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