How Do I Get Started with MT4 Platform? - Forex MT4 Download
To begin trading with the MetaTrader 4 platform, you need to follow steps listed below:
Download MetaTrader 4 Platform - Trading Account MetaTrader 4 Download
Setup MetaTrader 4 Platform on Your PC. Open a account in MT4 platform. Log in to MetaTrader 4 Account with your account sign in details Open Charts and place Trades using the MT4 Platform.
How to Open a MT4 Account - Trading Account MetaTrader 4 Download
After you Download MT4 from your online broker you'll then need to open a MetaTrader 4 Account to trade with.
How to Open a Demo Account using Meta Trader 4 Platform
- Download MT4 Platform - MT4 Software.
- Setup the MT4 Software.
- Open the MT4 Platform Software.
- Enter the Log in Details: Account Name and Password for the Demo Trade Account
- Open Charts and start practice trading.
- If you don't have a demo account you can register for a demo trade account using the File menu, Click New Practice Account Registration & enter your details & sign up for an Meta Trader 4 account.
How to Register a Real Account in MetaTrader 4
- Download MT4 Platform Software
- Setup MetaTrader 4 Platform on your PC.
- Open the MetaTrader 4 Platform on your PC.
- Click the File Menu & Select Open an Account.
- Choose The Live Account Option.
- Fill in the live account opening form.
- Enter you account login details for the Demo practice trade account.
- Trade Forex Currencies from the free MT4 charts provided.
How Do I Start Trading on MT4? - MT4 Platform Introduction Tutorial Guide
The following image below shows the main MT4 inter-face. As a beginner trying to learn how to execute orders in the online market, the main tool for trading in online market is the MT4 platform software. This is the software which you will connect to your online broker & execute trades and monitor your account balance from the MT4 software software.
The MetaTrader 4 platform software is provided for free of charge through various broker websites. This MT4 resembles the examples below:
How Do I Get Started with MT4 Platform? - Trading Account MetaTrader 4 Download
Main Areas of this MT4 as illustrated above are:
- Navigation Menus
- Tool-Bars
- Chart Window
- Navigator Window
- Market Watch Window
- Terminal Window
- Connection Bars
For this MetaTrader 4 tutorial we shall look at a brief introduction for each of these how to use MT4 guides:
1. Navigation Menus
The navigation menus are:
- File Menu
- View Tab
- Insert Tab
- Charts Tab
- Tools Tab
- Window Tab
- Help Tab
These are main navigation menus that can be used to navigate the MetaTrader 4 software platform. As a beginner trader you can start by clicking any of these navigation menus to familiarize yourself with various buttons that are arranged as sub-menus within these navigation menus.
These navigation menus will be described in details in the next MetaTrader 4 tutorial for beginner traders about navigation menus.
2. Tool Bars
This how to trade in Meta Trader 4 explains the tool-bars are used to manipulate charts, either by placing indicators, line studies, change chart timeframes & load an Meta Trader 4 template from a list of saved templates.
These tool bars will be discussed on other how to use MetaTrader 4 guides which will outline each button on this tool bar & how to add and customize these tool bars.
3. Chart Window
This is the workspace area where forex currency charts are displayed and a trader can interpret the trend direction of a currency chart whether up or down, place indicators on charts for technical analysis and even place orders from these charts.
4. Navigator
Navigator MT4 tutorial will contain information about accounts, whether practice MT4 account or real Meta Trader 4 account, this window will also have a list of all the MT4 technical indicators as well as Expert Advisors & scripts.
A trader can choose which account to log in to by expanding the Accounts menu, select an indicator by expanding the indicator menu or choose an EA by expanding the Expert Advisor menu.
5. Market-Watch
Market watch forex trading Meta Trader 4 guide - Market watch window is used to show realtime quotes for currency pairs. This panel can listing as many trade quotes that are provided by your online broker or a few that are chosen by a trader. To save inter-net band-width, right click inside the market watch window and select 'Hide All', to hide the currency pairs that you are not trading & save on inter-net bandwidth.
6. Terminal
This is window that's like the bank account trade area for your currency trades, on this panel you can view your trading account equity balance, profit and losses statement, equity, margin used and also to retrieve a copy of all your trades history.
This also will list all open trade transactions & calculate all the profit & loss in real time as a currencies move up/down.
7. Connectivity Bar
Red bars are for no connectivity, green bars show that there connection to the servers and trading orders can be placed. These connection bars should always be green when one is logged into their MetaTrader 4 practice account or Meta Trader 4 live account.
These main areas form the MT4 Software interface & will be the main areas to be covered in detail in the next learn MT4 software courses. For now it's best to download MT4 platform and familiarize yourself with the software interface.
Why Software is Required for Opening Currency Trade trades with Brokers
Platform is the software which is used to access the currency market & interpret these currencies using technical analysis charts. There are various reasons why one requires to use a good platform. A good platform can determine if a as a trader you make a profit or not.
So why does a trader need a good Platform:
To connect to the Server:
To place order one needs to use a platform which will connect to the servers of their broker and allow them to open & close orders. Good platforms will connect with ease to the brokers' servers and allow traders to place orders at any time from desktop computer.
To analyze charts & currencies using technical analysis
To place buy or sell order one needs to first analyze the direction of a forex pair. This is why all good softwares provide technical analysis tools such as price charts, trading indicators & various different chart time frames from which a trader can interpret price moves using the chart timeframes of their choice.
How Do I Use MetaTrader 4 Course - Account MetaTrader 4 Download
From the above MT4 software inter-face, summary of all information required by a trader is provided on this MT4 interface
- Connection - connectivity to the broker servers
- Charts - price graphs that display prices
- Tool-Bars - tool bars to add technical analysis tools and technical analysis indicators
- Market Watch - for displaying available financial instruments
- Data window - provides account data and other indicator data
- Exchange rates - shows current market price of a currency pair
- Menu bar - Shows all menu items on the platforms
How Do I Use MetaTrader 4 Course - Account MetaTrader 4 Download
