Three Ways to Trade Forex on the MT4 Platform

If you’re not trading with an MT4 forex broker, then you need to ask yourself why not. The best traders in the retail forex trading space have made the switch across to MT4, so why haven’t you?

There are three major ways that the most profitable traders do their trading on the MT4 platform and we’ve outlined MT4’s ability to handle them. Have a flick through the different ways to trade on MT4 and find the one that best suits you and your own trading requirements.

Discretionary Trading on the MT4 Platform

Discretionary forex trading is simply making decisions as the market presents itself to you. As a discretionary forex trader, you decide which direction to trade based on the current state of the markets and the conditions that are presented.

Don’t allow your trading analysis to be limited by your platform. Whether you’re using technical analysis, fundamental analysis or even your own feel for momentum in the market, discretionary trading on the MT4 platform is made clear and simple.

This is the opposite of a systems based trading method, which can be coded into an MT4 Expert Advisor as you will read about in the next section.

Expert Advisors on the MT4 Platform

Systems based forex trading is a rule based approach to making trading decisions. If you’re a forex trader that follows a particular system or set of rules, then those and those alone are all that will decide when you enter and exit a trade. All discretionary judgement and the state of the market is not taken into account.

It is this lack of discretionary override, which means forex systems can be coded and traded on the MT4 platform as an Expert Advisor (EA). With Vantage FX’s stable servers and lightning fast fibre optic network, trading your profitable EA on our MT4 platform is the obvious choice.

If you have a profitable EA, then the MT4 platform also makes it easy to share your strategy with others as trading signals. We go over this in the final section of the blog.

Trading Signals on the MT4 Platform

A trading signal is an alert to enter a trade, usually at a specific time and price. Forex signals on the MT4 platform make it possible for forex traders to follow your every order and in real time.

Not just for the professionals, by clicking the signals tab on your MT4 platform, traders of all levels can gain access to the systems of profitable forex traders. MT4 then allows you to make your own trading decisions that mirror their own, ensuring that you are not trading against the pros.

Whether you’re a professional forex trader looking to diversify your income through offering a forex signal service, or you’re a new trader looking for a profitable system to follow, trading signals on MT4 is the smart choice.

As you can see, the MT4 platform makes each of the three ways to trade forex simple and intertwined. Why not try the Vantage FX MT4 platform by opening an account today!

Source: Vantage FX Blog