Introduction to MetaTrader 4 Platform Software Interface
The following image below highlights the main MT4 interface showing what is a MetaTrader 4 software. As a beginner trader trying to learn how to execute orders in the online trading market, the main trading tool for transacting the market is the MT4 software software. This How to Use MT4 Review Tutorial for Beginner Traders will explain how you as a trader can use this MetaTrader 4 software to connect to your MT4 stock trading broker & execute transactions and monitor your account balance from this MetaTrader 4 software that you'll download from online MT4 brokers.
The MetaTrader 4 Platform Software is offered for free through the various broker websites. This platform resembles the illustration explained below:
Introduction to MetaTrader 4 Interface - MetaTrader 4 Introduction Guide
Main Areas of this MetaTrader 4 just as shown above are:
- Navigation Menus
- Tool Bars
- Chart Window Panel
- Navigator
- Market Watch
- Terminal
- Connection Bars
For this MetaTrader 4 Introduction Lesson we shall look at a brief introduction explanation 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 MetaTrader 4 software. As a beginner trader you as a trader 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 software.
These MetaTrader 4 navigation menus will be elaborated 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 time frames and load a MetaTrader 4 template from a list of saved stock chart templates.
These MetaTrader 4 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 and 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 and also Expert Advisors and scripts.
A trader can select which trading account to login by expanding the Accounts menu, select 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 realtime 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 software. 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 is like the bank trading account trade area for your trades, on this MetaTrader 4 window panel you as a trader can view your trading account balance, profit & losses statement, equity, margin used and also to retrieve a copy of all your trades history.
This also will list all open trades & calculate all the profit and loss in realtime as a stock prices move upward or downwards.
7. Connectivity Bar
MT4 connection bars on MT4 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 status bars should always be in green when one is signed in to their practice demo account or real account.
These main levels form the MetaTrader 4 interface & will be the main levels to be discussed in detail in the next MetaTrader 4 Introduction Tutorials. For now it is best to download MetaTrader 4 software and enlighten yourself with MT4 software workspace.
Why Platform is Required for Opening Trade Transactions with Online Brokers
Platform is software that's used to access the market & interpret and analyze these trading price movements using charts and trading analysis tools. There are various grounds why a trader 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 Software Platform:
To connect to the Broker Server:
To place a trade order a trader needs to use a software that will connect to the trading servers of their stock trading broker and allow them to open and close-out trade orders. Good platforms will connect with ease to the online brokers' servers and allow stocks traders to place and open stocks orders at any time from their desktop computer PC.
To analyze & interpret charts using charts & 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 & stock technical analysis tools such as, indicators & various different chart time frames from which a trader can analyze price movements using the time-frames of their choice.
How to Use MetaTrader 4 Guide
From the above MetaTrader 4 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 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 & Tutorials:
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- How Can I Trade DJ30 Index?
- What Time Does US30 Index Market Open?
- How to Analyze MetaTrader 5 Downwards Trend Line in MT5 Trading Platform
