Introduction to MT4 Software Interface
The following screen-shot below shows the main MT4 software inter-face. As a beginner trying to learn how to execute orders in the online market, the main tool for transacting the market is the MetaTrader 4 software software. This MT4 software is the software which you will connect to your broker with & execute trade transactions & monitor your account balance from this MT4 platform.
The MetaTrader 4 software is provided for free through the various broker sites. This MetaTrader 4 software resembles the examples explained below:
Main Areas of this MT4 platform as displayed above are:
- MetaTrader 4 Navigation Menus
- Toolbars
- MT4 Chart Window
- MT4 Navigator Window Panel
- MT4 Market Watch Window
- MT4 Terminal
- MT4 Connection Bars
For this MT4 guide we shall look at a brief introduction for each of these learn MetaTrader 4 platform:
1. Navigation Menus
The MT4 navigation menus are:
- File Menu
- View Menu
- Insert Menu
- Charts Menu
- Tools Menu
- Window Menu
- Help Menu
These are the main MT4 navigation menus which can be used to navigate the MetaTrader 4 platform. As a beginner you can start by clicking any of these MT4 navigation menus so as to familiarize yourself with the various MetaTrader 4 buttons which are arranged as MetaTrader 4 sub-menus within these MT4 navigation menus.
The MT4 navigation menus will be described and covered in details in the next MetaTrader 4 guides about navigation menus.
2. Tool Bars
The MT4 tool bars are used to manipulate MetaTrader 4 stock charts, either by placing MT4 indicators, MT4 line studies, change MetaTrader 4 chart timeframes and load MetaTrader 4 template from a list of saved MetaTrader 4 templates.
These MetaTrader 4 toolbars will be discussed on other MT4 tutorials which will outline each MetaTrader 4 button on this MT4 tool-bar & how to add & customize these MetaTrader 4 tool bars.
3. Chart Window Panel
This MT4 stock chart window is the main area where MT4 stock charts are portrayed and one can analyze the trend direction of a MetaTrader 4 stock chart whether up or down, place MetaTrader 4 stock chart indicators for technical analysis & even place orders from these MetaTrader 4 stock charts.
4. Navigator
MT4 Navigator will contain data about MetaTrader 4 accounts, whether practice demo or real, this MetaTrader 4 window panel will also have a list of all MT4 indicators as well as MetaTrader 4 Expert Advisors & scripts.
One can choose which MetaTrader 4 stock account to sign in by expanding the Accounts menu, choose a MetaTrader 4 indicator by expanding the MetaTrader 4 indicator menu or choose an MetaTrader 4 Expert Advisor by expanding the Expert Advisor menu.
5. MarketWatch
MetaTrader 4 Market watch window is used to show streaming price quotes for MetaTrader 4 indices instruments. This can listing as many symbols provided by your MetaTrader 4 broker or few selected by a trader. To save internet band width, right-click inside the MetaTrader 4 market watch window and select "Hide All", so as to hide the MetaTrader 4 symbols that you are not transacting on this MetaTrader 4 platform and save on inter-net band width.
6. Terminal
This is MetaTrader 4 window that's like the bank account trade area for your MT4 trade transactions, on this MT4 window panel you can view your account balance, profit & losses statement, equity, margin used & also generate a copy of all your MT4 trades history.
This MT4 panel will also list all open trade transactions & calculate all the profit and loss in real time as the charts move up/down.
7. Connectivity Bar
MetaTrader 4 connection bars - Red bars are for no connectivity, green bars show that there's connection to the servers and MT4 trading orders can be placed. These MT4 connection bars should always be green when one logged into their MT4 demo account or MT4 live account.
The MetaTrader 4 software main areas form the MT4 software interface & will be the main areas to be covered in detail in next learn MT4 tutorials. For now it's best to download MetaTrader 4 platform software & familiarize yourself with the MT4 platform inter-face.
Why Software is Required for Opening Indices Transactions with Brokers
platform is software that's used to access the market and interpret these price movements using charts and stock technical analysis tools. There are various reasons why one requires to use a good platform. A good indices software can determine if a as a trader you make profit or not.
So why does a trader need a good Stock Software:
To connect to the Broker Server:
To place a trade order one needs to use a software which will connect to the servers of their broker & this will allow them to open & close trade orders. Good softwares will connect with ease to the brokers' servers & allow stocks traders to place orders at any time from their desktop computer PC.
To analyze charts using technical analysis tools
To open a buy or sell indices order a trader needs to first interpret the direction of indices using charts. This is why all good softwares provide stocks trade tools such as price charts, indicators and various different time frames from which one-can analyze price moves using the time frames of their choice.
From the above platform inter-face, summary of all data required by a trader is provided on this MetaTrader 4 platform inter-face
- Connection - connection to the broker servers
- Charts - stock price graphs that display prices
- Tool-Bars - toolbars to add tools & analysis indicators on charts
- Market Watch - for displaying available financial instruments in MT4
- Data window - provides MetaTrader 4 account data and other indicator data
- Exchange rates - shows current market price on a chart
- Menu bar - Shows all menu items in MetaTrader 4 platform
