The Mini Terminal is an extension of the Trade Terminal, designed for traders who want to concentrate on a specific market and which displays the same deal ticket as the Trade Terminal in the context of a specific trading chart.
Its deal ticket has the following key features:
- Simple fields for setting stop loss, take profit and trailing stop in pips
- Pop-up calculators, e.g. for working out the lot size which corresponds to a cash risk given a particular stop loss distance
- Open-position marker
- Pop-up dealing form for creating pending orders as well as market orders
- Ability to create templates for quick order entry
- Quick links for closing all positions, or all winning/losing positions
- Quick links for reversing or hedging a position
In other words, the Mini Terminal allows one-click entry for simple market orders, and two-click entry for potentially complex predefined templates. These templates can also be used in the Trade Terminal and Market Manager tools.
The latest version of the Mini Terminal includes Smart Lines technology. This lets you create sophisticated, flexible stop-losses and take-profits simply by drawing lines on your MT4 chart. You simply draw the line and then hold down the Ctrl key while clicking on it in order to turn it into a Smart Line.
The Smart Lines functionality makes possible three main additions to MT4 trading:
- Trend-line stop-losses (or take-profits)
- Multiple stops (or take-profits) for a single ticket, i.e. doing partial closes at different prices
- Time-based stops, i.e. a partial or full close when a vertical (time) line on the chart is hit
The Mini Terminal can be undocked from its trading chart into a floating window (and this can then be made always on top of other windows). Therefore, you can continue to place orders from one small window, without having the full trading platform in front of you, while looking at other information such as news on websites or a financial model in Excel.
The Mini Terminal can also undock entire charts from MT4 - it can be used to turn a single instance of MT4 into a multi-monitor platform, allowing the user to put different trading charts on different monitors.