How to start trading at the first time?

Getting Started with MT4 Trading

Learn how to start your trading journey with MetaTrader 4 platform from basic to advanced level.

Before You Start

1. Demo Account: Practice with virtual funds first

2. Platform Download: Install MT4 on your device

3. Account Verification: Complete KYC process

4. Trading Plan: Define your strategy and goals

Step 1: Platform Setup

Download and install MT4:

Windows: Download from GOFX website
Mac: Use MT4 for Mac version
Mobile: Install from App Store/Google Play
Web: Use MT4 WebTrader

1. Open MT4 platform

2. Go to File → Login

3. Enter your account credentials:

- Server: Select GOFX server

- Login: Your account number

- Password: Your trading password

Step 3: Platform Interface

#### Main Window Components:

**Market Watch**: Currency pairs and prices
**Chart Window**: Price charts and analysis
**Terminal**: Account info and trade history
**Navigator**: Expert advisors and indicators

#### Customizing Your Workspace:

Arrange windows to your preference
Save workspace layout
Add frequently used instruments
Set up multiple chart timeframes

Step 4: First Trade Execution

#### Opening a Trade:

1. Right-click on currency pair in Market Watch

2. Select "New Order"

3. Choose trade parameters:

- Volume (lot size)

- Stop Loss level

- Take Profit level

- Order type (Market/Pending)

#### Order Types:

**Market Order**: Execute immediately at current price
**Pending Orders**: Execute when price reaches specific level
**Stop Loss**: Limit potential losses
**Take Profit**: Secure profits automatically

Step 5: Risk Management

#### Position Sizing:

Never risk more than 2% per trade
Calculate position size based on stop loss
Use lot calculator for accuracy
Start with micro lots (0.01)

#### Stop Loss Placement:

Always set stop loss before entering trade
Place based on technical analysis
Avoid moving stop loss against you
Respect your trading plan

Step 6: Chart Analysis

#### Timeframes:

**M1-M5**: Scalping strategies
**M15-H1**: Day trading
**H4-D1**: Swing trading
**W1-MN**: Position trading

#### Technical Indicators:

Moving Averages (MA)
Relative Strength Index (RSI)
MACD
Bollinger Bands
Support and Resistance levels

Step 7: Trading Psychology

#### Emotional Control:

Stick to your trading plan
Don't trade based on emotions
Accept losses as part of trading
Keep a trading journal
Take breaks when needed

#### Common Mistakes to Avoid:

Overtrading
Revenge trading after losses
Not using stop losses
Risking too much per trade
Following tips without analysis

Advanced Features

#### Expert Advisors (EAs):

Automated trading systems
Backtesting capabilities
Custom indicator creation
Strategy optimization

#### Multi-Terminal:

Manage multiple accounts
Copy trading between accounts
Portfolio management
Risk monitoring

Educational Resources

Take advantage of GOFX learning materials:

Video tutorials
Trading webinars
Market analysis
Economic calendar
Trading strategies guide

Practice Makes Perfect

#### Demo Trading Tips:

Treat demo as real money
Test strategies thoroughly
Practice different market conditions
Learn from mistakes
Keep detailed records

Ready for Live Trading?

Signs you're prepared:

Consistent profitability on demo
Good risk management habits
Emotional discipline
Understanding of market analysis
Clear trading strategy

Get Support

Our team is here to help:

Live chat: 24/7 support
Email: support@gofx.com
Phone: +357 22 250 352
Video tutorials: Available in client area

Start your trading journey today with confidence and proper preparation!