MT5 Software - MT5 Platforms - MT5 Softwares
MT5 Charts - MT5 Platform Trading & Orders
If you want to learn how to set-up MT5 platform this lesson explains the step-by-step lesson on how to setup MetaTrader 5 for beginners with examples - Stock Indices Get to Know Your MT5 Software - Get to Know Your MetaTrader 5 Software.
The following example below shows the main MT5 inter-face. As a beginner trader trying to learn how to execute orders in online trading market, the main stock indices tool for trading the market is MetaTrader 5 software software. This is the software which you'll connect to your broker with & execute transactions & monitor your trading equity balance.
The MT5 platform for trading stock indices is offered for free by online brokers. This MetaTrader 5 looks like the examples below:
Learn MT5 Platform Software
Main Areas of this MT5 platform as illustrated above are:
- Navigation Menus
- ToolBars
- Chart Window
- Navigator
- Market Watch
- Terminal
- Connection Bars
For this MetaTrader 5 Setup guide we shall look at a brief introduction for each of these:
1. MetaTrader 5 Navigation Menus Get to Know Your MT5 Software
The MT5 navigating menus are:
- File Menu
- View Menu
- Insert Menu
- Charts Tab
- Tools Tab
- Window Menu
- Help Menu
These MT5 menus are the main navigating menus that can be used to navigate the MT5 software. As a beginner trader you can begin by just pressing on any of these MetaTrader 5 platform navigation menus to accustom yourself with the various buttons that are grouped as submenus within these navigation menus.
The MT5 software navigating menus will be described & covered in details in the next MT5 setup guides about navigation menus - Get to Know Your MetaTrader 5 Software.
2. MT5 Tool Bars MetaTrader 5 Setup
The MT5 toolbars are used to manipulate charts, either by setting indicators, line studies, change chart timeframes and load an MT4 template from a listing of saved templates on the MT5 software.
The MT5 tool bars will be discussed on other MetaTrader 5 setup guides which will outline each button key on this tool-bar & how to add & customize these MetaTrader 5 tool-bars - Stock Indices MT5 Software Setup Guide.
3. MetaTrader 5 Chart Panel MetaTrader 5 Setup
MetaTrader 5 Chart Window is the main area where charts are portrayed and one can analyze the trend direction of a chart whether up/down, place indicators for technical analysis & even place trade orders from these trade charts - Get to Know Your MT5 Software.
5. MT5 Navigator MetaTrader 5 Setup
MetaTrader 5 Navigator will contain information about accounts, whether practice trade account or live account, this window also will have a listing of all the MT5 indicators as well as Expert Advisors and scripts.
One can choose which MT5 account to sign in by expanding the Trading Accounts menu, choose a chart technical indicator by expanding MetaTrader 5 indicator menu or choose an Automated Expert Advisor by expanding MetaTrader 5 Automated Expert Advisor menu - Get to Know Your MetaTrader 5 Software.
5. MT5 Market Watch MetaTrader 5 Setup
MetaTrader 5 Market watch is used to show streaming quotes for trading quotes. This can listing as many symbols that are provided by your broker or a few selected by the trader. To save inter-net band width, right-click inside the marketwatch window & choose "Hide All", to hide the currencies that you are not transacting & save on inter-net band width.
6. MT5 Terminal MT5 Setup
This is panel that is like the bank account trade area for your stock trade transactions, on this panel you can view your equity balance, profit and losses statement, equity, margin used and also generate a copy of all your stock trade transactions history.
This will also list all open trades & calculate all the profit and loss in real-time as the currencies move upward or down.
7. MT5 Connection Bar MetaTrader 5 Setup
Red bars are for no connection, green bars show that there's connection to the servers & trade orders can be set. These MetaTrader 5 connection bars should always be green when one logged in to their demo trade account or live account.
The main levels form the MT5 Platform Setup tutorial and will be the main levels to be covered in detail in next learn MT5 platform courses. For now it is best to download MetaTrader 5 platform and enlighten yourself with the MetaTrader 5 trading software workspace.
Why MT5 Stock Platform is Required for Placing Transactions with Online Brokers
MT5 platform is the platform which's used to access the market & interpret these currencies using analysis. There are various reasons why one requires to use a good platform. A good stocks software can determine if a as a indices trader you earn profit or not.
So why does a stock indices trader need a good platform:
To connect to the Server:
To place a order when trading online a trader needs to use a software that will connect to the trading servers of their broker and allow them to open and close orders. Good softwares will connect with ease to the online brokers' servers & allow traders to place orders at any time from their PC computer.
To analyze charts and currencies using trading analysis
To open a buy/sell order one needs to first interpret direction of a quote. This is why all good platforms provide technical analysis tools such as price charts, indicators & various different timeframes from which trader can analyze price moves using the chart timeframes of their choice.
MetaTrader 5 Software Setup
From above MT5 software inter-face, summary of all information required by a trader is provided on this MT5 interface
- Connection - connection to the online broker servers
- Charts - price charts that display prices
- Toolbars - tool bars to add tools & analysis technical indicators
- Market Watch - for displaying available financial instruments
- Data window - provides trading account info & other indicator data
- Exchange rates - shows prevailing market price of a trading symbol
- Menu bar - Shows all menu items on MetaTrader 5 platform
MetaTrader 5 Software Setup
Learn More Tutorials & Courses:
- How to Add EU 50 in MT5 iPad Trade App
- How to Find Learn Training Courses for Beginner Traders Tutorial Course
- How to Analyze a Upwards Trend on Trading Charts
- Types of Stock Indices Charts & How to Analyze Stock Index Trading Charts
- Where Can You Find SPAIN35 on MT4 Platform?
- How Can I Choose a Stock Indices MA to Trade Indices with?
- Calculate Value of 1 Pips for SMI 20 Indices
- How Can I Analyze Trend Analysis in Trading Chart Technical Analysis?
- What's Pips Value for FTSE MIB 40 Index?
- How to Use MetaTrader 4 Stock Index Platform Software for Beginner Traders
