Okay, so by now you have had the opportunity to download your platform. This video is for those of you that have downloaded the MT four platform. And what I'm going to do is just a demonstration of the platform, there's a rad about 10 things that I want to go through just to get you set up. So your charts look similar to what you've been experiencing throughout the course. And you're fully confident with knowing how to execute the trade, place your stop and put your target on and also to close a position out. So we're going to go through a few elements, which I hope will bring you fully up to speed and give you that all important confidence to use the platform for live trading.

So first and foremost is the color scheme. So to get your color scheme, linked and in sync with what you're seeing here, so all you need to do is right click on the chart, and you've got a box here where you'll go down to properties This will then bring up all of the options that you can select from. So first and foremost is the background, I've got that as white, the foreground being black, I've got the grid as none, because I just personally don't like the grid, the bar up and the bar down, which is the wick of the candle is black. The blue candle is green, the bear candle is red, and these other elements here I'm not really interested in. So if you want your charts to look very similar to mine, then all you need to do is go to the drop down box and make sure that each of these colors that you see here matches those on your own when you click on OK, what it will do then it will update your chart with the new color scheme.

Now if you then want to save that template, so you can apply it to other charts. It's very, very easy. You right click, again, the box appears go to template, and go to Save Template and this will then give you the ability to save Your template and you can give it any name you want. Put it under your own name, I've called mine TF my initials. So whenever you open a new chart and it's not white, like this one here, it's very, very easy to then update with your color scheme. So with this black background, I want to change it to my my color scheme.

So I'm going to right click, I'm then going to go to template instead of Save Template, I'm going to go down to where I see my template, which is TF. I'm going to click on that and it's going to revert back to the color scheme that I prefer. So a very, very quick and efficient way to not only save a template to then add it to other charts, which don't have your color scheme. Now in terms of changing the currency pair, so obviously one of the things you're going to be doing is in your trade plan, you're going to be identifying currency pairs that you want to trade. So if you haven't got the currency pair you want to trade it's very easy to do that you just drag and drop. So on the left hand side, you'll see all of the currencies.

That we can trade. If you've got a trade plan that says I want to trade euro us, all you need to do is left click and hold down, drag it onto the chart. And you'll notice that now we are seeing the Euro was hourly timeframe. So I've now got the currency pair that I want to trade in front of me, I'm ready to click the button and enter the trade. So that's how you drag and drop a currency pair to make sure it aligns with the currency pair, you want to trade a sanity check to make sure you're looking at the right currency pair is the top left of the chart just here, where you'll see that confirmation of the currency pair that you're currently observing. Now in terms of the timeframes that you trade off, the good thing about news based trading is you don't really need to worry too much about the timeframe you're trading off.

That's why I haven't really given you a timeframe to trade off. I personally use the hourly chart, just because I like the hourly chart. It's not too fast moving but I can still see a more intimate view of the price action. So the hourly chart is absolutely Fine, how do you select the hourly chart is this little, this little box here where you've got all the different timeframes minute, one minute, five minute 15, etc. If you click on h1, it means that each of these candles red and green candles represents the movement of the price or the exchange rate over an hour. So that's how you select the hourly timeframe really, really easy.

Okay, so in terms of executing the trade, you'll notice I've got a little box top left which is giving me the current prices the best price to sell out, and the best price to buy it and the difference between those two prices is the current spread. Now this is what is called one click trading and I prefer one click trading because we know that speed of execution is massively massively important. So I want to get into the trades fast so I use one click trading. So how you get that onto your charts is again you right click on the chart, and you will select this little item here it says one click trading however, do be Little bit cautious because if you do click on it, you are going to be going into a trade. So just be cautious of that. However, it does prove to be very, very useful when you're trading the news because you want to get into the market efficiently and effectively.

So that is your one click trading very easy to add to your charts. Now one of the things we do before we execute a trade is always work out our risk management. If you haven't gone through the risk management section yet, please do that. So you know how to calculate your trade size. But once you've done that, you'll know how much you want to take on a trade. And it's very easy to do, all you got to do is copy and paste that figure from the online calculator that works out for you.

And you're going to paste it into this box here. So for example, this is saying that I'm currently going to trade at one lot on this position size. So I'm happy with that. If you've got a different figure to that you need to change that because it will obviously when you first log into your platform, it will default to a certain number that number might be different to the trade size you want to put on a trade. So you got to make sure that you're always checking that trade size before you go into a trade. So you don't want to be putting too much risk on a trade or too little risk on a trade.

