Can I Trade Bitcoin with Bitcoin Platform?
Bitcoin MetaTrader 5 Platform - Bitcoin MT5 Platform
The following image below shows the main MT4 software inter-face. As a beginner bitcoin trader trying to learn how to execute bitcoin orders in the online bitcoin market, the main tool for trading the bitcoin market is the MT4 software software. This MetaTrader 4 software is the software which you'll connect to your bitcoin trading broker with & execute bitcoin trade transactions & monitor your bitcoin account balance from this MT4 software.
The Bitcoin MetaTrader 4 software software is provided for free through the various Bitcoin broker web sites. This MT4 platform looks like the example below:
The Main Areas of this MetaTrader 4 software as shown above are:
- MT4 Navigation Menus
- Toolbars
- MT4 Chart Window Panel
- MT4 Navigator Window
- MetaTrader 4 Market Watch Window Panel
- MetaTrader 4 Terminal
- MetaTrader 4 Connection Bars
For this MT4 tutorial we shall look at a brief introduction for each of these learn bitcoin MetaTrader 4 software:
1. Navigation Menus
The MT4 navigation menus are:
- File
- View
- Insert
- Charts
- Tools
- Window
- Help
These are the main MT4 navigation menus which can be used to navigate the MT4 software. As a beginner bitcoin trader you can start by clicking any of these MetaTrader 4 navigation menus to familiarize yourself with various MetaTrader 4 buttons which are arranged as MetaTrader 4 submenus within these MetaTrader 4 navigation menus.
These MT4 navigation menus will be explained & covered in details in the next MetaTrader 4 guides about navigation menus.
2. Toolbars
The MT4 toolbars are used to manipulate MetaTrader 4 charts, either by placing MT4 indicators, MT4 line studies, change MT4 chart timeframes & load MetaTrader 4 template from a list of saved MT4 templates.
These MetaTrader 4 toolbars will be discussed on other MetaTrader 4 guides that will outline each MT4 button key on this MetaTrader 4 toolbar and how to add & customize these MetaTrader 4 toolbars.
3. Chart Panel
This MT4 chart window is the main area where MT4 bitcoin charts are displayed & a trader can interpret the trend direction of a MetaTrader 4 chart whether up or down, place MT4 chart indicators for technical analysis and even place orders from these MetaTrader 4 charts.
4. Navigator
MT4 Navigator will contain information about MT4 accounts, whether demo or real, this MT4 window will also have a list of all MetaTrader 4 technical indicators as well as MetaTrader 4 Expert-Advisors and scripts.
A trader can select which MT4 account to login by expanding the Accounts menu, choose an MT4 indicator by expanding the MT4 indicator menu or choose an MT4 Expert Advisor by expanding the Expert Advisor menu.
5. Market Watch
MT4 Market watch is used to show streaming trading quotes for MT4 quotes. This can list as many quotes provided by your MT4 Bitcoin broker or a few chosen by a trader. To save inter net bandwidth, right click inside the MT4 market watch window panel & choose "Hide All", so as to hide the currencies that you are not transacting on this MT4 software and save on inter-net band width.
6. Terminal
This is the MT4 window that is like the bank account trade area for your MetaTrader 4 bitcoin trade transactions, on this MetaTrader 4 window you can view your account balance, profit & losses statement, equity, margin used also retrieve a copy of all your MetaTrader 4 bitcoin trade transactions history.
This MetaTrader 4 panel will also list all open bitcoin trade transactions & calculate all the profit & loss in real-time as the bitcoin currencies move up or down.
7. Connection Bar
MT4 connection bars - Red bars are for no connectivity, green bars show that there's connectivity to the servers & MT4 bitcoin trade orders can be placed. These MT4 connection bars should always be green when one logged into their MetaTrader 4 practice account or MetaTrader 4 live account.
These MetaTrader 4 software main areas form the MetaTrader 4 software interface and will be the main areas to be covered in detail in next learn MT4 guides. For now it is best to download MT4 software software & familiarize yourself with MetaTrader 4 platform interface.
Why BTCUSD Software is Required for Placing Transactions with Bitcoin Brokers
Bitcoin platform is the software that's used to access the bitcoin market & interpret these market movements using bitcoin charts and bitcoin technical analysis tools. There are various reasons why a trader requires to use a good bitcoin trading platform. A good bitcoin software can determine if a as a trader you make profit or not.
So why does a trader need a good Bitcoin Trading Platform:
To connect to the Bitcoin Broker Trading Server:
To place a bitcoin trade order a trader needs to use a bitcoin software which will connect to the trading servers of their bitcoin broker and this will allow them to open and close bitcoin trade orders. Good bitcoin platforms will connect with ease to the brokers' servers & allow bitcoin traders to place bitcoin trade orders at any time from their desktop computer PC.
To analyze bitcoin charts and currencies using bitcoin technical analysis tools
To place a buy or sell bitcoin order a trader needs to first interpret the direction of a trading quote using bitcoin charts. This is why all good bitcoin trading softwares provide bitcoin trading technical tools such as bitcoin trading price charts, bitcoin technical indicators & various different chart timeframes from which trader can analyze bitcoin trading price moves using the bitcoin chart time-frames of their choice.
From the above bitcoin platform inter-face, the summary of all data required by a trader is provided on this MT4 software interface
- Connection - connection to the broker servers
- Charts - price graphs that display bitcoin prices
- Tool bars - toolbars to add tools and technical analysis indicators on bitcoin charts
- Market Watch - for displaying available financial instruments on MetaTrader 4
- Data window panel - provides MetaTrader 4 account information and other technical indicator data
- Exchange rates - shows current market price of a trading symbol
- Menu bar - Shows all menu items on the MetaTrader 4 software
