How To Take & Manage Trades - Full MT4 Tutorial

Summary

In this tutorial, Jason teaches viewers how to copy trades into the MetaTrader 4 (MT4) app, connect to a Vantage broker, and select trades from various sources like Telegram groups and Discord. He guides through the process of logging in, adding currency pairs, and executing trades with proper risk management. The video also covers adjusting stop losses for risk-free trades, taking partial profits, and adding non-forex assets like indices, commodities, and cryptocurrencies to the MT4 platform. Jason emphasizes the importance of reading trading tips for a successful trading journey.

Takeaways

• 📱 The tutorial is for users of the MetaTrader 4 (MT4) app, focusing on how to copy and paste trades, connect to a Vantage broker, and find trade ideas.
• 🔗 To connect to a broker, select 'Settings', then 'New Account', and log in using details provided by Vantage Broker via email.
• 🔍 Use the correct server as indicated in the email from Vantage Broker, and ensure to copy and paste the login details to avoid mistakes.
• 💻 For iPhone users, the process may differ slightly from Samsung users, who should perform the equivalent steps on their devices.
• 💰 After logging in, check the 'Settings' to confirm the connection, and use the 'Trade' section to manage currency pairs for trading.
• 📈 Add currency pairs to the 'Quotes' section by selecting 'Forex' and choosing preferred pairs, then save the selection.
• 📑 Trade ideas can be sourced from three locations: V trades, the VTG Discord group, and the Manara Telegram group.
• 🛑 Understand the difference between market execution (immediate trade) and limit orders (pending orders waiting for a price level).
• 💹 Use a lot size calculator from cashbackforex.com to determine the appropriate trade size based on a 1% risk of the account balance.
• 🚫 To go risk-free, move the stop loss to the entry price once the trade is profitable, ensuring no loss of initial investment.
• 📉 For taking partial profits, edit the lot size to close out a portion of the trade, securing some profit while leaving the rest open.
• 📚 Before trading, read the V trades tips and guidelines for proper risk management and trade expectations.

Q & A

What is the main topic of the tutorial video?

The main topic of the tutorial video is how to copy and paste trades into the MetaTrader 4 (MT4) app, connect to a Vantage broker, and find trades to copy.

Which platform does the tutorial initially demonstrate the process on?

The tutorial initially demonstrates the process on an Apple iPhone, noting that the steps may vary slightly for Samsung users.

How does one begin the process of connecting to a broker in MT4 on an iPhone?

To connect to a broker in MT4 on an iPhone, open the MT4 app, go to settings, select 'New Account', and then 'Log in to an existing account'.

What should a user do if they cannot find the correct server in MT4?

If a user cannot find the correct server, they should copy the server name provided by their broker, such as 'Advantage International Demo 2', and paste it into the search option in MT4.

Why is it important to paste the login details instead of typing them manually?

Pasting the login details is important to avoid making any mistakes and to ensure the accuracy of the information entered into the MT4 app.

What should users do if they want to add currency pairs to their MT4 app?

Users should go to the 'Quotes' section in MT4, press the plus sign, find the desired currency pairs under 'Forex', and then press 'Done' to add them.

How does one determine the appropriate lot size for a trade according to the tutorial?

To determine the appropriate lot size, users should use the lot size calculator on cashbackforex.com, inputting the currency pair, entry price, stop loss, and their account balance, and then calculate based on risking 1% of the account.

What does 'going risk-free' mean in the context of trading?

'Going risk-free' means moving the stop loss of a trade to the entry price, ensuring that if the trade reverses, the trader will not lose any money and the trade is in a break-even position.

How can a trader take partial profits from a trade?

A trader can take partial profits by editing the lot size of an open trade to a smaller amount, closing out a portion of the trade and leaving the rest to potentially reach further take profit levels.

What should traders do if they receive a trade idea involving a limit order?

For a limit order trade idea, traders should change the trade type from 'Market Execution' to 'Buy Limit' or 'Sell Limit' in MT4, input the specified price, stop loss, and take profit, and then place the order.

Why is it recommended to read the trading tips before taking any trades?

Reading the trading tips is recommended to ensure traders understand the process, manage their risks properly, and have the right expectations for their trades.

