Transcription

Metatrader User Guide1

Download and Install MetaTraderYou may have only recently decided to trade Forex. Or, you might be a newcomer toMetaTrader from another platform? Whatever the case, I congratulate you for yourchoice!MetaTrader is the platform of choice for automating your trades.These are some of features of MetaTrader: Operating with different financial marketsinstruments (FOREX, Futures, CFD);Unlimited charts quantity;Supports of various timeframes;Large number of Indicators, Experts and Scriptsshipped with;Friendly user interface with multilingual support;Secure operating environment (128 bit encoding isused);Internal e-mail;Real-time data transferring via DDE;Receiving on-line news from financial markets;Build-in programming language enables you to write/edit your own customindicators, Expert Advisors and scripts.Today we are going to take the first step towards profit with this great platform. Weare going to download the MetaTrader platform!There are two versions of MetaTrader: MetaTrader 3 and the most current version,MetaTrader 4. Some brokers still do not support MetaTrader 4, so and in those cases,you must download MetaTrader 3.However, most of brokers do support MetaTrader 4. And it's the version we are goingto download today!There are a lot of sites where you can download Metatrader 4. Though, most ofbrokers who support MetaTrader 4 present their version to download. You will have todownload the version provided by the broker you are going to work with as theirversion contains server settings for that particular broker.These are the steps you will have to take to setup MetaTrader 4:1- Downloading MetaTrader 4:2

If you haven’t downloaded the MetaTrader 4 program yet, you can get a free versionby going to: http://www.metaquotes.net/downloads, and choosing the latest versionof MetaTrader 4 Client Terminal (Current version is 4.00 Build 190).Get a cup of tea if you have a slow internet connection, or a cup of water if you haveDSL, while the download takes place (Figure 1).Figure 1 - Downloading MetaTrader 42- Installing MetaTrader 4:When the download completes, double-click the setup program (mt4setup.exe) andyou will get a screen like this:3

Figure 2 - Choose the languageChoose the language you prefer for the MetaTrader user interface. Then click the Nextbutton to go to the second step.4

Figure 3 - Welcome and copyrightThe setup program welcomes you and reminds you about the copyright of MetaTrader.Click Next to continue.Figure 4 - AgreementThe setup program of MetaTrader shows you the End User License Agreement and askyou to select the option "Yes, I agree with all the terms of this license agreement"before continuing the installation of the program. Please check the option box andclick Next button.5

Figure 5- Installation folderHere you can change the destination folder where the MetaTrader will be installed orleave the default folder "C:\Program Files\MetaTrader 4".You can have more than one copy of MetaTrader installed in your machine, but each ofthem must be installed in a different folder.Choose the folder you want and click Next to continue.6

Figure 6 - Program groupHere, you can change the name and place for which the program will appear in yourWindows Programs Menu.Keep the default name (or change it if you want) and click Next button.7

Figure 7 – “You are now ready ”Setup will tell you that "You are now ready to install MetaTrader 4."If you want to change the destination folder you have specified, click the Back buttonor, if you are ready to install MetaTrader, click Next button.8

Figure 8 - Copying FilesThe setup program will begin extracting the packaged files and copying them into theMetaTrader installation folder. You can click Cancel button anytime during theinstallation to cancel the process. Be patient as the setup program copies the files.You will automatically go to the next step once copying is complete.9

Figure 8 - FinishCongratulations! You have installed the MetaTrader 4 successfully and are ready tolaunch it.Click Finish button to start MetaTrading.3- Creating a demo account:The first time you launch MetaTrader 4, you will get a form like this:10

Figure 9 - Creating a demo accountFill-in the form with your data (like the above one) and check "I agree to subscribe toyour newsletters" option, then click Next button.11

Figure 10 - Choose the serverChoose a Trading server that you want to join from the above list.Click the Scan button to check the speed of each server before choosing one of them.You can either choose the fastest server or one that suits your preference (if you’veheard of it), and click Next button.12

Figure 11- Opening an accountYou will be asked to wait a few seconds before receiving your account details. Keep itin a safe place because you'll need your login and password to login to your demoaccount. Click the Finish button to log into your account and start trading.4- Logging into your demo account:If you are a lucky person like me, you will log to your account without errors, and getsomething like this:13

Figure 12- Logging InCongratulations! You have installed MetaTrader 4, and have a demo account. Enjoytrading!14

