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  • Using MT4 Android Tablet App (Part 3)

    Video Transcript

    Using MT4 Android Tablet App (Part 3)

    If you tap on the “Trade” tab of the platform you will see all of your open orders along with your pending orders and all of the details of your account. You should see the following details of your account as long as you have an open position.

    1. Balance = The total amount of money in your account. This number does not account for any unrealized profit or losses.
    2. Equity = Your balance plus your unrealized profit or loss.
    3. Margin = The amount of funds required to keep open the positions you currently have open.
    4. Free Margin = The amount of equity you still have left to open up positions with before you receive a margin call.
    5. Margin Level shows the relationship between your margin and your equity. When you margin drops down to your equity; liquidation occurs and you are closed out of all open positions and all of your pending orders are canceled. If your margin level hits 100%, which means your equity has dropped down to your margin requirement, a margin call will occur.
    Above the parameters of your account you will see your opened positions. In each position you will see the order number, time of execution, type of the order, the volume, currency pair you are trading, your entry price, stop loss and take profit price, the spot price for the pair, swap and your profit or loss for the position.

    Below the parameters of your account, your pending orders are displayed. There you will see you will see the order number, time of when order was placed, type of the order, the volume, currency pair, your entry price, stop loss price, take profit price, and then the current spot price of the position to see how close your order is to being executed.

    If you would like to edit any of the orders on the “Trade” tab, then simply hold your finger on it for about one second. This will bring up a pop up box that will show you options to “Close order”, “New order”, “Modify order” or “Chart”.

    1. Close order = Brings you to an area where you can close your order or modify the stop loss or take profit.
    2. Modify order= Much like the close function only you can only modify your stop loss or take profit.
    3. New order = Brings you back to the trade tab to place a new order.
    The “History” tab enables you to view your trading history.

    On the right side at the top of the panel, there is an area where you can select the desired history timeframe for revision: either “Today,” “Last week,” “Last month”, “Last three months” or “Custom period”. This is the time period in which you are selecting to see your history for. If you select the “Today” button, you will see any trades that were closed out for the day and any profit or loss as well as the details of each traded placed. If you select “Last month”, it will be a whole month’s worth of history that will come up. The same is true for the “Last week” button. The “Custom period” button allows you to view your trade history for a specified time frame, as well as all your trades for a select instrument. Simply enter the dates into the field at the top of the screen.

    To view your trades by instrument, tap on “dollar sign” button on the right side at the top of the panel and then select the desired currency pair. Or select “All symbols” to see all your trading history.

    If you click on “Journal” tab you can view logs of MetaTrader 4 for Android. The journal shows you records of actions done from within the application. On the “Journal” tab, we can report a technical issue, view specific journal events by date range or refresh the journal so that it updates.

    Let’s quickly discuss the other features of MT4 Android Tablet app.

    The “Mailbox” section allows users to find the messages sent to the Terminal.

    In the “News” section all incoming news are published and arranged according to the time.

    On “Messages” tab incoming messages are displayed. There we can get access to your MetaQuotes ID, search your messages or delete selected messages.

    The “Settings” section allows us to adjust various parameters of the MetaTrader 4 for Android app. “About” section provides you with information about the MetaTrader 4 Android version.