Outlines

00:00

📲 Setting Up MT4 for Trade Copying

This paragraph outlines the initial setup process for connecting the MetaTrader 4 (MT4) app to a Vantage broker. The speaker, Jason, provides step-by-step instructions for users with Apple iPhones, noting that the process may vary for Samsung users. The focus is on navigating the MT4 app settings, creating a new account, and logging in using credentials from an email provided by Vantage. The paragraph also covers selecting the correct server, entering the login ID and password accurately, and saving the password for convenience. Additionally, it explains how to add currency pairs for trading and delete them if necessary.

05:00

📈 Understanding Trade Execution and Risk Management

The second paragraph delves into executing trades from various sources like Telegram groups and emphasizes the importance of understanding trade details such as entry points, stop losses, and take profits. It introduces the concept of market execution versus pending orders and demonstrates how to input these details into the MT4 app. The speaker also discusses the critical aspect of risk management, advising users to risk no more than 1% of their account balance and using a lot size calculator from cashbackforex.com to determine the appropriate trade size based on the entry price, stop loss, and account balance.

10:01

💰 Securing Trades and Taking Partial Profits

This section explains how to secure a trade to ensure no loss by moving the stop loss to the entry price once the trade is profitable. It also covers the process of taking partial profits, which involves closing a portion of the trade to secure some profit while leaving the rest open to potentially gain more. The speaker provides a practical example of how to modify an existing trade in MT4 to achieve a risk-free position and how to adjust the lot size for taking partial profits, ensuring that the risk remains within acceptable limits.

15:02

🌐 Accessing Various Trade Ideas and Asset Classes

The fourth paragraph describes how to access various trade ideas from sources like Discord and Telegram, including different asset classes such as indices, commodities, and cryptocurrencies. It guides users on how to add these assets to the MT4 quotes section for trading. The speaker also advises reading trading tips available in the V trades Discord group for proper risk management and ensuring account protection. Additionally, it mentions the need to check the contract size for indices trades in MT4 to accurately calculate risk using the cashbackforex.com lot size calculator.

20:03

🛡️ Final Tips on Risk Management and Limit Orders

In the concluding paragraph, the speaker reiterates the importance of proper risk management and following the trading tips provided. It also addresses how to handle limit orders, explaining the difference between market execution and limit orders, and how to set up a pending order in MT4. The paragraph wraps up with an invitation for any questions and a reminder to trust the process and take time in trading for long-term success.

Keywords

💡MetaTrader 4 (MT4)

MetaTrader 4 is a widely used online trading platform that allows users to trade in the forex, CFD, and futures markets. In the video's context, it is the primary tool for executing trades, as the tutorial explains how to connect to a broker and input trade details within the MT4 app. The script mentions various steps like selecting a server, entering login credentials, and navigating through the platform to manage trades.

💡Vantage Broker

A Vantage Broker refers to a financial services provider that offers trading in various markets, including forex, commodities, and indices. The script discusses how to connect a MT4 app to a Vantage broker's demo or live account, using the credentials provided by the broker for trading purposes.

💡Trade Copier

A trade copier is a tool or service that allows traders to automatically copy trades from one account or trading platform to another. The video is essentially a tutorial on how to set up and use a trade copier mechanism within the MT4 app to replicate trades from various sources.

💡Risk Management

Risk management in trading involves strategies to minimize and control potential losses. The video emphasizes the importance of risking no more than 1% of the account balance on any single trade, using a lot size calculator to determine the appropriate position size based on the account equity and desired risk level.

💡Lot Size

The lot size represents the number of units being traded in a single transaction. The script explains how to calculate the correct lot size for a trade using the cashbackforex.com lot size calculator, ensuring that the trade aligns with the risk management strategy of risking only a small percentage of the account balance.

💡Stop Loss

A stop loss is an order placed with a broker to sell a security when it reaches a certain price, to limit an investor's loss on a position. In the script, setting a stop loss is part of entering a trade in MT4, and it is used to protect against excessive losses by automatically closing the trade if the market moves unfavorably.

💡Take Profit

Take profit is an order that is set to close a trade automatically when the market reaches a certain favorable price, locking in profits. The video script provides examples of setting take profit levels for trades and discusses modifying these levels to secure profits or go risk-free.

