How to Setup Metatrader 4 (MT4) 【Forex Trading Beginners Guide】

Forex Trading for Beginners

How do I set up MT4? Should I download the software from Metatrader official website or from my forex broker? I also want to customise the chart to make it look cool like a pro

So,,, You are wondering how to get started with Metatrader 4 (MT4)

In this post, you will find how to set up MT4 and customise it.

Who writes this post: Hi! My name is Luffy! I’ve been trading forex for six years. I make my living from software development, and trading has been one of my primary sources of side income. Being able to trade at a decent level enabled me to travel more freely. Have a Good Trade!

Contents Summary:

  • Install MT4 and login to your server
  • Customise the chart for better visibility

Install Metatrader4 (MT4) and login to your server

Once you opened an account with your forex broker, you should be able to find a link to download MT4. Go ahead and click download.

after it’s downloaded click the drag and drop the .exe file and double click to start the installation process.

If you are planning to install multiple copies of Metatrader, I recommend you to change the name here.

(I will explain the benefit of creating multiple copies of MT4 in the future post)

Once you are done with the installation, open up the MT4 and you will see a screen like this.

Select the server that the broker has assigned your account to, normally you can find this in the admin page or information is sent via email.

Enter the ID and Password, check the bottom right corner, if it shows any numbers you are successfully connected to the server.

Note: If you are unable to find the server that is provided by the broker,

  1. Go to File
  2. Open an Account
  3. Click “add new broker…” at the bottom
  4. Type the server name
  5. Hit next and enter the credentials

Congratulations, now you have successfully installed the MT4

Customise the chart for better visibility

The default screen doesn’t look very nice…

I understand it’s a matter of personal preference but if you want your chart to look like this, below are the process to edit the settings.

1: Right-click the chart and click properties

2: Change the colours

Bar Up: DodgerBlue
Bar Down: White
Bull Candle: DodgerBlue
Bear Candle: White
Ask line: LightSlateGray

3: Click on “Common” tab

Tick on Show Ask line
Untick on Show grid

4: Shift the chart and change to candlestick by clicking these two buttons from the menu.

It’s done!

You can now save this setting as template.

1: Right-click and select template

2: Save template

3: give it a name (ex:basic.tpl) and hit save

You will be able to apply the same setting when you create new charts by selecting the template in the future.

Okay, that’s it for this post!

So,,, how did you like this post? Making the chart easier to understand does add value to your trading. I tend to stay away from white background because it stresses my eyes when I’m looking at the chart for a while. However, everyone has their own preference so play around and make template that is most comfortable for you! Happy Trading!

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