Introduction to GT247’s New MetaTrader 5 Platform

by | Apr 27, 2018 | GT247 | 0 comments

Home — Forex Trading — Forex Brokers — GT247 — Introduction to GT247’s New MetaTrader 5 Platform

with Martin Harris.

Good day clients of GT 247 calm and welcome to metatrader5 in this webinar

I’m going to be taking you through our new operating platform. If you’re still looking to sign up and download the platform head over to the purple group YouTube page where we’ve got a playlist of Metatrader videos that will help if you need assistance with initial stages of registration.

Our YouTube page also has a list of short videos that cover placing trades using the charts and other topics that I’m going to go over today.

So let’s get started MT5 is the more advanced successor to MT4 it’s not backwards compatible so if you have any custom indicators on mt4 that you’d like to move across then they need to be recoded for mt5.

Starting off with how the system looks I’m currently using my colleague Brian’s Metatrader system and he’s got a few trades on the go already we can see those down here. These are some demo trades just to show everyone how the platform works.

Great so let’s take a tour you’ve already registered your accounts on GT247.com. You’ve been given an account number. You’ve downloaded the platform and you’re now logged in and so this is typically the screen that you’re going to see once you’ve set that all up.

What I’m going to go through today is a brief overview of the four main windows inside of the platform, how to do some trades, how to place orders and then I’ll answer some questions.

So the four main windows we’ve got the market watch, the navigator, the toolbox at the bottom and then our charts that are in the center over here.

So starting off with the navigator the navigator allows for switching between accounts and provides functions for running trading robots and indicators.

It’s got a list of applications that you can purchase from the MT market and you download it from the codebase.

From the navigator you’re going to be able to toggle between your live and your demo account and as we can see the live account has got a gold icon and the demo account has got a green icon.

So simply to toggle between those accounts.

I will just double-click on the account that I want to log into and click OK. Now I’m just taking a look down and see what else is in here we’ve got our indicators. Most traders will know as a study if you were using the previous system with GT247 but on metatrader, they call it an indicator.

Some very popular ones that you’ll know of MACD
really substring Index RSI and the
stochastic oscillator and when I want to
use it use those all I’m going to do is
I’m going to bring up a chart that I
like or the symbol that I want to use
I’m going to grab it and I’m going to
introduce it to the chart and I’ll show
you more on that later so that’s the
indicators then we’ve got expert
advisors.

expert advisors or mechanical trading systems that allow complete orbit emission of analytical and trading activities so it allows you to perform a prompt technical analysis of price data and place a trade without having to do any manual work.

Then just taking a look at our favourites what we can do with our favourites is it allows us to add our favorite indicators as the name suggests allows you to add the indicators add scripts accounts and experts onto one list so you can easily access them.

Next I want to take a look at the market watch. So previous traders using the gt247 system will know the market watch as the product Navigator.

so right now I’ve got four instruments on my market watch gold Naspers the VIX and pound dollar. there’s a few ways that I