First session Installing MQL4 programs!One of the most important features of MetaTrader is the ability to write your ownprograms and attach them to the MetaTrader terminal.These programs include Indicators, Expert Advisors, Scripts and Libraries.These programs are written in a programming language called MQL4, and can be usedin MetaTrader when properly installed.Today, we are going to study how to install these programs to use them withinMetaTrader.Format:There are two kinds of files that you'll use with MetaTrader: the programs files and theexecutables files.The program files are normal text files that have one of these extensions: .mq4 and .mgh.These files are the source code of programs written in the MQL4 programming language.They can be opened and edited with a program, shipped with MetaTrader, calledMetaEditor. This program enables you to view, edit and compile these types of files.The executable files are binary files that cannot be opened for viewing or editing, andhave the extension, .ex4. These files are the result of compiling the .mq4 files usingMetaEditor, and can be loaded into and used by MetaTrader.Note: The .mgh files are header files that have line of codes that MQL4 programmers caninclude in their MQL4 programs. So, they cannot be compiled to .ex4 files.Compiling:Compiling is an operation performed by a special program called a compiler toconvert readable text format to binary format, which the computer can easilyunderstand.This is a general definition of compiling. But, compiling, in our case, is converting mq4files to ex4 files using the MetaEditor program.To do this, we simply open the mq4 file in MetaEditor. By pressing F5 hot key,MetaEditor will compile (convert) the mq4 file to ex4 file, keeping the mq4 file intact.MetaEditor will place the generated ex4 file at the same path as the mq4 file.15

We must compile mq4 files to ex4 files because MetaTrader is unable to load any fileother than ex4 files.So, when we get mq4 files and compile them, does it mean that we’re done installingthem and their ready to use?Actually, no! There's another step we need to take. This step is putting the ex4 file in itsproper folder.Note: It's recommended that you perform this step prior to compiling because thecompiler will place the ex4 files in the same place as the mq4 files.Folders:You know that there are four kinds of MetaTrader programs: Expert Advisors, Indicators,Scripts, Libraries, other than the header files (.mgh files).MetaTrader is very organized program that has a folder for each type of program. It alsoexpects you to be an organized trader, placing every program in its proper folder.MetaTrader searches the folder of the Experts for Experts, as well as the folder of theIndicators for Indicators, etc.MetaTrader is only interested in ex4 files. When it searches for them, MetaTrader expectsthe ex4 files to be in the proper folders.So, it is important that you place the source code of the Expert Advisors in the folder forExpert Advisors, and use MetaEditor to compile them to generate ex4 files in the ExpertAdvisors folder. The same holds true with Indicators, Scripts and Libraries.These are the folders used:Expert advisors folder:MetaTrader Dir\expertsIndicators folder:MetaTrader Dir\experts\indicatorsScripts folder:MetaTrader Dir\experts\scriptsLibraries folder:MetaTrader Dir\experts\librariesInclude folder (mqh files)16

MetaTrader Dir\experts/include17

First session - Modifying an Order!We have placed our first order in the previous article. Today we are going to learnhow to modify and close this placed order.Let's start with the limits that we can set to an order!Order Limits:Order limits are boundaries that you can set to an order to prevent big losses and toensure that you make a profit as soon as possible.These are the types of the order limits:Stop loss:Stop loss is a limit point that you set to your order. When reached, the order will beclosed. This is useful to minimize your lose when the market going against you. Stoplosses points are always set below the current asking price on a buy or above thecurrent bid price on a sell.Trailing Stop:Trailing stop is a type of stop loss order that is set at a percentage level either belowthat market price, for a long position, or above the market price, for a short position.The price is adjusted by Expert Advisors as the price fluctuates.Take profit:Take profit is similar to stop lose in that it’s a limit point you set to your order. Whenreached, the order will be closed.There are, however, two differences:There is no “trailing” point.The exit point must be set above the current market price, instead of below.How to Modify an Opened Order (Stop Loss and Take Profit):18

Step 1:In the terminal window, right click on the order you want to modify. From the contextmenu, choose Modify or Delete Order (Figure 1).Figure 1Typically, the Order Window will pop up, but in this case it's in a medication ordermode (Figure 2).19

