How Do I Use MT5 Learn Platform Guide?
How Do You Use MT5 Learn Software Tutorial?
To start trading with the MT5 software, you need to follow steps listed below:
Trading Account MT5 Download
Install MetaTrader 5 Platform on Your PC. Open a account in MT5 platform. Log in to MT5 Account with your account sign in details Open Charts and place Trades using the MT5 Platform.
Account MT5 Download
After you Download MT5 Platform from your broker you will then need to open a MT5 Account to trade with.
How Do You Open a Demo Account using MetaTrader 5?
- Download MT5 Software - MT5 Platform Software.
- Setup MetaTrader 5 Platform.
- Open the MT5 Platform Software.
- Enter the Log in Details: Account Name & Password for the Demo Trade Account
- Open Charts and start practice trading.
- If you do not have a practice trade account you can register for a demo trade account using the File menu, Click New Practice Account Registration and enter your details and sign up for an MT5 forex account.
How Do You Open a Real Account in MetaTrader 5?
- Download MT5 Software
- Setup MetaTrader 5 Platform on your PC.
- Open the MT5 Platform on your PC.
- Click on the File Menu and Choose Open an Account.
- Select The Real Account Option.
- Fill in the real account opening form.
- Enter you account sign in details for the Demo practice trading account.
- Trade instruments from the free MT5 charts provided.
How Do You Start Trading on MetaTrader 5?
The following screen-shot below shows the main MetaTrader 5 platform inter-face. As a beginner trying to learn how to execute orders in the online market, the main tool for trading online market is the MT5 software software. This is the software which you'll connect to your online broker & execute trade transactions and monitor your account balance from the MT5 platform.
The MT5 software is provided for free through the various broker websites. This MetaTrader 5 software resembles the example below:
How Do I Use MT5 Learn Platform Guide?
Main Areas of this MT5 as shown above are:
- Navigation Menus
- Tool Bars
- Chart Window
- Navigator Window
- Market Watch Window
- Terminal Window
- Connection Bars
For this MT5 tutorial we shall look at a brief introduction for each of these how to use MetaTrader 5 lessons:
1. Navigation Menus
The navigation menus are:
- File Menu
- View Menu
- Insert Menu
- Charts Menu
- Tools Menu
- Window Menu
- Help Menu
These are main navigation menus that can be used to navigate the MT5 platform. As a beginner you can begin by just clicking any of these navigation menus to familiarize yourself with the various buttons that are arranged as sub-menus within these navigation menus.
These navigation menus will be discussed and described in details in the next MT5 guide for beginner traders about navigation menus.
2. Tool-Bars
This how to trade in Meta Trader 5 explains the tool bars are used to manipulate charts, either by placing indicators, line studies, change chart timeframes & load an Meta Trader 5 template from a list of saved templates.
These MT5 forex tool bars will be discussed on other how to use MetaTrader 5 forex guides which will outline each button on this tool bar & how to add & customize these toolbars.
3. Chart Window Panel
This is the workspace area where charts are displayed and a trader can interpret the trend direction of a chart whether up or down, place MT5 indicators in MetaTrader 5 forex charts for technical analysis and even place orders from these charts.
4. Navigator
Navigator Meta Trader 5 guide will contain info about accounts, whether demo MT5 forex account or real MT5 forex account, this window will also have a list of all the MT5 indicators as well as Expert Advisors and scripts.
A trader can select which account to log in to by expanding the Accounts menu, choose an indicator by expanding the indicator menu or choose an Expert Advisor by expanding the EA menu.
5. MarketWatch
Market watch MT5 forex guide - Market watch window is used to show realtime quotes for instruments. This window can listing as many symbols provided by your online broker or a few that are selected by a trader. To save inter-net band-width, right click inside the market watch window and select 'Hide All', so as to hide the instruments that you aren't trading and save on inter-net band-width.
6. Terminal
This is window that's like the bank account trade area for your trades, on this window you as a trader can view your account balance, forex profit & losses statement, forex equity, fx margin used, also to generate a copy of your transaction history.
This also will list all open trade transactions and calculate all the profit and loss in realtime as a instruments move upward or downwards.
7. Connectivity Bar
Red bars are for no connection, green bars show that there is connection to the servers & forex trading orders can be placed. These connection bars should always be green when one is logged into their MT5 practice account or Meta Trader 5 live account.
These main areas form the MT5 Software interface & will be the main areas to be covered in detail in the next learn MT5 software guides. For now it's best to download MT5 software & familiarize yourself with the software interface.
Why Platform is Required for Placing Symbol Trade trade transactions with Brokers
Trading software is software that's used to access the market and interpret these instruments 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 & allow them to open and 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 & instruments using technical analysis
To open a buy or sell order one needs to first interpret direction of a instrument. This is why all good platforms provide technical forex tools such as price charts, trading indicators & various different chart time frames from which a trader can analyze price moves using the time frames of their choice.
How Do I Use MT5 Learn Software Tutorial?
From the above MT5 software inter-face, summary of all information required by a trader is provided on this MT5 platform interface
- Connection - connectivity to the broker servers
- Charts - forex price graphs that display prices
- Toolbars - toolbars to add technical analysis tools and technical analysis indicators
- Market Watch - for displaying available instruments
- Data window - provides account data & other indicator data
- Exchange rates - shows current market price of a instrument
- Menu bar - Shows all menu items on the platforms
How Do I Use MT5 Guide
How Do I Use MT5 Learn Platform Guide?
