The invention relates to a cold metal transfer welding process, in which the welding process is defined by the cyclic alternation of an arc phase and a short-circuit phase. According to the invention, during an arc phase, a welding rod is displaced towards the workpiece until it makes contact with the latter and during the short-circuit phase the welding rod displacement is reversed and the welding rod is then moved away from the workpiece. The welding current and/or the welding voltage are controlled during the arc phase in such a way that the welding rod melts, forming a droplet and that during the short-circuit phase a breaking of the short-circuit is suppressed by means of the welding current. The invention also relates to a welding installation for carrying out the welding method. The aim of the invention is to achieve optimal welding results using the smallest possible number of settings. To achieve this, a displacement frequency of the welding rod is set as a welding parameter by means of a control organ, the frequency being used to define the number of arc phases and short-circuit phases per second, and at least one additional welding parameter is set. A control unit determines, sets and controls all other welding parameters that are required to achieve the predefined displacement frequency.