How To Take & Manage Trades - Full MT4 Tutorial
Summary
TLDRIn 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
- đ± 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.
- đ To connect to a broker, select 'Settings', then 'New Account', and log in using details provided by Vantage Broker via email.
- đ Use the correct server as indicated in the email from Vantage Broker, and ensure to copy and paste the login details to avoid mistakes.
- đ» For iPhone users, the process may differ slightly from Samsung users, who should perform the equivalent steps on their devices.
- đ° After logging in, check the 'Settings' to confirm the connection, and use the 'Trade' section to manage currency pairs for trading.
- đ Add currency pairs to the 'Quotes' section by selecting 'Forex' and choosing preferred pairs, then save the selection.
- đ Trade ideas can be sourced from three locations: V trades, the VTG Discord group, and the Manara Telegram group.
- đ Understand the difference between market execution (immediate trade) and limit orders (pending orders waiting for a price level).
- đč Use a lot size calculator from cashbackforex.com to determine the appropriate trade size based on a 1% risk of the account balance.
- đ« To go risk-free, move the stop loss to the entry price once the trade is profitable, ensuring no loss of initial investment.
- đ For taking partial profits, edit the lot size to close out a portion of the trade, securing some profit while leaving the rest open.
- đ 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
đČ 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.
đ 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.
đ° 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.
đ 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.
đĄïž 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.
Mindmap
Keywords
đĄMetaTrader 4 (MT4)
đĄVantage Broker
đĄTrade Copier
đĄRisk Management
đĄLot Size
đĄStop Loss
đĄTake Profit
đĄMarket Execution
đĄLimit Order
đĄCurrency Pairs
đĄPartial Profits
đĄDiscord and Telegram Groups
đĄIndices, Commodities, and Cryptocurrencies
đĄContract Size
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 ÂŁ10 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
Voir Plus de Vidéos Connexes
How To Trade Forex For Beginners in 2024 | Full Tutorial
How I manage position size, money, and risk management (Class 15)
This Gold Scalping Strategy Still Makes $100s in Seconds!
O melhor sistema de scalp para criptomoedas que vocĂȘ vai encontrar no youtube
Fractal Breakout Strategy - by Bill Williams part 2
TOP 4 Trading Strategies to Make $500/Day For Beginners
5.0 / 5 (0 votes)