How Do You Use MT4 Learn Platform Guide?
How Do You Use MT4 Learn Software Tutorial?
To begin trading with MetaTrader 4 platform, you need to follow steps listed below:
Account Meta Trader 4 Download
Setup MetaTrader 4 on Your PC. Open a account in MT4. Log in to MT4 Account with your account sign-in credentials Open Charts and place Trades using the MetaTrader 4 Software.
Account Meta Trader 4 Download
After you Download Meta Trader 4 Platform from your broker you will then need to open a MT4 Account to trade with.
How Do You Open a Demo Account using MetaTrader 4?
- Download Meta Trader 4 Platform - MT4 Platform.
- Setup the MetaTrader 4 Platform Software.
- Open the MT4 Platform Software.
- Enter the Log in Details: Account Name and Password for the Demo Trade Account
- Open Charts & begin practice trading.
- If you do not have a practice account you can register for a demo trade account using the File menu, Click New Practice Account Registration and enter your details & register for an MT4 account.
How Do You Open a Real Account in MetaTrader 4?
- Download Meta Trader 4 Platform Software
- Setup MT4 Software on your PC.
- Open the MT4 Software on your PC.
- Click the File Menu and Select Open an Account.
- Select The Live Account Option.
- Fill in the real account registration form.
- Enter you account login details for the Demo practice trade account.
- Trade instruments from the free MT4 charts provided.
How Do You Start Trading on MetaTrader 4?
The following image below shows the main MT4 software inter-face. As a beginner trader trying to learn how to execute orders in the online market, the main tool for trading in online market is the MetaTrader 4 software software. This is the software which you will connect to your online broker & execute trades and monitor your account balance from the MetaTrader 4 software software.
The MetaTrader 4 platform software is provided for free of charge through various broker websites. This MetaTrader 4 resembles the examples below:
How Do You Use MetaTrader 4 Learn Software Guide?
Main Areas of this MetaTrader 4 software as displayed above are:
- Navigation Menus
- Tool-Bars
- Chart Window
- Navigator Window
- Market Watch Window
- Terminal Window
- Connection Bars
For this MT4 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 MT4. As a beginner trader 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 described in details in the next MT4 guide for beginner traders about navigation menus.
2. Tool Bars
This how to trade on MetaTrader 4 explains the tool bars are used to manipulate charts, either by placing indicators, line studies, change chart timeframes and load an MT4 template from a listing of saved templates.
These MT4 forex tool bars will be discussed on other how to use MetaTrader 4 forex 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 charts are displayed and a trader can interpret the trend direction of a chart whether up or down, place MT4 indicators in MetaTrader 4 charts for technical analysis and even place orders from these charts.
4. Navigator
Navigator MT4 tutorial will contain information about accounts, whether demo MetaTrader 4 account or real MT4 account, this window will also have a list of all the MT4 indicators as well as Automated Expert-Advisors and scripts.
One can select which account to login to by expanding the Accounts menu, select an indicator by expanding the indicator menu or choose an EA by expanding the Automated Expert-Advisor menu.
5. Market-Watch
Market watch MT4 forex tutorial - Market watch panel is used to show real-time quotes for instruments. This panel can listing as many trade quotes that are provided by your broker or a few that are chosen by a trader. To save inter-net bandwidth, right click inside the market watch window and select 'Hide All', to hide the instruments that you are not trading and save on inter-net bandwidth.
6. Terminal
This is panel that is like the bank account trade area for your trades, on this panel you can view your account balance, forex profit and losses statement, forex equity, forex margin used, also to retrieve a copy of your transaction history.
This will also list all open trade transactions and calculate all the profit & loss in realtime as a instruments move upward or downwards.
7. Connectivity Bar
Red bars are for no connectivity, green bars show that there connection to the servers & trading orders can be placed. These connection bars should always be green when one is logged into their MT4 demo account or Meta Trader 4 live account.
The main areas form the MetaTrader 4 Software interface & will be the main areas to be covered in detail in the next learn MetaTrader 4 software tutorials. For now it is best to download MT4 platform and familiarize yourself with the software interface.
Why Software is Required for Opening Symbol Trade trades with Brokers
Forex software is software that is used to access the market & interpret these instruments using 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 Software:
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 and instruments using 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 chart time-frames of their choice.
How Do I Use MT4 Learn Software Guide?
From the above MT4 software inter-face, summary of all information required by a trader is provided on this MT4 software interface
- Connection - connectivity to the broker servers
- Charts - price graphs that display prices
- Tool-Bars - tool-bars to add technical analysis tools & technical analysis indicators
- Market Watch - for displaying available instruments
- Data panel - provides account data & other indicator data
- Exchange rates - shows current market price of a instrument
- Menu bar - Shows all menu items on the softwares
How Do You Use MT4 Guide
How Do I Use MT4 Learn Software Guide?