Figure 2Step 2:In this window you will find two boxes to set (in pips) the Stop Loss and Take Profitprices (Figure 3). When the prices have been set (in pips) for those boxes, you havemust click the "Copy as:" buttons under each of the two boxes to let MetaTraderconvert your levels into prices.Or you can write the prices of Stop Loss and Take Profit directly in the Stop Loss andTake Profit combo boxes (Figure 4).20

Figure 3Figure 4Step 3:Now you have to click the Modify button (Figure 5) to send your modification to thebroker. You will be prompted with a window like figure 6. Click OK button.21

Figure 5Figure 6This will set the limits you've chosen to the order and will appear in the terminalwindow as shown in figure 7.22

Figure 7Congratulation! You have set the Stop Loss and Take Profit levels to your order. Whenthe price reaches these levels, it will be closed automatically to prevent more losses ifthe Stop Loss price is the one that has been reached, or take your profit if the TakeProfit price is the one that has been reached.Now, you could ask me, What about setting the Trailing Stop?How to set Trailing Stop:The Stop Loss and Take Profit limits, which you have learned to set, were sent to thebroker. Even if you close MetaTrader, the broker knows when to stop the order.But, in the case of Trailing Stop, MetaTrader has to be on because it sends the newStop Loss level continuously to the broker. If you close MetaTrader, the broker willonly know the last Stop Loss level MetaTrader sent before shutting down.Now let's set the Trailing Stop level to our Order.Step 1:In the terminal window, right-click on the order you want to set its Trailing Stop. Andfrom the context menu, choose the Trailing Stop sub-menu (Figure 8). The sub-menuwill show you following commands:Delete All: To delete and all previous Trailing Stops you have set.None: It means no Trailing Stop level has been set.15 Points, 20 Points . 50 Points: These are the default points (Pips) level that youcan choose from them. If you not interested in them, you can choose the customcommand.23

Custom.: Clicking this command will open the Custom Trailing Stop Window (Figure9), which allows you can set a custom Trailing Stop level. Please note that the TrailingStop must be greater than 15 Points.Step 2:Choose the level from the context menu, or set the custom level, and click OK. TheTrailing Stop will be saved. MetaTrader will use this setting to move your Stop Losslevel automatically, as long as you running the program.24

First session - Placing an Order!MetaTrader is the platform which enables you to send yourorders to a brokerage to Sell or But a currency pair.Today, we are going to place our first order in MetaTrader.Placing your first order step by step:Step 1:Load your instance of MetaTrader, and log into your account (MetaTrader willautomatically log to your default account).Step 2:To place an order (Sell or Buy), you have to open the Order window (Figure 1).Figure 1There are several methods that can be used to open the Order window:You can press F9 hot key.You can right-click the chart of the currency you want to Buy/Sell, and then chooseNew Order from the contextual menu (Figure 2).You can right-click the Market Watch window on the currency you want to Buy/Sell,25

and then choose New Order from the context menu (Figure 3). Or, you can doubleclick the currency.Figure 2Figure 3Step 3:Now, in the Order window (Figure 1), you see two buttons: the Sell and the Buybuttons. You need to decide whether you want to Sell or Buy the currency, and clickthe appropriate button.In the Buy order, the ASK price is used to open the order, and in the Sell order, the Bidprice is used to open the order.As you can see in Figure 1, the New Order window allows you to set these options:26

Symbol list: This provides a drop down list of all the currencies pair that you can useto open the New Order.Volume list: This provides a drop down list of predefined volumes that you can choosefrom for the New Order.Note: Volume refers to the Lots value.Stop Loss combo: This is a combo box with up and down arrows that enables you toset the Stop Loss level for the New Order. Use the up and down arrows or write thevalue of the Stop Loss in the text box. Setting the Stop Loss level is optional.Take Profit combo: This is a combo box with up and down arrows that enables you toset the Take Profit level for the New Order. Use the up and down arrows or write thevalue of the Take Profit in the text box. Setting the Take Profit level is optional.Comment field: Enter the comment text you want to assign to the New Order.Entering text in the Comment field is optional for the New Order.Type list: You can choose from one of these two options:Instant Execution;Pending Order.You have to choose Instant Execution because you want to make a Buy/Sell instantly.Sell button: Click this button if you want to open a Sell order. Clicking the Sell buttonwill close the New Order window and send the instructions to the broker.Buy button: Click this button if you want to open a Buy order. Clicking the Buy buttonwill close the New Order window and send the instructions to the broker.Enable maximum deviation from quoted price option: Enable this option if yourserver uses price deviation. Enabling this option will activate the list of Pips where youcan select a value for the maximum deviation.Maximum deviation list: Select the maximum deviation pips value.I chose to buy the EURUSD, so I clicked the Buy button, and this was the result (Figure4).Clicking OK will place the order by sending it to the broker. You can watch your profitsor losses in the terminal window as shown in figure 5.27