can introduce new instruments to my

market watch simplest way is just to

click and add them so if I want to bring

up a stock such as Mt

I can start by typing in MT in and

already MGM just pops up pre-populated

and I can select it and introduce it to

my market watch the same goes for an

index so let’s try the footsie introduce

that and a Forex pair maybe like the

Euro Dollar

great so I can really simply introduce

new symbols or products or instruments

to my market watch through a click to

add system another thing I can do is on

the top of the screen in one of the

toolbars here I’ve got my show symbol

list and I can also access that by

clicking ctrl u together and so right

away I bring up a window that has all of

the symbols located inside of it so you

can see on the left hand side yeah I’ve

got international markets and local

markets and then I can go into the

subcategories if for example I want to

look at just local equity and I want to

introduce all of the equities if I want

so I can easily search between them

select press shift go down and I can

grab all of the local equities once done

I click show symbol and ok and now

you’ll see in my market watch I’ve

introduced all of the local equities

alright so they are all there my market

watch also has a time stamp on it and

you’ll notice that the time stamp is for

GMT so it’s going to be two hours behind

the reason why it’s done that way so

there’s uniformity across all the

markets with regards to the time and

numbers coming through the next thing

I’m going to take a look at is the tool

box at the bottom of the page this is

going to be the most important thing for

you whilst trading I just want to

quickly hide the

toss ball at the bottom of my screen

give me a moment

okay great so I’ve just moved my toolbar

at the bottom so we’re taking a look at

the toolbox now

now you’ll see you’ve got trade that

shows you your open trades as well as

pending orders currently I don’t have

any pending orders shows you my exposure

to date our trade history news that we

can feed through to you I’m a trader

mailbox it allows me to log in directly

to the gt2 4:7 website I couldn’t see

the market and see the type of

indicators and experts that I can buy

through the codebase

I can set alerts I can introduce signals

custom signals that we can buy ourselves

or create ourselves and this is

something that Brian made called it the

max profit maker hasn’t started using it

yet but it’s just based on a demo

account then you’ve got the code base

which has got hundreds and hundreds of

pages of information on different types

of indicators and expert advisors you’ve

got the experts that you have introduced

so in this case Brian’s introduced a

traditional MACD and then you’ve got

your journal shows you what’s happening

on your system if you’re logged in and

so on

you

next I’m going to take a look at the

charts so by default you can have four

charts set up on Metatrader that’s all

accessed through this button on the

toolbar if you only are interested in

looking at one of those charts I can

maximize us so I’ve got my Naspers chart

quite easily be able to delete

indicators and so on and if I want all

my charts back up simply press that

button again I minimized the gold chart

so it’s sitting down here but I can

bring it up and bring four charts back

together and then if I just wanted to

see two charts I do outside yeah I’ve

got the VIX pound dollar and next door

to each other quite an interesting thing

and something that I personally like is

that some you can save templates on the

trance so different styles can be

accessed through the property so if I

open up this gold chart it’s currently a

trade going on on the chart maybe a

little bit too busy let’s take a look at

the there’s palm dollar charts so no

trades going on if you want to introduce

a different style different color scheme

simply right click on the chart

scroll down to properties and here’s

where you’ll be able to introduce a grid

take out the grid change the background

colors and so on so you can also

customize the chart instead of having to

press right click instead of having to

right-click and then press properties

you can also just press f8 and it’s

going to be send with salmon that’s a

context menu to customize your chart

when you are satisfied with the style of

chart you would want to save that as a

template so you can have multiple

different styles that you want to use

but somebody to save as a template right

click move down to templates click Save

template and if there’s a particular

style that you like to use simply save

it as

default I’ve already got this saved as

default but you would just type and

default and save it and that then every

new chart that you open will have that

same style I also like to use drawing

tools on the charts it’s one of the

really good feature about mp5 it’s got a

great set of drawing tools in this tool

bar I can see all my drawing tools and

I’ve already introduced to custom

drawing tools I’ve got a mini chart as

well as the arrowed line so the way I

got that is I simply right clicked on

this toolbar click customize and here

you can see all the different drawing

tools that you can introduce to your

toolbar and so if you want to introduce

this triangle simply click insert I’m

gonna take it off just want to show

everyone this mini chart that I inserted

earlier quite cool with the mini chance

I can whilst looking at a main chart

here on the palm dollar in a timeframe

set up for to put it as one hour I can

now introduce a mini chart and I can

change the time maybe look at a 5 minute

chart right there on the palm dollar I

can put that anywhere on the screen that

I like and it just gives me a clear

indication where I can then view the

one-hour chart and the 5-minute chart at

