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