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First session trading Forex – Part 1Today, and in these series of articles, we are going to take the Forex newcomers bythe hand and guide them to a better understanding of the fundamentals of the Forex.The trading dream!All of us know that the shortest, and maybe the only way to money is trading.We have an imaginary character called Mr. X.Mr. X wants to trade in cars. He wants to buy cars, and sell them when the priceincreases.Mr. X has a big problem. To start his trading, he needs capital. Mr. X has 1000USD, andthe price of the car he wants to trade in is 10000USD.Mr. X is confident that if he has the 10000USD, he can sell the car for 12000USD andmake 2000USD net profit.No one wants to lend Mr. X the capital to start his trading. And, no car company willagree to lend him the car.Mr. X’s problem with capital is the same problem being faced by people around theworld, and it’s killing their trading dream.The good news is that you can trade without a capital.Mr. X can buy the car with his small capital. And, when it sells, he can take the2000USD profit for himself! Yes, this is possible with Margin Basis Trading!Trading in margin basis:With this system, you don’t have to pay the whole price of the goods, but you can paya deposit. And, when you sell the goods, you take the net profit for yourself, or youbear the loss.Mr. X can buy the 10000USD car with his 1000USD deposit, with the aid of margin basistrading. When he sells the car for 120000USD, he can take the profit and return the9000USD to the company who sold him the car with his 1000USD deposit.However, the company who sells the car to Mr. X for his 1000USD deposit has acondition.Its condition is that Mr. X will not possess the car, but the company will hold it forhim. When Mr. X finds a customer to buy the car, the company will sell it to thecustomer, taking the 9000USD, or the remaining price of the car (10000USD), and giveMr. X the profit.Mr. X agreed with pleasure!With the trading in margin basis, you will not process the goods, but you can trade init while the company holds the goods for you.You take the whole profit, and you bear the whole loss.30

In our example Mr. X paid 1000USD and he is searching for a buyer for the car. Say, hedidn’t find a price more than 9000USD for the car.In this case, Mr. X has made a loss of 1000USD. The Company will take the 9000USDfrom Mr. X, plus the deposit of 1000USD.Mr. X thinks if he wait for more days the price will go up again, and he can makeprofit. However, two days later, the price went down even more. The price of the carnow is 8000USD. If Mr. X sold the car at this price, he will lose and the company willlose too!!In the trading in margin basis, there’s a rule:The company couldn’t loss!The company will not wait to the day that the price of the car drops to 8000USD. Theywill ask Mr. X to sell the car at the price of 9000USD because any drop in the pricemeans the company will also lose and this cannot happen!This called a “margin call.” We will talk about it in more detail later!Now, the most important thing we need to know is how the company who sold the carto Mr. X gave him a 10000USD car for 1000USD.This is the leverage!Leverage:The company who sold the car to Mr. X gave him the ability to trade in a 10000USD carfor 1000USD capital. It had duplicated his capital 10 times and this called 1/10leverage because the company allowed Mr. X to trade 10 x his capital.If the leverage of this company was 1/100 that means Mr. X can trade in goods equalto 100000 (100 x his capital 1000).The leverage is the backbone of trading in margin basis.31

