Introduction to MetaTrader 4 Interface

The following screenshot below shows the main MT4 software interface. As a beginner trying to learn how to execute orders in the online currency market, the main tool for trading the market is the MT4 platform software. This MetaTrader 4 platform is the software that you'll connect to your broker with and execute trade transactions and monitor your account balance from the MetaTrader 4 platform.

The MT4 software software is provided for free through the various broker web sites. This MetaTrader 4 software looks like the examples below:

Main Areas of this MetaTrader 4 platform as displayed above are:

1. MT4 Navigation Menus
2. Toolbars
3. MetaTrader 4 Chart Window
4. MetaTrader 4 Navigator Window
5. MT4 Market Watch Window
6. MetaTrader 4 Terminal
7. MetaTrader 4 Connection Bars

For this MT4 lesson we shall take look at a brief intro for each of these learn MT4 software:

1. Navigation Menus

The MT4 navigation menus are:

1. File
2. View
3. Insert
4. Charts
5. Tools
6. Window
7. Help

These are the main MetaTrader 4 navigation menus that can be used to navigate the MetaTrader 4 platform. As a beginner you can begin by clicking any of these MT4 navigation menus to familiarize yourself with the various MT4 buttons that are arranged as MetaTrader 4 sub-menus within these MT4 navigation menus.

The MT4 navigation menus will be covered in details in the next Meta Trader 4 lessons about navigation menus.

2. Toolbars

The MT4 tool-bars are used to manipulate MetaTrader 4 charts, either by placing MT4 technical indicators, Meta Trader 4 line studies, change MetaTrader 4 chart timeframes & load MetaTrader 4 template from a list of saved MT4 templates.

The MT4 tool-bars will be discussed on other MT4 tutorials which will outline each MetaTrader 4 button key on this MetaTrader 4 toolbar & how to add and customize these MetaTrader 4 toolbars.

3. Chart Window Panel

This MetaTrader 4 chart window is the main area where MetaTrader 4 currency charts are highligthed and one can analyze the trend direction of a MetaTrader 4 chart whether up or down, place MT4 chart indicators for technical analysis and even place orders from these MetaTrader 4 charts.

4. Navigator

Meta Trader 4 Navigator will contain information about Meta Trader 4 accounts, whether practice or real, this MT4 window will also have a list of all the MT4 indicators as well as MetaTrader 4 Expert-Advisors and scripts.

One can choose which MetaTrader 4 account to login by expanding the Accounts menu, choose an MetaTrader 4 technical indicator by expanding the MetaTrader 4 technical indicator menu or choose an MetaTrader 4 Expert-Advisor by expanding the Automated Expert-Advisor menu.

5. Market Watch

Meta Trader 4 Market watch panel is used to show streaming currency quotes for MT4 currency pairs. This can list as many quotes provided by your MetaTrader 4 broker or a few chooseed by a trader. To save inter net bandwidth, right-click inside the MT4 market watch panel and choose "Hide All", so as to hide the currencies that you're not transacting on this MT4 software and save on internet band width.

6. Terminal

This is MetaTrader 4 window panel that's like the bank account trade area for your MetaTrader 4 currency trade transactions, on this MetaTrader 4 window you can view your account balance, profit and losses statement, equity, margin used also retrieve a copy of all your Meta Trader 4 trade transactions history.

This MetaTrader 4 window panel will also list all open trade transactions and calculate all the profit and loss in real time as the currencies move up or down.

7. Connection Bar

Meta Trader 4 connection bars - Red bars are for no online connectivity, green bars show that there's connectivity to the servers and MetaTrader 4 trade orders can be placed. These MetaTrader 4 connection bars should always be green when one logged into their MT4 demo account or Meta Trader 4 live account.

The MT4 software main areas form the MetaTrader 4 platform interface and will be the main areas to be covered in detail in next learn MT4 tutorials. For now it's best to download MetaTrader 4 software software & familiarize yourself with the MetaTrader 4 platform interface.

Why Software is Required for Placing Currency Transactions with Brokers

Platform is the software that is used to access the currency market & interpret these currencies using charts and analysis tools. There are various reasons why one requires to use a good platform. A good software can ascertain if a as a trader you make profit or not.

So why does a Trading trader need a good Platform:

To connect to the Broker ++##++Trading Server:

To place a trade order one needs to use a software that will connect to the servers of their broker and this will allow them to open and close trade orders. Good softwares will connect with ease to the brokers' servers & allow traders to place orders at any time from desktop computer.

To analyze charts and currencies using analysis tools

To place a buy or sell order one needs to first interpret direction of currency pair using charts. This is why all good softwares provide technical tools such as price charts, indicators and various different chart timeframes from which one-can analyze price moves using the chart time frames of their choice.

From the above platform inter-face, summary of all data required by a trader is provided on this MetaTrader 4 platform interface

• Connection - connection to the online broker servers
• Charts - price graphs that show prices
• Toolbars - tool bars to add tools and technical analysis indicators on charts
• Market Watch - for displaying available financial instruments in MetaTrader 4
• Data window - provides MetaTrader 4 account data & other indicator data
• Exchange rates - shows current market price of a currency pair
• Menu bar - Shows all menu items in MetaTrader 4 platform