How to Trade on MT4 - How to Use MT4 Tutorial PDF - Forex MetaTrader 4 Download
The following MT4 Forex Trading Platform screen shot below shows Metaquotes MT4 Platform. As a beginner trader trying to learn how to trade the forex trading market - the first you will need to learn is How to Use MT4 Platform - How to Trade in MT4 - How Do I Trade on MetaTrader 4 - How to Use MT4 Tutorial PDF: Forex MT4 Download. MT4 Forex Trading Platform is the forex trading platform software that you will use to connect to your online forex trading broker with & execute forex trade transactions & monitor your forex account balance.
The MetaTrader 4 is provided for free byMT4 Forex brokers. Forex Course MT4 - This MT4 platform platform looks like example below:
Main Areas of this MetaTrader 4 Forex Trading Platform as described above are:
- Navigation Menus
- Toolbars
- Chart Window
- Navigator
- Market Watch
- Terminal
- Connection Bars
Forex Course MT4 - How to Use MT4 Tutorial PDF:
1. Navigation Menus
The navigation menus are:
- File
- View
- Insert
- Charts
- Tools
- Window
- Help
These are the main MT4 navigation menus which can be used to navigate the MetaTrader 4 platform.
These navigation menus will be discussed in details in the next How to Use MT4 Tutorial about navigation menus.
2. Toolbars
The MT4 tool bars are used to place forex tools on forex charts, forex traders can place indicators on MT4 charts, place line studies on MT4 forex charts, change forex chart time frames and load a saved MT4 template from a list of saved templates.
These MT4 tool bars will be discussed on other How to Use MT4 Tutorials which will outline each button on each MT4 tool bar and explain how to add and customize these tool bars on the MetaTrader 4 platform.
3. Chart Window Panel
This is the main MT4 platform area where forex charts are displayed and a trader can interpret the trend direction of a forex chart whether up or down, place forex indicators for technical analysis and even place orders from these forex charts.
4. Navigator
Navigator panel will contain data about forex accounts, whether demo account or real account, this window will also have a list of all the MetaTrader 4 technical indicators as well as Expert Advisors & scripts.
A trader can choose which forex account to login by expanding the Accounts menu, choose an technical indicator by expanding the indicator menu or chose an Expert Advisor by expanding the Expert Advisor menu.
5. Market Watch
Market watch is used to show streaming forex quotes for currency pairs. This Market Watch window can list as many forex quotes provided by your Forex broker or a few chosen by a trader.
6. Terminal
This is the window panel that is like the forex account transaction area for your forex trade transactions, on this window you can view your balance, profit and losses statement, equity, margin used also retrieve a copy of all your forex trade transactions history.
This will also list all open transactions and calculate all the profit and loss in real time as a currencies move up or down.
7. Connection Bar
Red bars are for no connectivity, green bars show that there is connection to the servers & forex trade orders can be placed. These connection bars should always be green when a trader is logged into their forex demo account or live forex account.
These main areas form the MT4 interface and will be the main areas to be covered in detail in the next How to Use MT4 Tutorial. For now it is best to download MT4 platform and familiarize yourself with the MT4 platform interface.
Why Forex Trading Software is Required for Placing Forex Trade Transactions with Brokers
Forex platform is the software which is used to access the forex trading market and interpret these currencies using technical analysis forex indicators and tools. There are various reasons why one requires to use a good forex platform. A good forex trading software can determine if a as a trader you make profit or not.
So why does a Forex Trading trader need a good platform:
To connect to the Trading Server:
To place a forex order a trader needs to use a forex trading software which will connect to the trading servers of their forex broker & allow them to open & close orders. Good forex trading softwares will connect with ease to the brokers' servers & allow forex traders to place forex orders at any time from desktop computer.
To analyze forex charts & currencies using technical analysis indicators
To place buy or sell order a trader needs to first analyze the direction of a currency pair. This is why all good forex trading softwares provide forex technical analysis tools such as forex price charts, forex indicators & various different chart timeframes from which trader can analyze price moves using the forex chart time frames of their choice.
From above MetaTrader 4 Forex Trading Platform inter-face, the summary of all data required by a trader is provided on this MetaTrader 4 Forex Trading Platform interface
- Connection - connection to the broker servers
- Charts - forex price graphs that display prices
- Tool-bars - toolbars to add forex tools and forex technical analysis technical indicators
- Market Watch - for displaying available financial instruments
- Data window - provides forex account data & other indicator data
- Exchange rates - shows current market price of a forex currency pair
- Menu bar - Shows all menu items on the MT4 Platform
