually set scale charts in MetaTrader by pressing F8 -> click the Common tab -> then select Scale fix.

MetaTrader Tips – Understanding MetaTrader Charts

admin — Mon, 08 Feb 2010 06:47:55 +0000

The current price shown on an MT4 chart is the bid price. When looking at a price bar or candle, you must add the spread to the high bid price to know what the high ask price would have been, or add the spread to the low bid price to know what the low ask would have been.

If you are in a sell (in at the Bid out at the Ask), you would not see the candle reach your stop loss if you are taken out of the trade. For example with a stop loss of 1.4580 on the EURUSD once the chart reached 1.4578 (2 pip spread) you would be taken out of the trade at 1.4580. Your take profit would not trigger until the ask price hits. For example with a take profit of 1.4540 on the EURUSD once the chart reached 1.4538 (2 pip spread) you would be taken out of the trade at 1.4540. These examples are based on our spread shown under normal market conditions. Our spreads are not fixed and will fluctuate with news or other high / low volume conditions.

If you are in a buy (in at the Ask and out at the Bid), you will see the bid price on the chart.

MetaTrader Tips – Trade Context is Busy Message

admin — Mon, 08 Feb 2010 06:45:45 +0000

You receive the “Trade context is busy” message when you try to process two or more orders at the same time. If you have placed a trade and do not wait until it processes completely and then try to place the same trade or a different trade, the commands go into a loop and you get “Trade context is busy”. The only solution is to close down the platform and restart it.

MetaTrader Tips – Saving Chart Templates

admin — Tue, 08 Dec 2009 01:57:08 +0000

Templates can also be created for charts opened from the Strategy Tester and for charts opened independently.

To create a default template for charts opened from the Strategy Tester, you will need to save a template as “tester.tpl”.

For offline charts, the default template must be “offline.tpl”.

If the “offline.tpl” template is not found when an offline chart is opened, the “default.tpl” template is used. If the “tester.tpl” is not found, the embedded settings are used.

Source: http://articles.mql4.com/189

MetaTrader Tips – Use F12 with Charts

admin — Thu, 26 Nov 2009 03:45:41 +0000

Use F12 to move through a chart bar by bar.

This function can be very useful when you develop and test your own trading strategies. Simply open a chart at the very beginning of the history (press Home) and move through it bar by bar.

Shift+F12 will move through the chart backwards.

Source: http://articles.mql4.com/189

MetaTrader Tips – Chart Templates

admin — Thu, 26 Nov 2009 03:41:41 +0000

By using Chart Templates the chart background, bars colors, indicators and objects can be saved and used on other charts.

To do this, setup any chart as you wish: set colors, superpose objects, attach indicators, etc. Then select the “Charts -> Template -> Save Template…” menu and save the obtained template as default.tpl

MetaTrader Tips – Placing Pending Orders Using Charts

admin — Tue, 24 Nov 2009 10:28:27 +0000

When placing orders from charts there is no need to remember which type of pending orders to use.

To place a pending order via a chart just right click with mouse on the desired point in the chart where you would like to place the order and select the “Trading” command in the menu. You will see the types of available pending orders that can be placed.

After you have selected one of the order types, the platform will show the order creation/modification window with partly filled fields. You will then need to specify Stop Loss and/or Take Profit values.

There can be four types of pending orders:

Buy Limit — the current price level is above the value of the order to be placed
Buy Stop — the current price level is below the value of the order to be placed
Sell Limit — the current price level is below the value of the order to be placed
Sell Stop — the current price level is above the value of the order to be placed

Source: http://articles.mql4.com/189