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