the same time or I could then put in a

gold chart and a dollar yen shot at the

same time now when it comes to

introducing indicators what I would

simply do is move over to the Navigator

find the indicator that I want to use

pinch it and drop it down onto my new

chart and there it goes just going to

remove that very quickly deleting

indicators window what I also like to

show you is that you can also create

hotkeys for indicators that you use

frequently so to do this all that I need

to do is right-click on the indicator

that I want to use

click set hotkey I’ll then scroll to

that specific indicator and then I’m

going to select the key that I want to

use then to use the hotkey all I’m going

to do this press alt and the key that

I’ve chosen now I can try and do that

and it’s going to bring up my relative

strength index straight away and I can

introduce it to the chart just going to

remove that quicken if you want to

introduce other indicators you can also

go through to mql5 com where they’ve got

74 pages of indicators for mt5 from the

code base or you can just head over to

the code base under the expert advisors

or scripts

you

great so that’s done now I’m going to

take a look at executing trades and

orders on the platform so there’s

multiple ways that you can open a

position on Metatrader the simplest way

that I must start off with is the click

to trade on the charts so you’ll notice

there’s some icons on the top left of

your charts you can open that up and

automatically bring up a quick by quick

sale trading screen you can change your

volume or your risk and so previously

with gt2 for 7 we would have known this

as the risk non meta trader we know it

as the volume something to be aware of

is that if I’m trading something like a

equity cfd just going to introduce that

onto the chart so here I’ve got Mtn

previous users of EQ trader will be

familiar with trading in shares

however users of future trader who are

used to doing many CFDs are used to

trading in rands per point so in this

case the risk or the volume is based in

shares when trading equities and trading

rands per point when trading commodities

currencies and indices so right now if I

put up a volume of 1 I’m only looking to

buy or sell one share in MTN so quite

easily I could change that number put 2

100 shares I’m just going to click buy

let me actually move it to 10 then on

Bryan’s have too large of exposure to in

10 so I’ve hit by and automatically you

can see I’ve introduced MTN now to my

platform and I can see the profit are

making there is no automatic stop-loss

we’ll take profit introduced and so I

would now need to go and modify that

position to introduce a stop loss or

take profits so I’m going to right click

names in and then going to click modify

and this is where I can change my stop

loss and take profit what’s quite

exciting with metatrader5 is that

although you can then go ahead and put

in a manual stop loss level so currently

we are at 130 Rand 16 cents was the

buyer I might want to look to get art

anywhere below 120 grand

another thing I could do is simply

change the number of points between the

market and where my stop losses and so I

could go and put in a two thousand point

stop loss or a 500 point stop loss and

the same applies for the tape profit I

could go in either into a manual take

profits or any I can put in the number

of points I’m looking to make and put in

there 1000 points hit modify and

straight away my MCN trade now has the

stop loss and the take profit level next

thing I can look at doing is putting in

a full trade ticket so if I’m placing it

on Mtn find him 10 right click click new

order and leave it on market execution

I’d then be able to put in my 10 shares

on Mtn and currently I already got that

stop loss and take profit set up but I

could change it I can even leave a

comment and so in the comments I can

just put in here webinar and I’m gonna

hit by the markets great so what I’ve

done now is I’m actually exposed to 20

shares at the moment on future trader

there would be the equivalent of 20

cents per point and my comment webinar

shows up on the right hand side the more

complicated thing to use on meta trader

is the order system it is slightly

different to what we previously did with

gt247

so the first thing to do is to find my

instrument that I’d like to trade or

place an order on right click click in

the order and switch from market

execution to pending order now orders on

Metatrader vs. gt2 for seven so you’ll

see these order types and there’s a

whole lot of them there’s a limit order

there’s a stop order and there’s a stop

limit order so I’m going to go over this

buy limit so the buy limit is identical

to our buy order that you were used to

on gt2 for seven it’s essentially a

trade request to buy the ask price that

is equal to or less than specified in

the order so the current price level is

higher than the value specified in the

order usually this order is then going

to be placed in anticipation of the

security price falling below a level and

then increasing so it’s really to try

and buy a stock or buy an instrument at

a bargain price

the buy stop this is identical to our

break order previously on the gt2 for

seven system so it’s a trade order to

buy the ask price when it’s equal to or

greater than the specified price and the

order so the current price level will be

lower than the value specified in order

and the order is typically placed in

anticipation the price is going to reach

a certain level in the future then the

sell limit this is just a simple sell

order and I so trade order to sell at

the bid price which is equal to or

greater than the one specified in order

so if the current price level is lower

than the value specified in the order

usually this order would be placed in

