How To Show Bid and Ask Price on MT4

MetaTrader 4 (MT4) is one of the most popular trading platforms used by traders to access the foreign exchange (forex) market. It is a user-friendly platform that offers various features to help traders execute trades and monitor their positions. One of the essential elements of any trading platform is the bid and ask price, which is the cornerstone of any trade. In this article, we will guide you on how to show bid and ask price on MT4.

How To Show Bid and Ask Price on MT4
How To Show Bid and Ask Price on MT4

Understanding Bid and Ask Price

Before we delve into how to show bid and ask price on MT4, it is important to understand what bid and ask price mean in forex trading. Bid price refers to the highest price a buyer is willing to pay for a particular currency pair at a given time. Conversely, ask price refers to the lowest price a seller is willing to accept for a particular currency pair at a given time.

The difference between the bid and ask price is known as the spread, and it is how forex brokers make their profit. In other words, when you open a trade, you will always start with a negative balance equal to the spread. For example, if the bid price for EUR/USD is 1.1200, and the ask price is 1.1202, the spread is 2 pips. This means that if you buy EUR/USD at 1.1202, the trade will start with a 2-pip loss.

Showing Bid and Ask Price on MT4

Now that you understand what bid and ask price mean let us guide you on how to show them on MT4. The process is simple and straightforward, and it can be done in a few easy steps.

  • Step 1: Open MT4 and go to the ‘Market Watch’ window on the left side of the platform.
  • Step 2: Right-click on the ‘Market Watch’ window, and select ‘Symbols.’
  • Step 3: Choose the currency pair you want to trade and click on the ‘Properties’ tab.
  • Step 4: In the ‘Properties’ tab, select the ‘Show’ option for ‘Bid’ and ‘Ask’ prices.
  • Step 5: Click on ‘OK’ to save the changes, and the bid and ask prices will now be displayed on the ‘Market Watch’ window.

Alternatively, you can also show bid and ask prices on MT4 by right-clicking on the chart and selecting ‘Properties.’ In the ‘Properties’ window, select the ‘Common’ tab and check the ‘Show Ask Line’ and ‘Show Bid Line’ options.


Benefits of Showing Bid and Ask Price on MT4

There are several benefits of showing bid and ask price on MT4, and here are some of them:

  1. Helps traders to make informed trading decisions: Showing bid and ask price on MT4 helps traders to understand the current market conditions and make informed trading decisions. By knowing the bid and ask price, traders can determine the spread and the potential profit or loss of a trade.
  2. Helps traders to monitor trades: Showing bid and ask price on MT4 helps traders to monitor their trades and determine whether they are profitable or not. Traders can also use the bid and ask price to set stop-loss and take-profit levels.
  3. Helps traders to compare brokers: Showing bid and ask price on MT4 helps traders to compare the spread offered by different brokers. By comparing the spread, traders can choose the broker with the lowest spread and reduce their trading costs.

Conclusion

Showing bid and ask price on MT4 is an essential aspect of forex trading. It helps traders to understand the current market conditions, make informed trading decisions, and monitor their trades. By following the simple steps outlined in this article, you can easily show bid and ask price on MT4 and take advantage of its benefits.

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