Introduction to MT4 Software Interface
The following image below highlights the main Meta Trader 4 interface showing what is a MetaTrader 4 platform. As a beginner trader trying to learn how to execute orders in the online trading market, the main tool for transacting the market is the MT4 software software. This How to Use MT4 Review Tutorial for Beginners will explain how you can use this MetaTrader 4 software to connect to your MetaTrader 4 stock trading broker & execute transactions and monitor your account balance from this MetaTrader 4 platform that you will download from online MT4 brokers.
The MT4 Software is offered for free through the various broker sites. This platform looks like the example explained below:
Introduction to MetaTrader 4 Interface - MetaTrader 4 Introduction Guide
Main Areas of this MT4 as shown above are:
- Navigation Menus
- Tool Bars
- Chart Window
- Navigator
- Market Watch
- Terminal
- Connection Bars
For this MetaTrader 4 Introduction Lesson we shall look at a brief introduction for each of these:
1. Navigation Menus
The navigation menus are:
- File Tab
- View Tab
- Insert Tab
- Charts Tab
- Tools Tab
- Window Tab
- Help Tab
These are main navigation menus that can be used to navigate MT4 software. As a beginner trader you can begin by just pressing on any of these navigation menus so as to accustom yourself with the various buttons that are grouped as sub menus within these navigation menus in MT4 platform.
These MT4 navigation menus will be described and discussed in details in the next MetaTrader 4 Introduction Guides about navigating menus.
2. Tool Bars
The MetaTrader 4 tool-bars are used to manipulate charts, either by placing chart technical indicators, line studies, change chart timeframes and load a MetaTrader 4 template from a list of saved stock chart templates.
These MT4 tool bars will be discussed on other MT4 Introduction Tutorials which will outline each button on this MetaTrader 4 tool bar and explain how to add MetaTrader 4 stock chart tool bars and how to customize MetaTrader 4 stock chart tool bars.
3. Chart Panel
This is the main workspace area where charts are portrayed and one can analyze the trend direction of a stock chart whether upward or downward, place chart technical indicators for technical analysis & even place orders from these trading price charts.
4. Navigator
Navigator panel will contain data about stock accounts, whether demo trading account or real account, this window will also have a list of all the MetaTrader 4 indicators as well as Expert Advisors and scripts.
A trader can select which trading account to login by expanding the Accounts menu, choose a technical indicator by expanding the trading indicator menu or select an EA by expanding the Expert Advisor menu.
5. Market Watch
Market-Watch window is used to show real-time stock quotes for indices. This can list as many stock quotes provided for by your broker or a few chosen by a trader on the MetaTrader 4 platform. To save internet band-width, rightclick inside the market watch window panel and select 'Hide All', so that to hide the instruments that you're not trading and save on inter-net bandwidth.
6. Terminal
This is window that's like the bank trading account trade area for your trades, on this MT4 panel window you can view your trading account balance, profit & losses statement, equity, margin used and also to retrieve a copy of all your trade transactions history.
This also will list all open trade transactions & calculate all the profit & loss in realtime as a stock prices move upward or downwards.
7. Connectivity Bar
MT4 connection bars on MetaTrader 4 status bar - Red bars are for no connection, green bars show that there is connection to the broker servers & trading orders can be placed. These MetaTrader 4 connection bars should always be green when one logged in to their demo account or real account.
These main levels form the MetaTrader 4 interface and will be the main levels to be covered in detail in the next MetaTrader 4 Introduction Tutorials. For now it is best to download MT4 platform and enlighten yourself with MetaTrader 4 software workspace.
Why Platform is Required for Opening Trade Transactions with Online Brokers
Platform is software that's used to access the market and interpret these trading price movements using charts & trading analysis tools. There are various reasons why one requires to use a good platform. A good software can determine if a as a trader you make a profit or not when trading using the platform.
So why does a stock index trader need a good Platform Software:
To connect to the Broker Server:
To place a trade order a trader needs to use a software which will connect to the servers of their stock trading broker and allow them to open and close trade orders. Good platforms will connect with ease to the online brokers' servers and allow stocks traders to place stocks trade orders at any time from their desktop computer PC.
To analyze charts using charts and stock trading analysis tools
To place a buy or sell order a trader needs to first interpret the direction of indices. This is why all good softwares provide trading price charts and stock technical analysis tools such as, indicators and various different chart time-frames from which a trader can analyze price moves using the timeframes of their choice.
How to Use MetaTrader 4 Guide
From the above MT4 software interface - MetaTrader 4 Introduction Tutorial, the summary of all the info required by a indices trader is provided in this interface
- Connection - connection to the broker servers
- Charts - stock trading price graphs that display trading prices movements
- Toolbars - chart tool bars to add tools & technical analysis indicators
- MarketWatch - for displaying available financial instruments
- Data window - provides account info and other trading indicator data
- Exchange rates - displays the prevailing market stocks trading price on a trading chart
- Menu bar - Shows all menu items in MT4 software
Learn More Courses and Tutorials:
- How Can I Add WallStreet30 in MT4 Platform?
- How to Generate Trade Signals with a Index System
- How Can I Trade DJ30 Index?
- What Time Does US30 Index Market Open?
- How to Interpret MetaTrader 5 Downwards Trend Line in MT5 Trading Platform
