One of the most used trading platforms for trading forex is Metatrader 4 from MetaQuotes. MetaQuotes makes money from brokers by offering them a complete trading system. The trader can download Metatrader 4 for free either directly from MetaQuotes or from the website of his broker. There are a lot of extras you can download for free or buy on the Internet to extend the functionality of Metatrader 4 (MT4). This way you can configure MT4 to create the trading system that fits your needs and preferences.
MetaQuotes also released Metatrader 5. However, the extras you install in Metatrader 4 are not compatible with Metatrader 5, so most traders stick with MT4. There is also a programing language to create your own indicators and system extensions, which language is different for MT4 and MT5.
As MT4 is a Windows application, you need to run it on the Mac wrapped around something that can emulate the Windows environment normally needed. One solution is PlayOnMac. PlayOnMac is free software that allows you to easily install and use numerous games and software applications designed to work on Microsoft Windows®. It works very well with MT4 and is easy to install and setup. There is no need to buy a Windows license and you will be running MT4 as if it is a Mac application.
In my case, I am using several other “Windows Only” applications of which most are not working well with PlayOnMac. So, I installed Parallels in combination with Windows 7 on my MacBook Pro. Windows 8 was not supported with some of the software applications I am using, so I resided to Windows 7 instead, this being the common denominator supported by all of them. Parallels can create a separate Windows desktop that you can run to launch your Windows applications. An alternative way is to use the Parallels Coherence mode.
In Coherence mode, you can use both your Windows and Mac applications at the same time, without managing two separate desktops or rebooting. You can even load Windows applications directly form your Mac Dock or Mac desktop. In this mode, all Parallels Desktop controls, icons, and menus are hidden, except for the Parallels icon in the Mac menu bar and Windows Applications folder in the Dock.
Multiscreen Trading Workstation or Apple Spaces
Trading involves looking at a lot of different charts at more or less the same time. There are 2 ways you can create more “room” on your screen. One of them is called Apple Spaces. Apple Spaces helps reduce clutter on your desktop by allowing you to group your application windows according to the way you work and easily switch between them. Move your mouse into a corner of the screen and you can easily switch from one screen to another virtual screen. In essence, you are switching from one monitor to another with only one monitor as output.
If you don’t like switching virtual monitor screens, but really want to see all the charts in one overview on several real monitors, then you could install and link more than 1 extra monitors to your Macbook Pro. In this case the Matrix Dual or Triple Head2Go device is interesting as you can create a trading workstation using several large screen monitors around one MacBook Pro notebook.