First session using Expert Advisors!Well, I have to use an Expert Advisor to automate my trade.What is the Expert Advisor?The Expert Advisor is a piece of code, or some instructions that you give toMetaTrader, written in a specific programming language called MetaQuotesProgramming Language Version 4 (abbreviated to MQL4) that is compiled to a programwhich stays in front of the terminal and automates your trades for you. It can analyzethe chart as any indicator does, as well as at specific conditions, open, modify andclose the trading orders.The Expert Advisor can do anything you can do, except one only thing, it can't do amistake!Our task today is to talk to newcomers of MetaTrader who want to know how to usethe Expert Advisors in MetaTrader.Expert Advisors format:Logically, to use the Expert Advisor, you have to have it.There are two formats of Expert Advisors that you may already have:.mq4 format:If you have the Expert Advisor in xxx.mq4 format (where the xxx is the Expert Advisorname followed by dot then the mq4 extension), then you have the source code of theExpert Advisor.Source code means you have the Expert Advisor as a piece of code, written in MQL4.You can open this file in any text editor and read it, but you can't use it in MetaTraderyet. Why?That's because, MetaTrader can't load this kind of Expert Advisors, and requires anextra step before loading it.You need to convert this Expert Advisor to another format that MetaTrader can easilyunderstand, .ex4 format.Converting .mq4 to .ex4:MetaTrader can load only the Expert Advisors which have the .ex4 extension.The ex4 files are the executable version of the mq4. (Executable means they are notin text format anymore, but they are in binary format).To convert the mq4 to ex4, you have to do the following:32

1. !--[if !supportLists]-- Open the mq4 file in the MetaEditor (Figure 1).MetaEditor is a program shipped with MetaTrader enabling you to write yourown Expert Advisors, and to convert them to ex4 format. To open MetaEditor,you can double-click the .mq4 file, or you can click the Start button, thenProgram Files (All Programs in windows XP) and search for MetaTrader menu,then choose MetaEditor (Figure 2). But, if you opened the MetaEditor from theProgram Files, you have to click File menu in MetaEditor, then Open command(Figure 3) to browse for the .mq4 file you want to convert to .ex4.Figure 1 - MetaEditorFigure 2 - Program Files33

Figure 3 - Open command2. !--[if !supportLists]-- !--[endif]-- After loading the mq4 file intoMetaTrader, go to File menu and choose Compile command (Figure 4) or hit F5.Figure 4 - Compile command3. !--[if !supportLists]-- It will produce a filename that is the same name as themq4 file, but with .ex4 file extension. This file will be created in the samepath of the .mq4.ex4 format:This is the executable version of the Expert Advisor. It's ready for use in MetaTrader,but unfortunately, you can not open it in the text editor to view the source code as itis now in binary format and not text format like the mq4 files.34

Wait! You can't load the Expert Advisor into MetaTrader yet.MetaTrader require extra step before loading the Expert Advisor, which I consider it ashortage in this great program.You have to copy the .ex4 file to the /experts folder.You will find the /experts folder in the installation folder of MetaTrader.If you not sure where this folder is located, just right click on the MetaTrader icon andselect Properties from the context menu, then click Find Target button (Figure 5).Congratulations! You can load the Expert Advisor into MetaTrader now and only now.Loading an Expert Advisor!Now, that you have the .ex4 version of the Expert Advisor, and the Expert Advisor islocated at /experts folder. You are now ready to use the Expert Advisor.You will find the name of the Expert Advisor in the MetaTrader Navigator window(Figure 6).As you can see in figure 6, the Navigator window is divided to tree of lists; the listwhich we interest in is Expert Advisors list.In this list, you will find all the Expert Advisors that are in your /experts folder and, ofcourse, which are already compiled to .ex4 format.Note: If you don't see the Navigator window in your terminal or you closed it, you canbring it back by clicking the Navigator button in the MetaTrader toolbar (Figure 7),just by clicking the View menu, and choosing Navigator or simply hitting the CTRL Nhotkeys.To load the Expert Advisor from the navigator window, you can do one of two things:1. !--[if !supportLists]-- Drag the Expert Advisor to the chart you want it toautomate. Dragging means selecting the Expert Advisor from the Navigatorwindow, and holding the left button of the mouse while moving the mouse tothe chart, then releasing the left button on the chart.2. !--[if !supportLists]-- Double-click the Expert Advisor you want to attach tothe chart. But, be sure you have activated the chart you want to work with.Activating the chart means simply clicking it.When you load the Expert Advisor to the chart, you will be prompted with the ExpertAdvisor input windows (Figure 8).In this window, you can input the required data to the Expert Advisor. For example:Take Profit value, Stop Loss value and Lots value.35

