Hi fellow trader techies! I’ve been gone a long time, I hope you missed me. No, I’ve been here at Winner’s Edge working in the background all this time. Things like our Signal Service, a few EAs and other programming projects. The last traders tech article I wrote was Part 2 of installing expert advisers and indicators, which can be a pain, so I did a short tutorial.
The folks at Metatrader finally got smart. Well, they’ve been smart all along, but they realized a very important feature of MT4 was missing. Those of us who do some scalping already know what a pain it is to open and close trades on MT4 without some sort of script or EA that allows one-click trading. In fact, I’ve steered clear of scalping on the MT4 platform because of it. I take most of my scalp trades on my Oanda platform. You may remember my article about Oanda’s platform here. Oanda has improved their Java trading platform dramatically since I wrote that article, but that’s a story for another day. Anyway, as I was saying, the folks at Metatrader have been paying attention. The latest build (# 482) has been released and it has a new feature called the Trade Panel. (If you don’t have build 482 yet, just be patient, your broker will push it out in due time. If you haven’t shut down your MT4 platform in a while, you may want to do that and restart it to see if you receive the update.)
The trade panel consists of a group of buttons in the upper left corner of your chart (if you have build 482 and don’t see the Trade Panel, click the little triangle icon in the upper left corner of your chart.) You can click the arrow buttons on either side of the trade size (1.00 in this image) to increase or decrease the trade size by microlot. Click the Sell button to sell or the buy button to buy. It’s nice to be able to take trades without turning yourself inside out the way we used to have to do it.
To set up one-click trading, click on Tools/Options, then click the Trade tab on the Options dialog box. Checking the One-click trading checkbox will bring up the One-click trading disclaimer dialog below. You will be returned to the Tools/Options dialog once you confirm you intentions by checking the I accept… checkbox and clicking OK. Then click OK on the Options dialog box to complete the one-click trading setup.
Once you have enabled one-click trading you will be ready to use MT4 for scalping with quick market entry trades.
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