When working in the field of trading and the market, you certainly can’t go away from terms such as platforms, execution, tools, and even profits. If you are still in the starting stage of your career, your initial impression is to think that this type of work is complicated and it requires thorough study in order to get a hang of it. We however wish to tell you that there is partial truth behind this notion. Someone’s success in the field of trading undoubtedly requires familiarity of the whole trading process but mastering it is no longer so tedious. With the advent of technology, doing your trades can already be done in the comfort of your home. this is made possible with the help of online trading platforms such as MT4
Explaining Metatrader 4
Metatrader is a downloadable software that has versions that are compatible with iOs, Android, and Windows software. Developed by Metaquotes Software Corporation, this trading platform is mostly utilized by forex traders. The good thing about this is that it can be downloaded for free and the trader can utilize helpful tools such as Expert Advisors. Mobile trading, Trading Signals.
Different Types of Execution for Metatrader 4
There are different types of execution that are found in the client terminal of the MT 4 platform. Explaining further, this type of terminal is commonly known as the special window or tools set. This is the area where you can find the needed tools to monitor market movements. It typically has various sections and this includes different types of execution
1. Execution by market
This is a type of order or command which gives the power to the broker to decide on the order of execution rate even without providing additional discussion or agreement with the trader. Once a trader triggers this order, it gives the signal to the brokers that they are already given the authority to make a move at this rate.
- Execution on request
If this type of execution is picked by the trader, it goes to show that the market order is performed at a rate that was previously accepted by the broker. Keep in mind that the rates for a particular market command order are based on the ones that come from the broker prior to the sending of the command. As soon as the rates coming from the brokers get into the system, the trader can either accept or reject the offer.
- Instant Execution
This type of action for the MetaTrader platform provides a chance for the broker to accept or set a requote rate for the prescribed rate. This prescribed rate normally comes from the traders or clients via the terminal.
Familiarity on the various types of execution will help a trader to understand how the Metatrader 4 platform works to trade forex. These various types of executions embody the actions which the trader wishes to do through the platform or the broker.