Note: You will get the details of all the inputs of every Expert Advisor from thecreator of the Expert Advisor, or from the forum you downloaded the Expert Advisorfrom.You can change the inputs of the Expert Advisor, or you can leave the default valuesyou see in the input window.After setting the inputs of the Expert Advisor, you need to click OK.If you are a lucky person, you will see the name of the Expert Advisor on the rightupper corner of the chart with a fascinating smile beside it (Figure 9).If you didn't find this smile icon, it means that the Expert Advisor is not enabled!Enabling the Expert Advisor:You have to tell MetaTrader to use Expert Advisor to automate your trade by enablingthe Expert Advisor.From the toolbar of the MetaTrader, you will find Expert Advisors check button (Figure10). Check button means you can click it to enable the Expert Advisors, and goes topressed figure, and when you click it again; it disables the Expert Advisor and goes toun-pressed figure (Figure 11).Note: When you disable the Expert Advisor the smile icon goes to "x" icon (Figure 12).36

First session using Indicators!Today we are going to study how to use Indicators in MetaTrader platform.What is Indicator!The indicator is a program written in MQL4, which mathematically manipulates theprices and draws lines on the chart.The Indicators differ from the Expert Advisor in that:1. The Indicators draw lines on the chart, while the Expert Advisors cannot.2. The Expert Advisors can Auto-Trade, while the Indicators cannot.Note: The lines that Indicators can draw are the buffers lines. But the Study Lines (ex:vertical lines, horizontal lines, Arrows and Shapes etc) could be drawn from theIndicator and from the Expert Advisors.How to load indicator on the chart:There are two kinds of MetaTrader indicators:Built-in Indicators set:This set of indicators is shipped with MetaTrader, and is considered the standardindicators. They are for use only, and cannot be opened for viewing and/or modifyingtheir source code. You can access these indicators from the Navigator window Indicators list (Figure 1).Figure 1 - Navigator window - Indicators list37

Custom Indicators:These are the indicators which located at experts/indicators folder. Most of theseindicators are open source (came in .mq4 format then compiled to .ex4 format). Youcan open them in MetaEditor to view and/or modify their source code. They can beaccessed from the Navigator window - Custom Indicators list (Figure 2).Figure 2 - Navigator window -Custom Indicators listTo insert an indicator to the chart, you must first activate the chart by clicking it.Then, go to the Navigator window to choose the indicator you want to insert andright-click on it. You'll get a sub-menu like the one showed in Figure 3.From this menu, you have to choose "Attach to a chart" command.Figure 3 - Indicators sub-menuYou'll be prompted with the Indicator Parameters window (Figure 4) to set theindicator parameters. Clicking OK button in the Indicator Parameters window willattach the indicator to the chart.38

Figure 4 - Indicator Parameters windowNote: You can simply double-click the indicator name in the Navigator window to openthe Indicator Parameters window.Note: In the Insert menu, you will find Indicators sub-menu (Figure 5), where you canfind all the built-in indicators grouped in categories (ex: Trends, Oscillators andVolumes), as well as all the Custom Indicator located in the Custom sub-menu. Clickingthe indicator name from this menu will open the Indicator Parameters window.Figure 5 - Insert - Indicators menu39

First session -Using Scripts!Today we are going to study the use Scripts in MetaTrader. Let’s first understand whatthe Script is.What is the Script?The Script is a program written in MQL4. It’s very much like the Expert Advisor in thatit has the ability to open, close and modify trades. However, there are twodifferences between the Script and the Expert Advisor.The Script is executed only once when attached to a chart, while the Expert Advisorthat is attached to a chart is executed each time a new quotation arrives.Another difference is that you must enable the Experts (review the previous article tolearn how) prior to using them, while the Scripts don’t require enabling.40

Hot keysMetaTrader has a very user-friendly interface, and I think this is one of the mostimportant reasons for its success.Moreover, to make the world easier for the user, MetaTrader gives you the ability toaccess its most used functions by using hot keys!What are the hot keys?A hot key is a combination of keyboard keys that you press simultaneously to carry outa specific task. You use hot keys everyday and every minute. Just think about CTRL C.It is a hot key of copying the selected text in most of the programs that operate underMS Windows!In MetaTrader, you can press a hot key to access a task that you could, alternatively,access from MetaTrader's menu or toolbar (i.e. F9 is the hot key to open new orderwindow).We are going to list all the available hot keys of MetaTrader. But, we need to discuss avery important feature of MetaTrad

of MetaTrader 4 Client Terminal (Current version is 4.00 Build 190). Get a cup of tea if you have a slow internet connection, or a cup of water if you have DSL, while the download takes place (Figure 1). Figure 1 - Downloading MetaTrader 4 2- Installing MetaTrader 4: When the download com