Best Online Software - MetaTrader 4 Software
The Best Online Platform is the MT4 platform. This is one of most common Forex platform which is used almost by every other trader as well as almost every online broker.
In this tutorial we shall explain the MT4 Interface so that beginner traders wanting to begin learning this Best Online Software, can then start from this course.
Best Online Software - MetaTrader 4 Workspace
Form the above screenshot of the this software there are several tool bars as well as chart window.
You can download this Best Online Platform from your online broker's website. Now after you download it, then you will need to learn one or two things about this Forex platform:
The first thing is how to setup this Forex platform after you download. For example if you download the MT4 platform, you will need to go to a Forex broker first, register for a demo trading account then after you sign up for a demo trade account you will be provided with a link where to download MT4 Platform Software.
Once you download this Forex platform, assuming you don't know much about PC Desktop computers, Open your Browser >>> Go to tools on left top corner of your browser next to the 'file', 'edit', 'view' menus click on tools, select download file location, (short-cut: once you launch your browser click on CTRL+J or CTRL+ Y), a download pop-up will appear with links to down-loaded items. Choose the MT4 that you have just downloaded.
Installing MT4 - Best Online Software
To setup this software after you've downloaded, open the download from where it is where you downloaded, from there an setup wizard pops up and all you've to do is to follow the setup instructions. After installation the platform software will run automatically just like any other software. Read guide How to install Meta Trader 4 platform. This platform is easy to setup & this is another reason why this platform is the Best Online Software.
You can open MT4 from the begin menu>>> Programs or from the desktop short-cut that appears as a desktop icon marked MetaTrader 4 after setup.
Demo Account Registering and Login
To open an account in MT4 just click on 'file' & then on open an account, to login to an account just click on 'file' at the top right corner and click login from the drop-down menu that pops up.
Once yousign in to the MetaTrader 4 software you'll get access to charts & other technical analysis tools such as indicators that you will then use to place trades within the market while connected to your Forex broker's servers.
Platform Menu Bar and Tool-Bars
Menu Bar in Meta Trader 4 for Navigating within the Platform - Best platform
Menu bar is used to operate & navigate this Forex platform from a single panel window. From this panel you can set how to view tool-bars, chart, data windows and even use the file tab to open a account - & also sign in to your account. This menu bar makes this platform easy to operate & this is also why this is Best Online Platform for beginners.
From the menu bar you can click the view tab & choose chart tool-bars like in the above pictured screenshot, these menu tool-bars can be used to setup charts, indicators, time frames, & others things like drawing trendlines & Fibo retracement areas & Fib extension levels. To learn how to customize this software go to this MT4 Course Section.
Now that we have looked at the tool-bar & menu bar, we shall look at the main work-space inter-face of the MetaTrader 4 software.
Best Online Software - MT4 Best Online Platform
Market Watch window - This window is used to show a stream of the exchange rates that's obtained from your currency broker. In this market watch panel you can right-click anywhere on this panel to choose show all forex pairs or hide the ones you're not interested in and save some bandwidth at the same time. No need to have streaming prices for 50 pairs if you're only interested 4 forex pairs. This make this software easy to use with any inter net connection another reason why this is Best Online Software.
Data Window Panel - Used to setup Indicators, EAs & scripts, you can click on any of this menu sub items & expand/collapse the indicators or EAs used for automated trading.
Charts Panel - This is where the currency price moves will be plotted.
Charts Tab - Navigation from one currency pair to another is easy, just flip through the charts tab as shown above.
Terminal Window Panel - This panel is used to illustrate a statement of your trades, profits and loses that you have made in your live Forex account or demo trade account. To enlarge this window & view open trades, just hover the mouse on terminal tool-bar until the cursor pointer changes, click & hold down mouse button & then move cursor pointer upward.
Connection bars - These are used to show the connection to the internet, red bars mean no online internet connectivity, green bars explain there internet connection.
Exchange Rates Graph - this displays the exchange rates for the currency pairs that you are trading so that to display if the exchange rate is going upward or downwards.
Advantages of MT4 - Why MT4 is The Best Online Software
In the online market there are many softwares available around the internet. But among the top softwares the Best Online Platform is the MT4 Software, it is the best Forex software because of following reasons:
Low Bandwidth Connection Requirement
Not everyone can afford to pay for the best online internet connection, the T1, the satellite, ADSL or Fiber internet connection: furthermore, these are not readily available to some residential areas & might be limited to office buildings. This is why it's best to select a Forex platform which requires the minimum band width, MT4 software platform. Even with the best internet connection, sometimes the internet connection might not be available and you might need to use an alternative connection like the dial up or modem. MT4 is the least expensive if you are on a modem. To even reduce further the internet bandwidth usage navigate to market watch (Shortcut press CTRL+M), Right Click on any currency, Choose 'Hide all', now the software will only stream the currencies quotes for the pairs you only need & conserve your inter net band-width even further. Especially when using a phone or i Pad or a Tablet where you are paying for phone credit doing this can save your inter-net data credit. This is one of reason why MetaTrader 4 is considered as one of the Best Online Platforms online.
The easier it is to connect the easier it is open and close trades on time.
Provided by all Online Brokers
Another reason why this Forex software is regarded as one of Best Online Platform is because MT4 is liked by most traders all online brokers provide it. Once as a investor learns the MetaTrader 4 software there is no need to re-learn when you switch to another Forex broker. You can still use the same MT4 software of the new Forex broker without the need to learn a new platform all over again.
Easy Analysis
The other thing which makes this the Best Online Platform is the ease with which you can set up the technical analysis indicators on the currency charts. Even those using various web traders will do their technical analysis in Meta Trader 4 chart and then place their orders on their web-trader.
Technical analysis traders also can setup custom technical indicators on this platform, making it easier to add more technical analysis tools onto this platform. Others also install Expert Advisors on this platform so as to trade automatically with these programs referred to as automated Expert Advisor Robots.
Best Forex Charts
The MetaTrader 4 has the Best Online Platform charts representations available & implements many chart time frames from which a can select.
Simplicity
Overall the simplicity of this software & the fact that any investor can learn how to use MetaTrader 4 within one hour makes this the Best Online Software for new and experienced currency traders.