💡Market Execution

Market execution refers to the immediate execution of an order at the best current market price. The script mentions that trades without the word 'limit' are to be entered as market execution orders in MT4, meaning they are filled instantly at the current market price.

💡Limit Order

A limit order is an order to buy or sell a security at a specific price or better. The video explains how to set up a limit order in MT4, which is a pending order that becomes active only when the security reaches the specified price, different from a market order that executes immediately.

💡Currency Pairs

Currency pairs are the two currencies involved in a forex transaction, typically represented by a three-letter code. The script provides instructions on how to add currency pairs to the MT4 app for trading, such as USD/JPY, which is an example used to demonstrate entering a trade.

💡Partial Profits

Partial profits refer to closing a portion of a trade to secure some gains while leaving the rest of the position open to potentially achieve further profits. The video script describes how to take partial profits by editing the lot size of an open trade in MT4, which allows traders to lock in some profit while maintaining exposure to the market.

💡Discord and Telegram Groups

Discord and Telegram are communication platforms where traders can receive trade signals or ideas. In the script, these groups are mentioned as sources for trade ideas that viewers can follow, with specific instructions on how to navigate these platforms to access the trade signals.

💡Indices, Commodities, and Cryptocurrencies

Indices, commodities, and cryptocurrencies are different types of financial instruments that can be traded on various platforms, including MT4. The script explains how to add these asset classes to the MT4 app for trading, providing examples like the NAS 100 index, gold (XAU/USD), and Bitcoin (BTC/USD).

💡Contract Size

Contract size refers to the quantity of the underlying asset in a financial contract. The video mentions the importance of knowing the contract size when trading indices on MT4, as it affects the calculation of position size and risk, particularly when using the cashbackforex.com lot size calculator.

Highlights

Tutorial on copying and pasting trades into MetaTrader 4 (MT4) app.

Connecting MT4 to a Vantage broker for trading.

Instructions for different phone types, specifically Apple iPhone and Samsung.

Navigating MT4 settings to create a new account and log in with provided broker details.

Finding the correct server for the Vantage broker in MT4.

Importance of pasting login credentials to avoid errors.

How to add and delete currency pairs for trading in MT4.

Accessing trade ideas from V trades, VTG Discord group, and Manara Telegram group.

Understanding trade execution types: market execution vs. limit orders.

Entering trade details such as entry point, stop loss, and take profit into MT4.

Risk management by calculating the appropriate lot size using cashbackforex.com.

Demonstration of how to go risk-free by moving the stop loss to the entry price.

Taking partial profits by editing the lot size and closing trades partially.

Adding different asset classes like indices, commodities, and cryptocurrencies to MT4.

Reading V trades tips for proper trade execution and account protection.

Using the contract size for accurate risk calculation in indices trading.

Converting market execution to limit orders for pending trades.

Final advice on proper risk management and trusting the trading process.

