MT5 Trading Software Guide for Beginner Traders

MT5 Software Tutorial for Beginners

If you want to learn how to setup MT5 software this indices lesson explains the trading step by step tutorial on how to setup MT5 Trading Software for beginners with examples - MT5 Software Platform Setup - MT5 Platform Lesson Guide for Beginners.

The following illustration presented & shown below indicates the main MT5 software inter-face. As a beginner trader trying to learn how to execute orders in online market, the main trading tool for trading the trading market is the MetaTrader 5 software. This is the platform that you'll connect to your broker with & execute indices transactions & monitor your trading equity balance.

The MetaTrader 5 software for indices trading is provided for free by brokers. This MetaTrader 5 software looks like the trading illustrations expounded below:

Learn MT5 Platform Software - MT5 Software Platform Setup - MT5 Platform Lesson Guide for Beginners

Main Areas of this MetaTrader 5 software as illustrated above are:

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

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

1. MT5 Navigation Menus MetaTrader 5 Software Platform Setup - MT5 Platform Lesson 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 MT5 menus are the main navigating menus that can be used to navigate the MetaTrader 5 software. As a beginner you as a stock indices trader 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 MetaTrader 5 software navigation menus will be discussed in details & particulars in the next MetaTrader5 setup tutorials about navigation menus - MT5 Software Platform Tutorial for Beginners.

2. MT5 Toolbars MetaTrader 5 Software Platform Setup - MT5 Platform Lesson Guide for Beginners

The MT5 tool bars are used to manipulate charts, either by placing technical indicators, line studies, change chart time frames & load an MT4 template from a list of saved templates on the MetaTrader 5 software.

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

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

MT5 Chart Panel is the main area where charts are portrayed and one can analyze & interpret the trend direction of a trading chart whether upwards/downwards, place indicators for technical analysis & even place trade orders from these charts - MT5 Strategy Setup.

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

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

One can select & choose which MT5 account to sign in by expanding the Trade Accounts menu, select a chart technical indicator by expanding the MT5 indicator menu or select an Automated Expert Advisor by expanding the MetaTrader 5 Automated Expert Advisor menu - MT5 Software Platform Tutorial for Beginners.

5. MT5 Market Watch MetaTrader 5 Software Platform Setup - MT5 Platform Lesson 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 conserve internet band width, right-click inside the trading market watch window and select "Hide All", so that to hide the MetaTrader 4 symbols that you are not transacting and save on internet band width.

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

This is panel that is like the bank account trade area for your trades, on this panel you as a Stock Index trader 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 and calculate all the profit & loss in real time as the prices move upward or downwards.

7. MT5 Connection Bar MetaTrader 5 Software Platform Setup - MT5 Platform Lesson Guide for Beginners

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

The main levels form the MetaTrader 5 Platform Software Setup tutorial and will be the main levels to be explained in detail in next learn MT5 software tutorials. For now it's best to download MetaTrader 5 software & enlighten yourself with the MetaTrader 5 software workspace.

Why MT5 Software is Required for Placing Trade Transactions with Online Brokers

MetaTrader 5 software is the platform which is used to access the market & interpret & analyze these price movements using analysis. There are various grounds 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 trading Server:

To place an order when online trading a trader needs to use a platform which will connect to the servers of their trading broker & allow them to open and close 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 the charts using analysis

To place a buy or sell order one needs to first analyze the direction of indices. This is why all good platforms provide traders with trading tools like price charts, indicators & various different time frames from which trader can interpret and analyze the price movements using the time frame of their choice.

MT5 Software Setup - MT5 Platform Guide for Beginner Traders

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

• Connection - connection to the broker servers
• Charts - price charts that display the prices
• Toolbars - tool-bars to add tools & analysis technical indicators
• MarketWatch - for displaying available instruments
• Data window - provides trading account data and other indicator data
• Exchange rates - displays the prevailing market price on a trading chart
• Menu bar - Shows all menu items in MetaTrader 5 platform

MT5 Software Setup - MT5 Platform Software Platform Guide for Beginners

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