How to Find Asset Information on MT4
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To become a trader, you need to understand an asset before you jump to invest in it. The information provided on MT4 helps you know how much the asset is being traded, how the transaction fee is, etc. From there, the trader can easily make a buying/selling decision. To find information about an asset on MT4, please follow the guide below.
On MT4, you can search for information and data related to an asset: Trade Specification and Chart.
1. Trade Specification
You see 3 basic information fields displayed on the Market Watch window, including Bid price – Ask price – and Daily Change. In which:
- Bid Price – Ask price (trader expects the price to fall to make a profit).
- Ask price – Buy price (trader expects the price to increase to make a profit).
- Daily Change – the increase/decrease in price between the opening and closing prices (as a percentage).
In addition, you can see other symbol properties by right-clicking on a specific asset on the Market Watch window -> clicking Specification.
Then, its detailed information will be shown as follows:
- Spread – the difference between the bid and ask prices. If the spread is floating, the parameter is 0. Spread is different for each forex pair and decided by the broker.
- Digits – the number of decimal places in the asset price.
- Stop level – channel of prices (in points) from the current price. Trader cannot place Stop Loss, Take Profit and pending orders inside this channel. If an order is opened within this range, the server will return the message “Invalid Stops” and the order is not be accepted.
- Contract size – number of units to execute Buy/Sell 1 lot.
- Margin currency – the currency in which the margin is made.
- Profit calculation mode – how to calculate profit
- Margin calculation mode – how to calculate margin
- Margin hedge – margin level (when you use a symmetrical order)
- Margin Rate – margin rate (when you start opening an order)
- Margin Percentage – determines what part of the base margin size value calculated according to the symbol type is charged.
- Execution – execution type: Instant, Request or Market
- GTC Mode – in which, Pending a good till cancel: orders that are valid only during one trading day. With the end of the day, all levels of Stop Loss and Take Profit, as well as pending orders are deleted. And Pending a good till today excluding SL/TP: when a trade day changes, only pending orders are deleted, Stop Loss and Take Profit levels are preserved.
- Minimal volume – the minimum volume to execute a transaction.
- Maximal volume – the maximum volume to execute a transaction.
- Volume Step – the amount of change in volume when executing an order.
- Swap type – type of swap calculation ( in points, in the base currency, in percentage terms).
- in the margin currency – the specified amount in the symbol margin currency.
- Swap Long – swap for Buy orders
- Swap Short – overnight fee for Sell orders
- 3 days swap – the day of triple swap charge
- Session Quotes – market open/close time, in hours Server LiteForex (GMT+3)
- Session Trade – transaction time, in hours Server LiteForex (GMT+3)
A price chart is where you track real-time price history, from which you can predict the future direction of an asset. This is a critical type of data when looking for information on a currency pair because price history often tends to repeat.
A price chart is an essential tool for trading in the financial markets in general and forex in particular. Based on the chart, traders get a better overview of the market.
In addition, you can also perform technical analysis, set up the charting interface as you like by adding indicators, charting tools, etc.
To open an asset’s price chart, click on that asset, hold the mouse, and drag and drop to the chart tab next to it. Or right-click on the asset you want to see the chart-> select Chart Window.
It is a big challenge for several people to make an investment or trading decision, especially for newbies who do not have much experience. However, with the information and tools that MT4 provides to traders, it becomes more convenient to aggregate data and analyzes buying/selling opportunities for a financial asset. Also, remember to practice on a Demo account before actually investing with real money. The following article guides you on personalizing the MT4 display interface to suit your needs.
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