MT4 Trading Platform for Trading Bitcoin - MT4 Platform
MT4 Bitcoin Trading Platforms - MT4 Softwares
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 MT4 software is the software which you'll connect to your bitcoin trading broker with and execute bitcoin trade transactions & monitor your bitcoin account balance from this MT4 software.
The Bitcoin MT4 software software is provided for free through the various Bitcoin broker web sites. This MetaTrader 4 software looks like the example below:
The Main Areas of this MT4 software as shown above are:
- MetaTrader 4 Navigation Menus
- Toolbars
- MT4 Chart Window Panel
- MT4 Navigator Window
- MetaTrader 4 Market Watch Window
- MetaTrader 4 Terminal
- MT4 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 MetaTrader 4 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 MT4 navigation menus to familiarize yourself with various MT4 buttons that are arranged as MetaTrader 4 submenus within these MT4 navigation menus.
These MetaTrader 4 navigation menus will be described & covered in details in the next MetaTrader 4 guides about navigation menus.
2. Toolbars
The MetaTrader 4 toolbars are used to manipulate MetaTrader 4 charts, either by placing MT4 indicators, MT4 line studies, change MetaTrader 4 chart timeframes and load MT4 template from a list of saved MT4 templates.
These MT4 toolbars will be discussed on other MT4 guides that will outline each MT4 button key on this MetaTrader 4 toolbar & how to add & customize these MT4 toolbars.
3. Chart Window Panel
This MT4 chart window is the main area where MT4 bitcoin charts are displayed and a trader can interpret the market trend direction of a MetaTrader 4 chart whether up or down, place MetaTrader 4 chart indicators for technical analysis & even place orders from these MT4 charts.
4. Navigator
MetaTrader 4 Navigator will contain information about MT4 accounts, whether practice or real, this MT4 window will also have a list of all the MT4 technical indicators as well as MT4 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
MetaTrader 4 Market watch is used to show streaming trading quotes for MT4 trading quotes. This can list as many quotes provided by your MT4 Bitcoin broker or a few chosen by a trader. To save internet band width, right click inside the MetaTrader 4 market watch window & choose 'Hide All', so as to hide the currencies that you're not transacting on this MT4 software & save on inter-net band width.
6. Terminal
This is the MetaTrader 4 window that is like the bank account trade area for your MetaTrader 4 bitcoin trade transactions, on this MT4 window you can view your trading account balance, profit and losses statement, equity, margin used also retrieve a copy of all your MetaTrader 4 bitcoin trade transactions history.
This MT4 window panel will also list all open bitcoin trade transactions and 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 is connection to the servers and MT4 bitcoin trade orders can be set. These MetaTrader 4 connection bars should always be green when one logged into their MT4 practice account or MetaTrader 4 live account.
These MT4 platform main areas form the MetaTrader 4 software interface & will be the main areas to be covered in detail in next learn MetaTrader 4 guides. For now it is best to download MT4 software software & familiarize yourself with MT4 platform interface.
Why Bitcoin Software is Required for Placing Trade Transactions with Bitcoin Brokers
Bitcoin platform is the software which is 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 platform. A good bitcoin platform can determine if a as a trader you make profit or not.
So why does a trader need a good Bitcoin Trading Software:
To connect to the Bitcoin Broker Trading Server:
To place a bitcoin trade order one needs to use a bitcoin platform 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 trading platforms will connect with ease to the brokers' servers & allow bitcoin traders to place bitcoin orders at any time from desktop computer PC.
To analyze bitcoin charts & 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 price charts, bitcoin indicators & various different chart timeframes from which trader can analyze bitcoin 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 platform interface
- Connection - connection to the broker servers
- Charts - price graphs that display bitcoin prices
- Tool bars - toolbars to add tools & technical analysis indicators on bitcoin charts
- Market Watch - for displaying available instruments in MetaTrader 4
- Data window - provides MT4 account information & other technical indicator data
- Exchange rates - shows current market price of a trading symbol
- Menu bar - Shows all menu items in MetaTrader 4 software