Transcripts

hey guys hope you're doing well this is

Jason speaking here I'm going to be

doing a full tutorial video on how to

copy and paste trades into your meth

Trader for app how to connect to your

Vantage broker and also where to go to

find the trades that you are going to be

copying into your mt4 app okay so first

and foremost let's begin by connecting

to the correct broker so I'm using

uh an Apple iPhone uh so this will be

slightly different if you're using a

Samsung so you want to uh basically do

the Samsung equivalent uh if you're

using um that phone uh to connect to

your broker but essentially for those

using the Apple uh iPhone what you want

to do is once you've opened up your app

your empty4 app you want to select

settings at the bottom right hand side

of the page you want to select new

account at the very very top and then

press log log to an existing account now

at this stage what you want to do is go

to your

email and use the login details that

have been provided to you from your

Vantage broker so Vantage will have sent

you an email I've created a brand new

demo account um just for the purpose of

demonstrating all of this and what you

want to do is use these login details

that have been provided to you to enter

into metatrader for okay so if you look

at the title or the subject matter from

Advantage it will say new mt4 demo

account or new mt4 Live account and

basically find that email and use the

login detail so that's exactly what

we're going to do so the first thing is

uh uh we're going to do is find the

correct server so mt4 server says here

Advantage International demo 2 so what

you can do is uh simply

copy right copy Advantage International

Den 2 and come back to uh metat Trader 4

and paste it this uh in the search

option okay and this will bring up the

correct server so you want to select the

server and now you have the chance to be

able to enter your login ID and your

password so you basically want to flick

between the screens and we've got the

mt4 login so I'm going to copy that come

back and paste this and it's important

that you paste it as opposed to type it

so you make sure you don't make any

mistakes and then go back and get the uh

correct

password so I'm just going to go ahead

and copy

uh the

password that's password copied come

back to met Trader 4 press paste and um

paste that into the password section now

it's important you keep the password

saved so that you don't have to

continually do this on a regular basis

and press done and we should then have

the ability to log in all right

fantastic so now you should be logged

into your account uh if you click on

settings again you'll see uh Vantage

International demo and obviously

whatever number uh for your server your

account number Etc that means you're

logged in if you go to trade in the

middle you will see uh your

balance and if you click on quotes this

will be the section where you can then

add the currency pairs that you want to

be able to trade so this is an important

task here so top right hand side of your

screen you press the plus right hand

side and don't worry if it doesn't look

exactly like uh this but essentially you

want to come to this section and find

your currency pairs so yours might

simply just say Forex right so basically

what I'll do is I'll go to Forex and

then add the pairs uh that you're going

to be trading so some of the major pairs

that we be trading um you can add all of

them if you wanted to but you know just

uh to save time I'll add a few of uh my

uh favorite

pairs um that you can

use

and thereafter once you've added the

pairs that you like Etc you can then go

to done at the top right hand side of

your screen and then you should have a

number of uh different uh pairs okay let

me just add one more pair uh for good

measure there we go right okay so now we

are back on the quote section we can see

the different currency pairs that we we

are able to trade now if you ever want

to delete a pair all you do is top left

hand side press that uh and then you

select this option the circle on the

left hand side and press delete top

right hand side and that will delete a

pair okay

done okay fantastic so what we want to

do now is go ahead and find a currency

pair to trade so we're going to be

primarily taking trades from Three

locations V trades in our uh vtg Discord

group and also the to Manara telegram

group so let's go ahead and get a trade

from the Manara uh telegram group first

and foremost so if we go to Telegram and

let's select Forex and Manara training

the other one is going to be Manara

trade ideas in session so we do Forex

seminar training and let's go ahead and

have a look at the most recent trade

that was sent so a trade idea will look

something like this okay it will

literally say buy USD JPY or sell USD

JPY or another pair alternatively it

will give what we call a pending order

so it may say something like buy limit

or sell limit okay anytime you do not

see the words limit it means we are

going to go into the trade immediately

in other words it's what we call a mark

Market execution or an instant execution

order I'll show you this in just a

moment so says here buy USD

JPY it has here the entry 148.5 it has

the SL which means stop loss for 8.3 and

it has tp1 and tp2 TP stands for take

profit okay so you're going to put these

coordinates into your smartphone okay

into your metatrader for app and uh uh

just for uh a demonstration purposes and

if you're a beginner we recommend simply

going for tp1 just so you can get the

hang of taking trades um at the

beginning stages of your journey so

let's go ahead and pretend that we're

going to put these details in this is an

old trade so we're not actually going to

execute um this trade as a valid trade

but we're just going to put this in as

if it were a real trade okay so you can

see here buy USD JPY entry

