Introduction to MetaTrader 4 Interface

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

The MT4 platform is provided for free through the various broker web sites. This MetaTrader 4 platform resembles the examples below:

Main Areas of this MT4 as shown above are:

1. MetaTrader 4 Navigation Menus
2. Tool Bars
3. MT4 Chart Window
4. MetaTrader 4 Navigator Window
5. MetaTrader 4 MarketWatch Window
6. MetaTrader 4 Terminal
7. MT4 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 MetaTrader 4 navigating menus are:

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

These are the main MetaTrader 4 navigation menus which can be used to navigate the MT4 software. As a beginner you can begin by clicking any of these MT4 navigating menus to familiarize yourself with various MetaTrader 4 buttons which are organized as MetaTrader 4 submenus within these MetaTrader 4 navigating menus.

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

2. ToolBars

The MetaTrader 4 toolbars are used to manipulate MetaTrader 4 charts, either by placing MetaTrader 4 technical indicators, MT4 line studies, change MetaTrader 4 chart time-frames & load MetaTrader 4 template from a list of saved MT4 templates.

The MetaTrader 4 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

This MetaTrader 4 chart window is the main area where MT4 currency charts are highlighted and one can analyze the trend direction of a MetaTrader 4 chart whether upward or downward, place MT4 chart trading indicators for trading 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 MetaTrader 4 window will also have a list of all the MT4 trading indicators as well as MetaTrader 4 EAs & scripts.

One can select which MetaTrader 4 trading account to login by expanding the Trading Accounts menu, select an MT4 indicator by expanding the MT4 indicator menu or select an MT4 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 listing as many trade quotes provided for by your MT4 broker or a couple of selected by a fx trader. To save internet bandwidth, right-click inside the MT4 market watch panel and choose "Hide All", to hide the currencies that you are not transacting on this MetaTrader 4 platform & save on internet band width.

6. Terminal

This is MT4 panel that's like the bank trading account trade area for your MetaTrader 4 currency trade positions, on this MetaTrader 4 panel you can view your account balance, profit & losses statement, equity, margin used & also generate a copy of all your MetaTrader 4 trades history.

This MetaTrader 4 window panel will also list all open trade transactions & calculate all the profit & loss in real time as the currencies move up/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 MT4 trade orders can be opened. These MT4 connection bars should always be green when one logged into their MetaTrader 4 demo trade account or MT4 real account.

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

Why Software is Required for Placing Currency Transactions with Brokers

Platform is the trading platform that is used to access the currency market and interpret these currencies using charts and analysis tools. There are different reasons why one requires to use a good platform. A good software can determine if a as a forex 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 and allow traders to place orders at any time from desktop computer.

To analyze charts & currencies using analysis tools

To open a buy/sell order one needs to first interpret direction of currency pair using charts. This is why all good softwares provide technical trading tools such as charts, indicators & various different time frame from which a trader can analyze price moves using the time frame of their choice.

From the above platform interface, summary of all data required by a trader is provided on this MT4 interface

• Connection - connection to the broker servers
• Charts - price graphs that show prices
• Tool-Bars - toolbars to add tools & technical analysis indicators on the charts
• Market Watch - for displaying available financial instruments in MetaTrader 4
• Data window - provides MT4 account data & other technical indicator data
• Exchange rates - shows the ruling market price of a forex pair
• Menu bar - Shows all menu items in MetaTrader 4 software

Learn More Lessons & Tutorials:

• List of Forums for Gold Traders
• What is Minimum Amount to Trade SWI 20 Index?
• How Can I Use MetaTrader 4 ATR Indicator on MetaTrader 4 Software?
• List of Trade Strategies to Trade FRA 40 & List of FRA 40 Strategies
• Stochastic Overbought Levels & Oversold Levels Signals
• What is the Difference between Market Order & Stop Order & Limit Order?
• How to Use MetaTrader 4 Balance of Power BOP Indicator on MetaTrader 4 Software