MT5 Platform - MT5 Platforms - MetaTrader 5 Softwares
MT5 Charts - MT5 Platform Trading & Orders
If you want to learn how to set-up the MetaTrader 5 this tutorial explains the step by step tutorial on how to setup MetaTrader 5 for beginners with example - Gold Get to Know Your MetaTrader 5 Platform - Get to Know Your MT5 Software.
The following example below shows the main MetaTrader 5 inter-face. As a beginner trying to learn how to execute trading orders in online trading market, the main tool for trading the market is the MT5 software. This is the trading platform that you'll connect to your broker with & execute transactions and monitor your equity balance.
The MT5 platform for trading gold is provided free by gold brokers. This MetaTrader 5 platform looks like the example below:
Learn MT5 Platform Software
Main Areas of this MT5 platform as shown above are:
- Navigation Menus
- Tool Bars
- Chart Window
- Navigator
- MarketWatch
- Terminal
- Connection Bars
For this MT5 Setup lesson we shall look at a brief introduction for each of these:
1. MetaTrader 5 Navigation Menus Get to Know Your MT5 Platform
The MT5 navigation menus are:
- File Menu
- View Tab
- Insert Menu
- Charts Menu
- Tools Menu
- Window Tab
- Help Menu
These MetaTrader 5 menus are main navigating menus which can be used to navigate the MT5 software software. As a beginner you can begin by clicking any of these MT5 navigating menus to familiarize yourself with different buttons which are arranged as sub-menus within these navigating menus.
These MT5 software navigating menus will be described and discussed in details in the next MetaTrader 5 set-up guides about navigating menus - Get to Learn Your MetaTrader 5 Software.
2. MetaTrader 5 Tool-Bars MetaTrader 5 Setup
The MT5 tool-bars are used to manipulate charts, either by placing trading indicators, line studies, change chart timeframes and load an MetaTrader 4 template from a listing of saved templates in the MT5 software platform.
These MetaTrader 5 tool bars will be discussed on other MT5 setup guides which will outline each button on this tool bar and how to add and customize these MT5 tool bars - Gold Meta Trader 5 Platform Setup Lesson.
3. MT5 Chart Window MetaTrader 5 Setup
MT5 Chart Panel is the main area where charts are portrayed & one can analyze the trend direction of a chart whether up/down, place indicators for trading analysis & even place trade orders from these trading charts - Get to Know Your MT5 Software.
5. MetaTrader 5 Navigator MetaTrader 5 Setup
MT5 Navigator will contain information about accounts, whether practice trading account or live account, this window will also have a list of all the MT5 technical indicators as well as Expert-Advisors & scripts.
A trader can select which MetaTrader 5 gold account to sign in by expanding the Trading Accounts menu, select a chart technical indicator by expanding the MetaTrader 5 indicator menu or select an Automated Expert Advisor by expanding the MT5 Expert-Advisor menu - Find to Know Your MT5 Software.
5. MetaTrader 5 Market Watch MT5 Setup
MT5 Market watch is used to show streaming quotes for quotes. This can list as many trading symbols provided by your online broker or a couple of chosen by a gold trader. To save internet band-width, right-click inside the market-watch panel window panel and select 'Hide All', to hide the currencies that you're not transacting & save on internet band width.
6. MetaTrader 5 Terminal MT5 Setup
This is the panel that is like the bank account trade area for your trade transactions, on this panel you can view your equity balance, profit & losses statement, equity, margin used and also generate a copy of all your trade transactions transaction history.
This also will list all open trade transactions & calculate all the profit and loss in real-time as the currencies move up/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 set. These MT5 connection bars should always be green when one logged into their practice trading account or real account.
These main areas form the MT5 Platform Setup tutorial and will be the main levels to be covered in detail in next learn MetaTrader 5 software tutorials. For now it is best to download MetaTrader 5 platform and accustom yourself with the MetaTrader 5gold software inter-face.
Why MT5 Platform is Required for Opening Transactions with Online Brokers
MT5 platform is the software which's used to access the market & analyze these currencies using trading analysis. There are different reasons why one requires to use a good platform. A good software can determine if a as a gold trader you earn profit or not.
So why does a xauusd trader need a good platform:
To connect to the Server:
To place a order when trading online a trader needs to use a software which will connect to the servers of their broker & allow them to open & close orders. Good softwares will connect with ease to the brokers' servers and allow traders to place orders at any time from their computer.
To analyze charts & currencies using trading analysis
To open buy or sell order a trader needs to first interpret direction of a symbol. This is why all good platforms provide trading analysis tools for example price charts, technical indicators and various different time-frames from which one can analyze price moves using timeframes of their choice.
MetaTrader 5 Software Setup
From the above MT5 software interface, the summary of all information required by a trader is provided on this MT5 interface
- Connection - connection to the broker servers
- Charts - price charts that show prices
- Toolbars - tool bars to add tools & technical analysis technical indicators
- Market Watch - for displaying available financial instruments
- Data panel - provides account information & other technical indicator data
- Exchange rates - shows ruling price of a trading symbol
- Menu bar - Shows all menu items on the MT5 platform
MT5 Platform Setup
Learn More Lessons and Courses:
- Bollinger Bands MetaTrader 5 Trading Indicator
- What's Best Index Trade Software for Beginners?
- Momentum & Parabolic FX Trends
- Best Way to Trade DAX 30 Stock Indices
- Indices Strategy using RSI Index Trade Technical Indicator