So that's how you put your your trade size just by literally deleting the current reading and putting in your most up to date reading from your online calculator, which you'll find more information on in the risk management section. Now in terms of how to execute, I'm going to show you here by just simply going into the market. So again, you'll have determined the direction you want to go in you're either a buyer of euros or you're a seller of euros, so I'm going to buy euros again, not taking a real trade here, I'm just showing you the execution procedure. Obviously when you're going to take a real trade, you'll have done all your work up front, you'll have built your trading plan or your trading idea. And then if the news comes out to support that trading idea, you'll know exactly what you need to do.

So it's a matter of having your finger on the button waiting for the news. As soon as you hear that news and it comes In line with what you want, you would simply click on the direction. Now, I can see here that my order levels or my entry level is not visible. So I want to find that visible. So how do I do that? So I go to tools, and I go to options.

And I go to show trade levels when I click on OK, now it's show me where I entered this particular trade. So that green dotted line is where I entered the trade. Now as soon as we get into the trade, what are we thinking we're thinking, I need to put my stop loss on. So putting your stop loss on is very, very easy with the MT four platform, all you'll do is go to your entry and as it says there drag to modify. So I'm going to hold my left button down and I'm going to drag down because if we're buying our stop loss goes underneath, and I'm going to drag it to the 80 pips that I need it to go down to and as you can see here It was giving me a reading. If you look at the left hand side just over here can you see that it's giving me a reading in pips just here, so 7172 73 I go and align it with 80 pips once it's in line with 80 pips, I release my left button and that has put my stop loss on to my position, we do exactly the same thing for our take profit, we go back to the entry order, and instead of going down, we hold our left cursor down, and we drag to the upside because remember, with a buy trade, we want our take profit to be above, same thing applies.

Notice that as we go up, the PIP amount is increasing. So I want to go all the way up until I get to 80 pips which is roughly there, I release and it is put my take profit on at the same time as my stop loss. So my stop loss goes here 80 pips below my entry, and my target price goes 80 pips above obviously if it was a sell trade, it'd be the other way round, but as you can see the day Distance between my entry and my target and from my entry to my stop loss is equidistance. So, you'll know from going through your risk management section in due course that we go for a one to one. So we want to see an equidistance an equidistant distance between our entry and our take profit on our entry and stop loss. So I'm comfortable with that now, I can leave the trade to do its thing.

And one of the things we also need to be aware of is obviously the management of the trade so if this trade goes 40 pips I halfway to my profit objective, I want to start moving my stop loss to break even now, obviously, in this particular example, I can't do that because it's not gone 40 pips but in order to move your stop loss to break even again, it's really really easy. So the trades gone 40 pips, you want to move your stop to break even, all you do is you drag again, and you take it all the way up to break even just above breakeven, because remember, we want to make that one PIP just to cover our trends. Action costs. So I'm going to leave it where it was. But that's how you trail your stop as part of your management on the trade.

What about if you use the other management technique which after an hour, the trade hasn't gone 40 pips, and it hasn't stopped you out. It's not done as you expected. Well, really, we want to cut the trade off. If that is the case, how do you close a trade manually is very, very easy. You'll notice that down here, I have the live trade ticket. So this is showing me the trade that I've just taken on euro Ozzy, if I want to close it after now, because it hasn't done as expected because that's our management technique number two, all you need to do is click on the X and it will delete that position it will close it for whatever the p&l is at the current time.

So we're currently minus two pips or minus $19. So if I clicked on the X, that would be the last I that I've taken on the trade but remember, it's good to keep our losses small and to let our our winners generates us some larger returns to cover those losses. So a small loss is much, much better than the full 80 PIP loss. So all you do is click on the X, and that trade has now been deleted. So there are 10 items that I've just gone through. All very quick, all very effective.

Hopefully this video is brought you up to speed, the best way to really cement these learnings is just to have a play around you may even want to just open a demo account. If you've got a Live account, open a demo account, just have a play around where you can play, play some trades, take them off, trail your stops, just practice, practice, practice and become very, very competent with placing your trades because that is critical. A critical part of your success is being able to efficiently get into the trade execute as quickly as possible. Put your stop loss on put your target on and then obviously manage the trade once you're in it. So I'm going to wrap up there but again, as always, if there are any questions regarding the platform, then either contact the support at FX Pro, and they'll be able to help you with any technical questions.

Or you can contact me at Tom at springboard your trading.com and I'll catch you on the next video.