anticipation that the security price is

going to increase to a certain level and

then fall back down and you want to try

and short it

then we’ve got the soul stop now this is

essentially a selling break order so

it’s really a trade to sell at the bid

price when at a particular price is

equal to or less than the one specified

in the order so usually this type of

order is placed in anticipation of a

security price reaching a certain level

and then continuing to fall so let’s sum

place those those stop losses and take

profits on our empty end we’ve really

done it and we can actually visually see

where our stop losses and we are take

profit as we’re actually getting fairly

close to two that’s actually two side

entry it’s not my take profit label let

me just adjust and I’ll take profit

label so I can see it on the screen at

the same time I’m still not there that’s

because I changed on the wrong

instrument apologies okay great

so if you’re looking at the chart now

you can see this line up at the top

that’s my take profit level and this

line right at the bottom is my stop loss

I can then pinch and grab that line to

change where it’s located

that’s not my new stop loss level and

that’s why I mean you take profit level

you

the other type of order we have is a buy

stop limit if I open up Mt Andrew game

in the order pending order by stop

limits and sell stop limit so this is

quite different and it’s like nothing

that we had previously on gt2 for seven

what it does is it combines a break

order and the buy order together so

first a break order price or a higher

price has to be triggered before a buy

order at a lower price is them initiated

and the same goes for the sole order

it’s the opposite of the buy stock and

it requires a sell break order to

trigger below before a self sell order

is initiated the next thing I wanted to

quickly take a look at is volume and

really what it is is it’s the difference

between lots and amounts so where I can

find that is in our instrument

specifications so we’re going to right

click on my instrument and I’m going to

hit specification and here I can find

out everything that I want to see on

Metatrader as to do with MTN so what’s

quite important you can see the name you

can see the currency that I traded in

and I can see the margin requirements so

here I can see covert 1/2 pursuit and I

can also get the times and dates about

the trading is happening here is where I

can see my volume so I can go between 0

and 5,000 shares or the step of one

share so really what we want to know is

that with lots that’s a traditional

rents per point and the amount would be

the actual number of contracts that we

buy

if you have any questions please send

them through to us now so I can then try

and answer them before the end of the

session

you

all of the questions that we answer will

be hosted on our blog we’ll put up a FAQ

section from the questions from this

webinar as well as the answers so if you

can’t make it all the way through to the

end you’re welcome just to watch the

follow-up video or read our blog the

other thing I wanted to quickly look at

is just some shortcuts around the charts

so if I hit ctrl + f6 what it does is it

allows me to switch between my charts

really simply really quickly the other

thing I’d like to take a look at quickly

is on the X page over here so I’m just

seeing a question coming through on to

that at the end hold them for me one

moment

you

okay I’ve just been asked to place a

pending instruction so let’s do it

on gold you can see my gold chart over

here gold is really trading let’s try

something fresh

I haven’t traded anything on the S&P; 500

so I’m just going to introduce that as a

symbol go to international markets go to

index find my simpie 500 show my symbol

okay

scroll down to S&P; 500 well I can quite

simply call it up

there’s my S&P; 500 introduce the new

chart quite a gap that had formed at the

open what I’m going to do though is

place a pending instruction to go long

on S&P; 500 should it break these new

highs so I press in your order start off

on the S&P; 500 go to pending order I’m

going to have this as a break order so

I’m going to go to buy stop I’m going to

work this in at five Rand per point

I didn’t want to give a price that I

want this to trigger at so what I do go

and look at the prices in the market I

think what we’ll do

price is currently had 26:33 I’m going

to move my pending instruction to

trigger at 2680 my stop-loss is then

introduced manually and I’ll put that in

that twenty five eight three point two

five add in a comment webinar is and P

trade and I can also change the expiry

of this particular pending order can go

ahead and I can put in a price for

pretty much anything here already got my

stop-loss I think I’m going to leave the

tech profit for now now others office

put a quite a high one in it’s better to

zero zero zero

okay let’s place the order great so down

here you can see I’ve placed that buy

stop order and we’re waiting for that

2680 level to be breached first ok

that’s it for today if you do have any

more questions please don’t hesitate to

contact us my name is Martin you can

find me at M Harris at GT 247 comm M

from Martin edge for hotel a for Apple

Double R for Romeo I for India s for

sugar and gt2 for seven calm I hope that

this has helped you a lot please as I

said don’t be afraid to contact us if

you need some assistance and I hope that

you can have a profitable trading day

thank you very much

Summary
Introduction to GT247's New MetaTrader 5 Platform
Title
Introduction to GT247's New MetaTrader 5 Platform
Description

GT247 introduced the popular MT5 platform to their traders recently and created this video to demonstrate to trader's how to use it to trade the markets.

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