Introduction to MetaTrader 4 Interface

The following screen shot below indicates the main MT4 platform software 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 MetaTrader 4 software.

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

Main Areas of this MetaTrader 4 as shown above are:

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

For this MetaTrader 4 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 MetaTrader 4 platform software. As a beginner you can begin by clicking any of these MetaTrader 4 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 MetaTrader 4 lessons about navigation menus.

2. Tool-Bars

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

The MetaTrader 4 tool-bars will be discussed on other MetaTrader 4 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 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 MetaTrader 4 accounts, whether practice or real, this MetaTrader 4 window will also have a list of all the MT4 trading indicators and also MetaTrader 4 Expert Advisors & scripts.

One can select which MetaTrader 4 trading account to login by expanding the Trade 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. MarketWatch

Meta Trader 4 Market watch panel is used to show and display real-time currency quotes for MetaTrader 4 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 software & save on internet band width.

6. Terminal

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

This MetaTrader 4 panel window will also list all open trades & 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 orders can be opened. These MetaTrader 4 connection bars should always be green when a trader is logged into their MT4 demo practice trade account or MT4 real account.

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

Why Platform Software is Required for Placing Currency Trade Positions with Brokers

Platform is the trading platform that's used to access the currency market & interpret & analyze these currencies using charts and analysis tools. There are different grounds why a trader 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 trader need a good Platform:

To connect to the Broker Trading Server:

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

To analyze & interpret 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 and like charts, indicators & various different time frame from which a trader can analyze price movements using the time-frame of their choice.

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

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

Learn More Lessons and Tutorials & 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 MT4 Software Platform?
• 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 Platform