How to run Metatrader 4 on an Android phone
Advances in technology have clearly made it very easy for traders. All things can be done using android. Likewise, traders can get multiple benefits by trading forex on an android phone. Here are tips for running Metatrader on an Android smartphone:
Selecting the desired platform
Metatrader 4 (MT4) webtrader version has been provided by many brokers and can be accessed more flexibly. However, the program does not have a login feature with multiple accounts like metatrader 4 android. Even though MT4 webtrader has more complete functions, in terms of display, chart menu orders, and other parameters are superior and comfortable on MT4 android.
Traders need to choose the type of platform needed, between metatrader 4 android which is more user-friendly and has multiple accounts logins or MT4 web trader which has more functions but feels less comfortable than trading on a mobile screen. If you want both, traders can look for a broker that offers both platforms at once.
Getting to Know the Ins and Outs of MT4 Android
The key to successfully implementing how to play forex via Android is to recognize this application well, including its features and navigation. Learn well the appearance of the chart, the indicators provided, how to place orders, modify positions, to the functions that need to be used to help smooth trading. Don't rush to use MT4 android to do real trading without knowing the ins and outs well.
Learn how to do simple technical analysis
Using MT4 android it is not possible to add custom indicators, therefore traders depend on technical analysis that dwells on the tools and indicators available on the platform. This causes trading strategies to be more limited to analytical methods with basic indicators. So the Android MT4 is not suitable for traders who depend on indicators.
Minimizing Indicators on MT4 Android
On a trading system using Android, you should only apply basic indicators such as moving averages, Rsi, and the like. As much as possible, do not combine too many indicators, because they are not compatible with trading capabilities via smartphones. Instead, you should focus on trading strategies without indicators, such as price action analysis or chart patterns.
Support Trading with Fundamental Analysis
Perfect your trading via android by following the fundamental news closely. Technical analysis and order execution can be done via the android metatrader 4 platform and fundamental updates can be done via the forex site in the trader's favorite browser.
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