MT5 Platform Software - MT5 Platforms - MetaTrader 5 Softwares
MetaTrader 5 Charts - MetaTrader 5 Platform Trading & Orders
If you want to learn how to setup the MetaTrader 5 this guide explains the step-by-step tutorial on how to setup MetaTrader 5 for beginners with example - Gold Get to Know Your MT5 Platform - Get to Know Your MetaTrader 5 Platform.
The following example below indicates the main MT5 inter-face. As a beginner trying to learn how to execute orders in online trading market, the main tool for trading the market is the MetaTrader 5 platform. This is the platform software that you'll connect to your broker with and execute transactions and monitor your equity balance.
The MT5 platform for trading gold is provided free by gold brokers. This MT5 platform looks like the illustration below:
Learn MT5 Platform Software
Main Areas of this MT5 platform like as shown above are:
- Navigation Menus
- Tool-Bars
- Chart Panel
- Navigator
- MarketWatch
- Terminal
- Connection Bars
For this MetaTrader 5 Setup lesson we shall look at a brief introduction for each of these:
1. MT5 Navigation Menus Get to Know Your MetaTrader 5 Platform
The MetaTrader 5 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 platform. As a beginner you as a gold trader 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 elaborated and discussed on details & particulars in the next MetaTrader 5 set-up guides about navigating menus - Get to Learn Your MT5 Software.
2. MT5 Tool-Bars MT5 Setup
The MT5 tool bars are used to manipulate charts, either by placing trading indicators, line studies, change chart time-frames and load an MT4 template from a listing of saved templates in the MetaTrader 5 platform.
These MT5 toolbars will be discussed on other MetaTrader 5 setup guides that will outline each button on this tool-bar and how to add and customize these MetaTrader 5 toolbars - Gold Meta Trader 5 Platform Software Setup Lesson.
3. MetaTrader 5 Chart Window MT5 Setup
MetaTrader 5 Chart Panel is the main area where charts are portrayed & one can analyze & interpret 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 MetaTrader 5 Platform.
5. MT5 Navigator MetaTrader 5 Setup
MT5 Navigator will contain information about accounts, whether practice trading account or live account, this window panel will also have a list of all the MetaTrader 5 indicators & also Expert-Advisors and scripts.
A trader can select which MT5 gold account to sign in by expanding the Accounts menu, choose a chart indicator by expanding the MT5 indicator menu or select and choose an Automated Expert Advisor(EA) by expanding the MT5 Expert-Advisor menu - Find to Know Your MT5 Platform.
5. MT5 MarketWatch MT5 Setup
MT5 Market watch is used to show realtime quotes for quotes. This can list as many symbols provided by your broker or a couple of chosen by a gold trader. To save internet band-width, right click inside the market-watch window panel and select 'Hide All', to hide the currencies that you're not transacting & save on internet band width.
6. MT5 Terminal MetaTrader 5 Setup
This is the panel that is like the bank account trade area for your trades, on this panel you as a gold trader can view your equity balance, profit & losses statement, equity, margin used & also generate a copy of all your trades trade transaction history.
This also will list all open trade positions and calculate all the profit and loss on real time as the currencies move up/down.
7. MetaTrader 5 Connection Bar MetaTrader 5 Setup
Red bars are for no connection, green bars show that there's connection to the servers & trade orders can be set. These MetaTrader 5 connection bars should always be green color when a trader is signed into their practice trading account or live/real account.
These main areas form the MetaTrader 5 Platform Setup course and will be the main levels to be discussed in detail in the next learn MT5 software tutorials. For now it's best to download MT5 platform and accustom yourself with the MT5 gold software inter-face.
Why MetaTrader 5 Platform is Required for Opening Transactions with Brokers
MetaTrader 5 platform software is the software which's used to access the market & analyze these currencies using trading analysis. There are different explanations why a trader 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/gold trader need a good platform software:
To connect to the trading Server:
To place and open a trade order when online trading a trader needs to use a software that will connect to the servers of their broker & allow them to open & close orders. Good softwares will connect with ease to the brokers' servers & allow traders to place orders at any time from their computer.
To analyze charts and 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 analysis tools for example price charts, indicators & various different time-frames from which one can interpret and analyze price movements using timeframes of their choice.
MT5 Software Platform Setup
From the above MT5 software interface, the summary of all info required by a trader is provided on this MetaTrader 5 interface
- Connection - connection to the broker servers
- Charts - price charts that display prices
- Toolbars - tool-bars to add tools and technical analysis indicators
- Market Watch - for displaying available financial trading instruments
- Data panel - provides account information and other technical indicator data
- Exchange rates - shows ruling price of a trading symbol
- Menu bar - Displays all the menu list items on the MetaTrader 5 platform
MT5 Platform Software Setup
Learn More Lessons and Tutorials & Courses:
- Bollinger Band MT5 Indicator
- What's Best Index Trade Software for Beginner Traders?
- Momentum and Parabolic Forex Trends
- Best Way to Trade DAX 30 Indices
- Indices Strategy using RSI Index Trade Indicator