148.5 we go back to m before what do we

see here at the bottom USD JPY so what

you want to do press on USD JPY and

press

trade okay so now this is where you're

going to put uh your coordinates all

right now you can see here it says stop

loss so what you will then do is go

ahead and copy those details so it says

stoploss

14830 so I'll type here

14830 take profit if we're going for

take profit one is

149. Z so again

149. okay now we have our uh order

details in our metatrader for app there

is a very very important thing that we

now must do before we press buy and that

is Select our appropriate risk

management okay our appropriate lot size

that is in the Middle top middle area of

the screen so you can see the middle of

the screen it says no. not1 okay now

what we're going to do is ensure that we

are risking no more than 1% of our

account some people risk a little bit

more some people risk a little bit less

but in general across the board it is

advisable to only risk 1% of your

account and as you're risking 1% of your

account you'll be given the specific lot

size to use in this section over here

okay so let's go ahead and do that

now all right so what we're going to do

is minimize met Trader for and we're

going to go

to uh cashback forks.com cashback

for.com so what I've done is I've saved

this um to my home screen you will

definitely want to bookmark this website

or save it to your home screen whatever

you got to do to make sure you have

quick easy access to this cashback

forex.com and we're using their lotsize

calculator as you can see it says there

at the top lot size calculator this is

how we calculate the correct risk that

we want to use okay

so um we scroll down and we need to find

the instrument or the asset class or the

currency pair that we are going to trade

so what we want to do is Select here and

type USD

JPY okay so go ahead and type that

in all right go ahead and type that in

and then what we're going to do is we

put in the entry price over here now of

course the entry price is going to be

moving constantly especially if it is a

market execution trade okay so again if

we go back to telegram we can see that

this is a market execution trade why

because it does not say the words limits

on there okay so what we can do is

literally type the entry price there and

what we're aiming to do is get uh a

trade that is as close as possible to

this price so it ISS a 148.5 so we'll

come here and do

148.5 we come and put our stoploss price

which was

14830 so

14830 okay and that is it now our

account balance will change to

1,000 okay and we said we're going to

risk 1% of our

account and then we press

calculate okay we press calculate now as

we press calculate it says money at risk

at the bottom and it says here $10 right

or £10 whatever right right as we know

1% of a th000 is 10 so that means if we

should lose the trade we will only lose

$10 and it shows us what lot size to use

so it says here 0.07 so you're only

going to do the 0.07 you don't need to

type out the rest 0.07 okay so we then

come back to our meth Trader 4 and we

will do .07 and that means we are only

going to risk losing one % of our

account okay and at this point you would

then press buy so let's go ahead and

press buy um on this

occasion now because this is an old

trade we can't specifically use this uh

take profit so I'm going to go ahead and

remove the take profit and just go ahead

and get into the trade just so you can

see what a trade looks

like okay so we are immediately in a

trade right and and then what we do is

simply wait for the trade to play out as

it will okay so either go toward stop

loss or it go towards take profit so on

and so

forth right now you know how to enter

into a trade now the next um ability I'm

going to show you is how to secure your

trade and ensure that it is in a risk

free position many times you will see

instructions to go risk free right to go

risk- free and that basically means you

are in a profitable trade and we no

longer want to have our account at risk

um so therefore we would move our stop

loss to our entry price so that if the

trade goes backwards on us we don't lose

any money so in order for me to show you

this we do need to be in a profitable

trade so I'm just going to go ahead and

put myself into a profitable trade just

for Dem ministration uh purposes all

right so let's move on so sometimes you

will see some trade ideas coming from uh

V trades as well and you see them as

indices or crypto trades so let's have a

look at a quick an examp a quick example

if we go to Discord we can see the most

recent trade that was sent

out um was a uh let's have a

look all right guys so just for the

purposes of demonstrating how to go

risk-free I have taken a random trade

okay uh this time in the opposite

direction and all you want to do is edit

your stop loss and move it to the entry

point so every time you see an

instruction from uh one of our team

members uh saying go risk free or secure

trade you know go risk free go break

even all you're doing is editing your

stop loss to the entry price so we can

see here we've got uh our entry price at

149.5 592 a stop loss price of

14970 yeah so all we're going to do is

move the 14970 Zer to match our entry

price and that that is what makes this

trade a risk-free trade so you want to

hold down your trade click on

modify and literally just type in the uh

entry price which was 149.5 N2 so again

149.5

92 and press modify job done your you

are now secure you cannot lose any uh

any profits all right so the trade

reverses and goes back towards the entry

you are secure you are now in a

risk-free position so that's just the uh

FYI for whenever we need to go

risk-free okay so now here's another

instructible on how to take partial

profits so say for example we are in a

trade it's currently profitable um and

I've used a different lot size again

