How Does The Leading Trading Platform NAGA And MT4 Improve Your Trading?
A trading platform allows traders to access various markets and take advantage of their opportunities. For example, suppose you want to trade forex, stocks, commodities, indices, crypto, and other markets. In that case, you need a platform that allows you to interact with these markets conveniently. This means the platform should have a user interface that is concise and organized, allow you to write your own automated trading programs and personalized technical indicators, offer a higher degree of freedom, allow for back-testing strategies and allow you to export historical transactions records and capital curves. One such platform is MetaTrader4.
What Is MT4?
MetaTrade4, better known as the MT4 trading platform, is a state-of-the-art platform used and popularized by many traders and brokerages across the globe. MetaQuotes developed the MT4 software, which can be used by traders and investors to open, close, and manage market positions through a financial mediator. According to the parent company, MT4 was launched to help users trade foreign exchange (forex), futures markets, and contracts for difference (CFDs) and quickly became the industry standard. As mentioned earlier, you can use MT4 to perform advanced trading operations while also analyzing the financial markets.
Why Has MT4 Become The Leading Global Retail Trading Platform?
MT4 has a diverse offering that sets it apart from other trading platforms. For example, the platform supports three trade execution modes, as well as two market, four pending, and two stop orders, plus a trailing stop function. Additionally, there are quick trading functions that allow sending trading orders directly from the chart with just one click. On top of that, the built-in tick chart feature will give you a way to determine your perfect entry and exit points accurately.
The three trade execution modes include instant execution, execution on request, and execution by market. The first one allows orders to be executed at a price offered to the broker. The second allows trades to be executed at the price the broker provided beforehand, and the third allows orders to be executed based on broker rates without input from your side.
The platform also allows users to place different orders, including market orders, pending orders, Stop Loss and Take Profit. Market orders are made as a way to guarantee your brokerage company that you allow the buying and selling of a given security at the current price. Upon executing such an order, a trade position will instantly begin to move, tracking the various changes taking place in the financial markets. Remember to use Stop Loss and Take Profit orders alongside the market order.
The pending order gives the brokerage company of your choice the permission to buy or sell a security in the future at a predetermined price. On MT4, you will find four pending orders: Buy Limit, Buy Stop, Sell Limit, and Sell Stop.
How Can Naga And MT4 Help Many Traders Improve Their Trading?
With over 1 million users, NAGA is one of the top brokers that allow traders to interact with various markets using the MT4 trading platform. All you need is to visit the NAGA official website and create an account; then, you can download MT4 for desktop and mobile devices. One unique feature that makes using MT4 on NAGA irresistible is the Autocopy feature, allowing users to copy other proficient traders and share their success. This trading activity is synced on the user’s NAGA profile. On top of that, you get a customizable interface, over 30 technical indicators, over 30 graphing objects, 4 pending order types, and 3 order execution types.
Also, MT4 allows users to hedge their positions, which is missing in its newer version, MT5. For this reason, MT4 remains quite popular among the trading community as hedging protects your funds or assets. Think of it as insurance against bad events. It lessens the impact.