MT5 Bitcoin Trading Platform Setup
MT5 Bitcoin Platform Guide for Beginners
If you want to learn how to set-up MetaTrader 5 software this bitcoin trading guide explains cryptocurrency trading step by step guide on how to setup MT5 Bitcoin Trading Platform for beginners with examples - Bitcoin MetaTrader 5 Software Setup - MT5 Bitcoin Platform Guide for Beginners.
The following example illustrated below shows the main MetaTrader 5 platform interface. As a beginner bitcoin trader trying to learn how to execute orders in the online cryptocurrency market, the main bitcoin trading tool for trading the btcusd trading market is the MetaTrader 5 platform software. This is the bitcoin software that you will connect to your crypto broker with and execute bitcoin transactions & monitor your bitcoin trading account balance.
The MT5 platform for bitcoin trading is provided for free by cryptocurrency trading brokers. This MetaTrader 5 software looks like the cryptocurrency trading example illustrated below:
Learn MT5 Crypto Platform - MetaTrader 5 Crypto Trading Platform Setup - MetaTrader 5 Crypto Trading Software Course for Beginner Traders
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 MetaTrader 5 Bitcoin Trading Platform Set Up guide we shall look at a brief introduction for each of these:
1. MT5 Navigation Menus MT5 Crypto Trading Platform Setup - MetaTrader 5 Crypto Trading Software Course for Beginner Traders
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 MetaTrader 5 platform software. As a bitcoin beginner trader you can begin by clicking any of these MetaTrader 5 software navigation menus to familiarize yourself with various buttons that are arranged as sub-menus within these navigation menus.
These MT5 platform navigation menus will be discussed in details in the next MetaTrader5 setup tutorials about navigation menus - MT5 Bitcoin Platform Guide for Beginners.
2. MT5 Tool Bars MetaTrader 5 Bitcoin Trading Platform Setup - MetaTrader 5 Bitcoin Trading Software Course for Beginner Traders
The MetaTrader 5 toolbars are used to manipulate cryptocurrency charts, either by placing technical cryptocurrency trading indicators, line studies, change crypto chart time frames and load an MT4 template from a list of saved templates on the MetaTrader 5 platform.
These MT5 tool bars will be discussed on other MetaTrader 5 software setup tutorials that will outline each button on this tool bar and how to add and customize these MetaTrader 5 tool bars - Bitcoin MT5 Platform Setup Guide.
3. MT5 Bitcoin Chart Window MT5 Bitcoin Trading Platform Setup - MetaTrader 5 Bitcoin Platform Lesson for Beginner Traders - MT5 Bitcoin Platform Guide
MT5 Bitcoin Chart Window Panel is the main area where crypto charts are displayed & trader can analyze the bitcoin trend direction of a cryptocurrency chart whether up or down, place cryptocurrency indicators for technical analysis and even place trading orders from these crypto charts - MetaTrader 5 Trading Strategy Setup.
5. MT5 Navigator MT5 Bitcoin Trading Platform Setup - MetaTrader 5 Bitcoin Platform Lesson for Beginner Traders - Bitcoin MetaTrader 5 Software Setup
MT5 Navigator will contain information about cryptocurrency accounts, whether practice bitcoin trading account or real account, this window will also have a list of all the MT5 crypto technical indicators as well as EAs and scripts.
A trader can select which MT5 cryptocurrency account to sign in by expanding the Accounts menu, select a cryptocurrency chart indicator by expanding the MT5 cryptocurrency indicator menu or choose an Automated Crypto EA by expanding the MT5 EA menu - MT5 Bitcoin Platform Guide for Beginners.
5. MT5 Market Watch MT5 Crypto Trading Platform Setup - MetaTrader 5 Crypto Trading Software Course for Beginner Traders
MT5 Market watch is used to show streaming quotes for bitcoin crypto. This can list as many quotes provided by your crypto broker or a few chosen by a bitcoin trader. To save inter-net band width, right click inside the btcusd trading market watch window & select 'Hide All', so that to hide the MT4 symbols that you are not transacting and save on inter-net band width.
6. MT5 Terminal MT5 Crypto Trading Platform Setup - MetaTrader 5 Crypto Trading Software Course for Beginner Traders
This is the window panel that is like the bank account trade area for your bitcoin trades, on this window panel you can view your balance, profit & losses statement, equity, margin used also retrieve a copy of all your cryptocurrency trades transactions history.
This will also list all open trades and calculate all the profit & loss in real-time as the bitcoin prices move upwards or downward.
7. MT5 Connection Bar MT5 Crypto Trading Platform Setup - MetaTrader 5 Crypto Trading Software Course for Beginner Traders
Red bars are for no connection, green bars show that there's connectivity to the servers and trade orders can be placed. These MetaTrader 5 connection bars should always be green when one logged into their demo bitcoin account or live account.
These main areas form the MetaTrader 5 Bitcoin Trading Platform Setup tutorial and will be the main areas to be covered in detail in next learn MT5 platform tutorials. For now it is best to download MT5 software and familiarize yourself with the MT5 software interface.
Why MetaTrader 5 Bitcoin Software is Required for Placing Bitcoin Trade Transactions with Brokers
MetaTrader 5 software is the software which is used to access the btcusd market & analyze these bitcoin trading price movements 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 an order when trading online a trader needs to use a platform that will connect to the trading servers of their cryptocurrency trading broker & allow them to open & close trading 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 crypto charts using technical analysis
To open a buy or sell order one needs to first interpret the direction of bitcoin crypto. This is why all good bitcoin trading softwares provide technical tools such as bitcoin trading price charts, indicators and various different time-frames from which one can analyze bitcoin price moves using the chart timeframes of their choice.
MetaTrader 5 Crypto Trading Platform Setup - MetaTrader 5 Crypto Trading Software Course for Beginner Traders
From above MetaTrader 5 cryptocurrency 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 which display bitcoin 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 bitcoin trading price on a bitcoin chart
- Menu bar - Shows all menu items on MT5 software
MetaTrader 5 Crypto Trading Platform Setup - MetaTrader 5 Crypto Trading Software Course for Beginner Traders
