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Glossary

The Terminal window in MetaTrader 4 is the panel at the bottom of the platform that shows your open positions, pending orders, account metrics, trading history, and the platform's system logs...

A forex trader explaining how to read the MT4 terminal window. 

How to Read the MT4 Terminal Window

Lot size on MT4 controls the volume of each trade, which in turn determines your pip value, your margin requirement, and your total exposure on the position. Setting the lot size correctly is...

A forex trader shows how to change lot size on MT4.

How to Change Lot Size on MT4

The economic calendar in MetaTrader 5 is a built-in tool that lists scheduled economic events such as central bank decisions, inflation prints, employment reports, and GDP releases. Traders u...

A forex trader shows how to use the MT5 economic calendar.

How to Use the MT5 Economic Calendar

An Expert Advisor (EA) is an automated trading program that runs on a chart in MT4 and executes trades according to coded rules. Installing an EA on MetaTrader 4 involves placing the EA file ...

A forex trader shows how to install EA on MT4

How to Install an EA on MT4

A trailing stop is a stop-loss that automatically follows the market price at a fixed distance once a position moves into profit, locking in gains as the trade develops. On MetaTrader 5, trai...

A forex trader showing how to set a trailing stop on MT5

How to Set a Trailing Stop on MT5

A trailing stop is an automated mechanism that moves a stop loss in the direction of profit as the market moves favourably, allowing winners to keep running while protecting accumulated gains...

A screen showing how to set a trailing stop on MT4. 

How to Set a Trailing Stop on MT4

Closing a trade on MetaTrader 5 means ending an open position and locking in whatever profit or loss has accumulated up to that point. MT5 offers several ways to close a trade, including full...

A forex trader showing how to close a trade on MT5.

How to Close a Trade on MT5

Closing a trade on MetaTrader 4 means ending an open position and locking in whatever profit or loss it has accumulated up to that point. MT4 offers several ways to close a trade, including f...

Forex traders showing how to close a trade on MT4. 

How to Close a Trade on MT4

Technical indicators are mathematical calculations applied to chart data to help traders analyse trend, momentum, volatility, and potential reversal points. MetaTrader 5 includes thirty-eight...

A forex traders shows how to add an indicator to MT5. 

How to Add an Indicator to MT5

Technical indicators are mathematical calculations applied to chart data that help traders identify trends, momentum, volatility, and potential reversal points. MetaTrader 4 includes thirty b...

A forex trader showing how to add an indicator to MT4. 

How to Add an Indicator to MT4

A pending order is an instruction to buy or sell at a specified price in the future, rather than at the current market price. MetaTrader 5 supports six pending order types, two more than Meta...

A forex trader reviewing how to place a pending order on MT5.

How to Place a Pending Order on MT5

A pending order is an instruction to buy or sell a financial instrument at a future specified price, rather than at the current market price. MetaTrader 4 supports four pending order types, e...

A forex trader reviewing how to place a pending order on MT4. 

How to Place a Pending Order on MT4

A take profit is an order attached to a position that closes it automatically when the market reaches a specified favourable price. Used alongside a stop loss, it forms the second half of a p...

A forex trader reviewing how to set a take profit on MT4.

How to Set a Take Profit on MT4

A stop loss is one of the most fundamental risk management tools available to a trader. On MetaTrader 4, the stop loss is set as a specific price level attached to an open or pending position...

A trader reviewing how to set a stop loss on MT4.

How to Set a Stop Loss on MT4

Floating profit and loss, commonly written as floating P&L, refers to the unrealised gain or loss on positions that are currently open in your trading account. It is the running total of how ...

A chart showing what floating P&L means in forex.

What Does Floating P&L Mean in Forex?

Margin level is the single most important number on a leveraged trading account because it determines when the platform stops the trader from opening new positions and when it begins to close...

Forex traders discussing what margin level means in MT4.

What Does Margin Level Mean in MT4?

Equity is the real-time value of a trading account. Unlike balance, which only reflects settled activity, equity includes the unrealised profit or loss of any open positions, updating tick by...

Forex traders discussing what equity means. 

What Does Equity Mean in Forex Trading?

The balance figure shown in the MT4 or MT5 terminal is one of the most basic but most commonly misunderstood values in a trading account. It represents the cash value of the account, but only...

A forex trader reviewing what a balance means in MT4 and MT5.

What Does Balance Mean in MT4 and MT5?

Metals CFD trading lets a trader speculate on the price of gold, silver, platinum or palladium without buying or storing the physical metal. The contract derives its value from the underlying...

A forex trader reviewing metals CFD trading.

Metals CFD Trading: How to Trade Gold, Silver, Platinum and Palladium

The timeframe of a price chart sets the unit of time each candle or bar represents, and that single choice shapes almost everything about how a trade is identified, sized, managed and exited....

A forex trader leveraging timeframe trading.

Timeframe Trading Explained: How to Choose the Right Time Frame

Pairs trading is a strategy that takes a long position in one asset and a short position in a closely related asset at the same time. Profit and loss come from the change in the relative pric...

A forex trader working on a pairs trading strategy.