MT5 Trading Software Course for Beginners

MT5 Platform Guide for Beginners

If you want to learn how to set-up MT5 software this indices lesson explains the trading step by step guide on how to setup MT5 Trading Software for beginners with examples - MT5 Software Setup - MetaTrader 5 Software Guide for Beginners.

The following example explained and illustrated below shows the main MT5 platform inter-face. As a beginner trader trying to learn how to execute orders in online trading market, the main trading tool for trading the trading market is the MT5 software. This is the platform that you'll connect to your broker with & execute indices transactions & monitor your trading equity balance.

The MT5 platform for indices trading is provided for free by trading brokers. This MetaTrader 5 platform looks like the trading examples explained below:

Learn MT5 Platform - MT5 Software Setup - MetaTrader 5 Software Guide for Beginners

Main Areas of this MT5 platform as illustrated above are:

1. Navigation Menus
2. Tool Bars
3. Chart Window
4. Navigator
5. MarketWatch
6. Terminal
7. Connection Bars

For this MT5 Software Setup lesson we shall look at a brief introduction for each of these:

1. MT5 Navigation Menus MT5 Software Setup - MetaTrader 5 Software Guide for Beginners

The MetaTrader 5 navigating menus are:

1. File Tab
2. View Tab
3. Insert Tab
4. Charts Tab
5. Tools Tab
6. Window Tab
7. Help Tab

These MetaTrader 5 menus are the main navigating menus that can be used to navigate the MetaTrader 5 platform. As a beginner you can begin by just pressing on any of these MT5 software navigation menus to accustom yourself with the various buttons that are grouped as submenus within these navigation menus.

The MT5 platform navigation menus will be discussed in details in the next MetaTrader5 setup tutorials about navigation menus - MT5 Software Guide for Beginners.

2. MT5 Tool Bars MT5 Software Setup - MetaTrader 5 Software Guide for Beginners

The MetaTrader 5 tool-bars are used to manipulate charts, either by placing technical indicators, line studies, change chart timeframes & load an MetaTrader 4 template from a list of saved templates on the MT5 platform.

The MT5 tool bars will be discussed on other MT5 software set-up lessons which will outline each button on this tool bar and how to add and customize these MT5 tool bars - MetaTrader 5 Trading Platform Setup Guide.

3. MT5 Chart Window MT5 Software Setup - MetaTrader 5 Trading Software Lesson for Beginners - MT5 Platform Tutorial

MT5 Chart Panel 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 charts - MT5 Trading Strategy Setup.

5. MT5 Navigator MT5 Software Setup - MetaTrader 5 Trading Software Lesson for Beginners - MT5 Trading Software Setup

MetaTrader 5 Navigator will contain information about accounts, whether practice trading account or live account, this window will also have a list of all the MT5 indicators as well as Expert Advisors and scripts.

One can select which MT5 account to login by expanding the Trading Accounts menu, choose a chart technical indicator by expanding the MT5 indicator menu or choose an Automated Expert Advisor by expanding the MT5 Automated Expert Advisor menu - MT5 Software Guide for Beginners.

5. MT5 Market Watch MT5 Software Setup - MetaTrader 5 Software Guide for Beginner Traders

MT5 Market watch is used to show streaming quotes for indices. This can list as many quotes that are offered by your broker or a couple of chosen by a indices trader. To save internet band width, right-click inside the trading marketwatch window and select "Hide All", so that to hide the MetaTrader 4 symbols that you are not transacting and save on inter-net band width.

6. MT5 Terminal MT5 Software Setup - MetaTrader 5 Software Guide for Beginner Traders

This is panel that is like the bank account trade area for your trades, on this panel you can view your account equity balance, profit & losses statement, equity, margin used and also to retrieve a copy of all your stock trades transactions history.

This will also listing all open trades & calculate all the profit & loss in real-time as the prices move upward or downwards.

7. MT5 Connection Bar MT5 Software Setup - MetaTrader 5 Software Guide for Beginner Traders

Red bars are for no connectivity, green bars show that there's connection to the servers & trading orders can be set. These MT5 connection bars should always be green when one logged in to their demo trading account or real account.

The main levels form the MT5 Platform Setup guide and will be the main levels to be covered in detail in next learn MetaTrader 5 platform guides. For now it is best to download MT5 platform and enlighten yourself with the MetaTrader 5 software workspace.

Why MetaTrader 5 Software is Required for Placing Trade Transactions with Online Brokers

MT5 platform is the platform which's used to access the market and interpret these price movements using analysis. There are various reasons why one requires to use a good platform. A good software can determine if a as a stock index trader you make profit or not.

So why does a stock indices trader need a good platform:

To connect to the Server:

To place an order when trading online a trader needs to use a platform which will connect to the trading servers of their trading broker & allow them to open & close trading orders. Good softwares will connect with ease to the brokers' servers & allow traders to place orders at any time from their desktop computer.

To analyze charts using analysis

To place a buy or sell order one needs to first analyze the direction of indices. This is why all good platform softwares provide traders with trading tools such as price charts, indicators & various different timeframes from which trader can analyze price moves using the time frame of their choice.

MT5 Software Setup - MetaTrader 5 Software Course for Beginners

From the above MT5 software interface, summary of all information required by a trader is provided on this MetaTrader 5 interface

• Connection - connection to the broker servers
• Charts - price charts that display prices
• Toolbars - toolbars to add tools & analysis technical indicators
• MarketWatch - for displaying available trading instruments
• Data window - provides trading account data & other trading indicator data
• Exchange rates - displays the prevailing market price on a trading chart
• Menu bar - Shows all menu items in MT5 software

MT5 Platform Setup - MT5 Platform Course for Beginner Traders

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