How to Use MetaTrader 4 BTCUSD Software Guide
The following MetaTrader 4 Bitcoin Trading Platform screen shot below shows Metaquotes MetaTrader 4 Bitcoin Trading Platform. As a beginner bitcoin trader trying to learn how to trade the btcusd trading market - the first you will need to learn is How to Use MT4 Bitcoin Platform - How to Trade BTCUSD in MT4 - How to Trade BTCUSD on MT4 - How to Use MT4 Bitcoin Platform Guide: Bitcoin Trading MetaTrader 4 Download. MT4 Bitcoin Trading Platform is the bitcoin trading platform software that you will use to connect to your online crypto broker with & execute bitcoin trade transactions & monitor your bitcoin trading account balance.
The MT4 is provided for free byMT4 bitcoin brokers. Bitcoin Tutorial MT4 - This MT4 platform platform looks like the cryptocurrency trading example illustrated below:
The Main Areas of this MT4 Bitcoin Platform as explained above are:
- Navigation Menus
- Toolbars
- Chart Window
- Navigator
- Market Watch
- Terminal
- Connection Bars
Bitcoin Tutorial MT4 - How to Use MT4 Bitcoin Trading Platform Tutorial:
1. Navigation Menus
The 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.
These navigation menus will be discussed in details in the next How to Use MT4 Bitcoin Platform Lesson about navigation menus.
2. Toolbars
The MT4 tool bars are used to place bitcoin trading tools on cryptocurrency charts, cryptocurrency traders can place indicators on MT4 cryptocurrency charts, place line studies on MT4 cryptocurrency charts, change crypto chart time frames and load a saved MT4 template from a list of saved templates.
These MetaTrader 4 tool bars will be discussed on other How to Use MT4 Bitcoin Trading Platform Tutorials that will outline each button on each MT4 tool bar and explain how to add and customize these tool bars on the MT4 software.
3. Chart Panel
This is the main MT4 platform area where crypto charts are displayed & a trader can analyze the bitcoin trend direction of a cryptocurrency chart whether up or down, place cryptocurrency indicators for technical analysis & even place orders from these bitcoin charts.
4. Navigator
Navigator window panel will contain information about cryptocurrency accounts, whether practice bitcoin trading account or real account, this window panel will also have a list of all MT4 crypto technical indicators as well as EAs and scripts.
A trader can select which cryptocurrency trading account to login by expanding the Accounts menu, choose an technical indicator by expanding the indicator menu or chose an EA by expanding the EA menu.
5. Market Watch
Market watch is used to show streaming cryptocurrency quotes for bitcoin crypto. This Market Watch window can list as many cryptocurrency quotes provided by your crypto broker or a few chosen by a bitcoin trader.
6. Terminal
This is the panel that is like the bitcoin trading account transaction area for your bitcoin trade transactions, on this panel you can view your balance, profit and losses statement, equity, margin used also retrieve a copy of all your bitcoin trade transactions history.
This will also list all open bitcoin trading transactions and calculate all the profit and loss in real-time as a bitcoin prices move upwards or downwards.
7. Connection Bar
Red bars are for no connection, green bars show that there is connection to the servers and bitcoin trade orders can be set. These connection bars should always be green when a trader is logged into their demo bitcoin trading account or live cryptocurrency trading account.
These main areas form the MT4 interface and will be the main areas to be covered in detail in the next How to Use MT4 Bitcoin Trading Platform Tutorial. For now it is best to download MetaTrader 4 platform and familiarize yourself with the MT4 platform interface.
Why Bitcoin Software is Required for Placing Bitcoin Trade Transactions with Brokers
Bitcoin platform is software that's used to access the btcusd market & interpret these bitcoin price movements using technical analysis cryptocurrency indicators & tools. There are various reasons why one 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 platform:
To connect to the Trading Server:
To place a bitcoin order a trader needs to use a bitcoin software which will connect to the trading servers of their cryptocurrency broker and allow them to open and close trading orders. Good bitcoin platforms will connect with ease to the crypto brokers' servers & allow cryptocurrency traders to place bitcoin orders at any time from their desktop computer PC.
To analyze crypto charts using technical analysis technical indicators
To place buy or sell order a trader needs to first analyze the direction of bitcoin crypto. This is why all good bitcoin trading softwares provide cryptocurrency trading technical analysis tools such as bitcoin price charts, cryptocurrency indicators and various different crypto chart timeframes from which trader can analyze bitcoin price moves using the crypto chart time-frames of their choice.
From above MT4 Bitcoin Platform inter-face, the summary of all data required by a trader is provided on this MT4 Bitcoin Trading Platform interface
- Connection - connection to the broker servers
- Charts - price graphs that display bitcoin prices
- Toolbars - toolbars to add bitcoin trading tools & cryptocurrency trading technical analysis technical indicators
- Market Watch - for displaying available financial instruments
- Data window panel - provides bitcoin account information and other technical indicator data
- Exchange rates - shows current market bitcoin price
- Menu bar - Shows all menu items on the MT4 Platform