just to demonstrate this purpose so say

for example we say take partials or take

50% partials or secure some profit you

have the ability to edit some of that

lot size to close out some of the trade

and leave some running so say for

example you were uh taking partials at

takeprofit one and then you would leave

the rest to run towards takeprofit three

or take profit uh for or what whatever

this is what how you would go about

doing it so you would literally hold

down your trade and this time you would

press close and now you edit the uh the

lot size so as you can see it says 0.50

say for example you want to close 50% of

where you were at that time you would

literally then change that to 0.25 and

press close with profit that way you

have now secured uh uh some of the

profit so again you can ignore the the

figures above look at the very very

bottom figure uh 0.25 you you can see

that has closed out in some profit okay

so that's how you would go ahead and get

some uh partials from your trade okay

hope that helps now again just to make

sure that you can find V trades it's in

our Discord group um say for example

you've uh opened up the app you're on a

vis Traders group and it takes you to

community chat or whatever section of

the Discord Channel all you want to do

is just swipe right okay take your Thum

and swipe right and you'll see our menu

it has everything there and look for V

trades in the middle press V trades and

then all our trade ideas will be placed

over here for you to um have access to

now within free V trades you will

sometimes see us send out different

types of asset classes such as uh

indices you may also see us sending um

Commodities like gold as you can see

here uh you can see indices here and you

will also see us sending out crypto

trade ideas um as well such as Bitcoin

or ethereum so so how do we add these

onto our quotes section on metat Trader

for well very simply put again go to the

top right hand side of your screen press

the plus button and uh sometimes you may

see gold there uh already so you can

literally go to gold and the symbol for

gold is XA USD alternatively it may be

under Commodities right it may be under

Commodities so if you can't see gold

separately you may I need to come to

Commodities and then press gold from

there but as you can see it's uh simply

stated over here for us so we literally

just press plus and now we've got gold

uh if you want to add uh uh

cryptocurrency uh again top right hand

side we can then go and find

cryptocurrency and let's look for

Bitcoin as we can see it says Bitcoin

btcusd so press plus over there and

let's have a look for um ethereum so it

says ethusd over there press Plus on

that and press done so now we've got

Bitcoin and ethereum to be able to trade

and as uh and also gold now let's say we

needed an indices okay we want to add

indices to it again press plus go down

to

indices and then you can select the

indices that you uh want to be uh able

to uh trade so as an example the nas 100

uh ft so go ahead and press Plus on the

nas 100 uh and press done so whatever

indices you're looking for go ahead and

find in that section and now you have

the ability to trade gold uh as a

commodity cryptocurrency and indices as

well

now before taking any trades I do

suggest reading our V trades tips um our

trading tips in general uh which you can

find by clicking on vrad title at the

very top of the screen and it says pins

click on uh pins and you'll see tips

when taking all and any kind of trade

it's important that you do read this uh

especially if it's your first time um so

that you ensure that you are taking

trades appropriately and you have the

right expectations your account is

protected protected so on and so forth

so definitely go ahead and make sure you

read through this before you take any

trades yeah just a quick message

concerning indices trades as you can see

in the middle of the screen here it says

in order to calculate the correct risk

for indices trades using cashback

forex.com you will need to input the

contract size number you can find this

in mt4 by clicking on the stock you wish

to trade and clicking details so again

when using cashback Forex to calculate

your risk you also want to make sure

that you have the correct contract size

so essentially on metatrader 4 at the

very bottom we can see here Nas 100 so

press n 100 press details and you see it

says here contract size you just want to

make sure that you also have that number

matching up on cashback Forex um as well

when you're doing your lot size

calculation specifically for

indices now finally just as I mentioned

earlier there are some trade ideas which

will be limit orders um and as and when

you do see them all you want to do is

edit the trade type from Market

execution to limit whether it's a buy

limit or a sell limit so as an example

let's go to uh USD CHF press trade as

you can see it says Market execution at

the top in order for you to find a limit

order all you've got to do is click on

Mark execution and then you can click on

buy limit or sell limit that basically

means it's a pending order and so we're

waiting for the price to reach a

particular point

before it takes us into the trade so

when that happens you will then have the

choice to be able your the option to be

able to type in the actual price that

has been given to you from the trade

idea so you can go ahead and fill that

out obviously fill in your stop loss and

fill in your take profit um and then you

can go ahead and press place and then it

will be a pending order for you so

that's it guys I hope that has been

helpful any questions feel free to

message in the Discord group chat we be

happy to help you and um happy trading

make sure you continue to use proper

risk management uh trust the process

take your time and uh we look forward to

seeing you prosper over the long term

blessings take care