The key to using Metatrader to manage your investments is by knowing how to customize the platform’s features. Metatrader allows for many adjustments to suit your trading strategy whether you are active in Forex, futures or CFD. The following information is for currency traders using Metatrader platform.

First, you should customize the Forex currency pairs you are interested in trading. Metatrader allows you to expand or shrink the number of pairs for trade, which means that you can add or remove currency pairs in your account. Your trading strategy should be sound when choosing currency pairs, and any changes will affect your money making abilities from Forex markets positively or negatively.
You should also adjust the analysis display functions on Metatrader. The default setting is to show the latest price action for your chosen currencies. This setting can be turned on and off as you do your technical analysis of the currency movements. You may require to turn it off in order to save the report, record the results or make any other changes to your analyses.

Chart templates are also customizable such that you can view your chart in layers, volume or based on any other trading strategy. Create your own chart template if you prefer, but to do this you need to adjust the period separators, ask lines, descriptions, grid and volume, and then save the template. You can save your custom template as default such that all the charts you generate will be based on it. This feature makes your trading analysis easier on your part.

The chart itself can be adjusted to include the ask prices for your currency pairs according to your trading style and strategy. Metatrader allows you to add the ask price to any Forex pair chart you want. It will help you track the changes in the currency values and determine the best time to sell or stay your trade. The charts always come with the bid prices, but it is up to you to add the ask price onto the chart for better tracking.
Also customize your market watch window, order entry screens and account reports to reflect the decimal places used with your particular currencies. Most currencies are given up to the 5th decimal place on exchange rates, except for the Yen which is up to 3 decimal places. These are crucial in determining the number of pips that the currency has moved, which in turn affects your trading strategy and profits. You should adjust your windows and reports to reflect these differences in pips.

Metatrader has many other customizable options on the platform, so determine which settings are best used at default and which require alterations. Use your trading strategy as a guide when fine-tuning your trading platform settings.