How to Activate One Click Trading in MT4
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The one-click trading function built into MT4 simplifies the trading process and significantly reduces its time to execute a trade. You can use this function to open and close orders, set stop loss and take profit, and place pending orders with minimal clicks.
1. Why traders should use One-click Trading?
The MT4 platform offers various trading and analysis technologies and additional services for professional traders. The platform also offers algorithmic trading, allowing trading with the help of automated trading systems. Besides the most significant benefit of being able to trade instantly, one-click trading also comes with several other benefits such as:
- It offers a variety of order types that you can customize to suit your trading strategy.
- You can trade directly from the chart.
- After you set the parameters like stop loss and take profit order, you just need to click once and the parameters will work automatically.
2. How to activate One Click Trading in MT4
- In the top menu, click on ‘Tool’.
- Select ‘Options’.
- In the ‘Trade’ tab, tick the ‘One Click Trading’ option at the bottom of the screen.
- A window will appear, asking you to consent to use this feature. Read it and if you are sure you want to continue, tick the ‘I Accept these Terms and Conditions’ option and click ‘OK‘.
The one-click function will be enabled.
3. How to Open the Trading Dashboard with One Click Trading
There are three options to open the trading dashboard with One Click Trading
- Click the triangle icon in the upper left corner of the chart.
- Right-click anywhere in the chart window and select ‘One-Click Trading’ from the drop-down menu.
- Select the desired chart and press Alt + T simultaneously.
4. Components of the Trading Table with One Click Trading
- The triangle icon (on/off function) activates or deactivates the control panel.
- The symbol of the currency pair being traded
- Timeframes. MT4 offers nine timeframes for traders (from 1 minute to 1 month)
- Prices (Opening price, Highest price, Lowest price, Current price)
- Sell order button.
- Order volume field. You can set order sizes from micro-lots to standard lots.
- Buy order button.
- Current selling price.
- Current buying price.
The panel changes color to represent different fluctuations in the platform. The red panel means the current currency quote is lower than the previous quote. Blue panel means the current currency quote is higher than the previous quote.
The dashboard is also grayed out if there is no change in currency quotes for at least 15 seconds. Red, blue, and gray are the default color settings, but they are customizable.
One-click trading is a great tool that will help you trade faster. However, like any instrument, it only works well if backed by solid trading experience, solid strategy, and solid knowledge of the market. Practice using one-click trading in a Demo account before risking your capital with Live trading.
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