Create a demo account in metatrader 4 Forex – Details of how to do it
When we decided to innovate and undertake in the world of trading the different of our contents we have made clear the importance of doing a previous training. This so that our first capital does not dissolve into «beginner» errors in this way we need to leave you the information on how to create a demo account in metatrader 4 Forex.
Keeping in mind that the demo account means an instrument of vital learning importance. With which you will have the same feature and provide the same functionality, as if it were a normal account. However, the difference is what is a test capital, invalid and not real. But it will be enough to learn.
What is the use of creating a demo account in metratader 4 Forex?
The idea is that you can carry out operations in real time, with the stipulated figures so that you understand the path of the analysis of the different operations. Where you will find, in the app, the technical indications. Starting a path of trial and error, but without affecting your own capital.
Note that how to create a demo account in metatrader 4 Forex, you can do it from a computer or a mobile device. Finally, these accounts will function as the guide or demo to learn how to handle trading.
MetaTrader is the best difficult market that exists electronically. In this we can get, investors who are around the world. It is recommended to start, in the world of trading because its platform is quite simple and friendly when using it. Among the advantage you get in it, it is the advanced technical analysis that makes trading a less complex way.
How to have a demo account on Forex?
In addition to all this platform allows you to customize it, so that it gives you results of what you are looking for in Trading. Making it much easier, searches when you need to make an investment. Everything is governed by a list of parameters, which is previously established so that the same platform can make the corresponding recommendations.
- To open an account creating a demo account in metatrader 4 Forex is quite simple, because it is done from the PC or by downloading the app from the PlayStore.
- Then you will need to fill in the data to register once the application is installed and allows you to Log In.
How to have a demo account on Forex?
Best of all, the demo account will work the same as the real one. Therefore, you can follow the following tips, to know what to do at the time you have a demo account in Forex.
To open a new one, operation you will have to go to tool and create a new order. Where all the commands or this window appear, you can open it simply with the F9 key on your keyboard. Where you will have at your disposal the following components:
- In principle we will find a symbol, where it should be filled according to the market you want to use.
- Then we have volume, to know with how many contracts the operation will be carried out.
- The important Stop Loss means the same, what on another platform. To mark where you want it to happen.
- We also find the Take Profit so that a limit can be placed.
- Comment, to leave some kind of annotation in the operation.
- Finally, select the type of operation how to buy or sell.
This may include closing positions at the indicated time, as well as viewing pending orders. This way you can see the flow of the market before you have a significant loss, or if it is time to close earlier to make the profit and not risk more. For this you can press the Ctrl + T key where we will select the option to see and click on finish. Then we can enter the following tabs What is trading, what we are allowed to close a position or delete the order.
If we need to study the situation for a moment, where we will place stop to any of the operations we can do it from the window, where we find the orders we will have the way to Add Stop or place the relevant limits. It is recommended to save the changes, after making any configuration modifications.
Among the tools that MT4 ter itself allows us to use different objects, to mark the graphs. They are of vital importance, because with this drawing and the analysis we do, we can have a conclusion of the operation and know if it is convenient or not.
Within the objects we find, we can place text, text labels, an equidistant channel, vertical lines, cursor, crosshairs, arrows among others.
How do I use a price alert on a Forex demo account?
These modifications in general can be used only by pressing the combination of letters CTRL + T where to get directly the alert editor, where you can modify any of them. Adding the one that suits you best, with the price you consider appropriate. In any case, you will always have the possibility to consult the trading history with the best combination of letters, but this time in the account history.
The app allows you to view the account history, depending on how long you want. You can select a period, which you consider necessary the general all history. What it would mean, the possibility of knowing where you have had loss of money and perhaps this will help you to improve as much as possible a little more in the way of negotiating, trading to generate income.