MT4 CFDs Platform Setup
If you want to learn how to setup the MT4 cfds software this cfd tutorial guide explains the cfd step by step guide on how to setup MT4 CFD Platform for beginners with examples.
The following screen-shot below shows the main MT4 cfds trading platform inter-face. As a beginner cfd trader trying to learn how to execute orders in online cfd market, the main tool for trading the cfd market is the MetaTrader 4 cfds trading platform software. This is the cfd software that you will connect to your cfd broker with & execute cfd transactions and monitor your trading account balance.
The MetaTrader 4 cfds platform for trading cfd is provided for free through the various cfds broker websites. This MT4 software looks like the cfd example shown below:
Learn MetaTrader 4 CFD Platform - MT4 CFD Platform Setup
Main Areas of this MT4 cfds platform as illustrated above are:
- Navigation Menus
- Toolbars
- Chart Window
- Navigator
- Market Watch
- Terminal
- Connection Bars
For this MetaTrader 4 CFD Platform Setup tutorial we shall look at a brief introduction for each of these:
1. MT4 Navigation Menus MT4 CFD Platform Setup
The MT4 navigation menus are:
- File
- View
- Insert
- Charts
- Tools
- Window
- Help
These MT4 menus are main navigation menus that can be used to navigate the MT4 cfds trading software. As a cfd beginner you can start by just clicking any of these MT4 cfds trading platform navigation menus to familiarize yourself with various button keys that are arranged as submenus within these navigation menus.
These MT4 cfds trading platform navigation menus will be discussed in details in the next MT4 software setup tutorials about navigation menus.
2. MT4 Tool Bars MT4 CFD Platform Setup
The MetaTrader 4 tool bars are used to manipulate trading charts, either by placing indicators, line studies, change time frames and load a template from a list of saved templates on the MT4 platform.
These MT4 tool bars will be discussed on other MT4 software setup tutorials which will outline each button on this tool bar and how to add and customize these MT4 tool bars.
3. MT4 CFDs Chart Window MT4 CFD Platform Setup
MetaTrader 4 CFDs Chart Window Panel is the main area where cfd charts are displayed & trader can analyze the cfd trend direction of a cfd trading instrument whether up or down, place cfd indicators for technical analysis and even place trading orders from these cfds trading charts.
4. MT4 Navigator MT4 CFD Platform Setup
MetaTrader 4 Navigator will contain information about cfd accounts, whether demo cfd account or real account, this window will also have a list of all the MT4 indicators as well as Expert-Advisors and scripts.
A trader can choose which trading account to sign in by expanding the Accounts menu, select an technical indicator by expanding the technical indicator menu or choose an EA by expanding the Expert-Advisor menu.
4. MT4 Market Watch MT4 CFD Platform Setup
MetaTrader 4 Market watch is used to show streaming quotes for trading instruments. This can list as many quotes provided by your cfd broker or a few chosen by a cfd trader. To save inter-net bandwidth, right-click inside the cfd market watch window and select 'Hide All', so as to hide the MT4 symbols that you are not transacting and save on inter-net bandwidth.
6. MT4 Terminal MT4 CFD Platform Setup
This is the window panel that's like the bank account trade area for your cfd trades, on this window you can view your balance, profit & losses statement, equity, margin used also retrieve a copy of all your cfds trades transactions history.
This will also list all open trades & calculate all the profit and loss in real-time as the cfds prices move upward or downwards.
7. MT4 Connection Bar MT4 CFD Platform Setup
Red bars are for no connectivity, green bars show that there's connectivity to the servers and trade orders can be set. These MT4 connection bars should always be green when one logged into their demo cfd account or real account.
These main areas form the MT4 Platform Setup tutorial and will be the main areas to be covered in detail in the next learn MT4 cfds platform tutorials. For now it is best to download MT4 software and familiarize yourself with MetaTrader 4 software interface.
Why MT4 CFD Software is Required for Placing CFD Trade Transactions with Brokers
MT4 cfds trading platform is software that is used to access the cfd market and interpret these cfds price movements using technical analysis. There are various reasons why a trader requires to use a good cfd platform. A good cfd platform can determine if a as a trader you make profit or not.
So why does a trader need a good platform:
To connect to the Trading Server:
To place an order when trading online a trader needs to use a platform that will connect to the trading servers of their cfd broker & allow them to open and close orders. Good cfd platforms will connect with ease to the brokers' servers & allow traders to place orders at any time from desktop PC computer.
To analyze cfds charts using technical analysis
To open buy or sell order one needs to first interpret direction of a cfd. This is why all good cfd platforms provide technical tools such as cfds price charts, indicators & various different time frames from which trader can analyze cfds price moves using the chart timeframes of their choice.
MT4 CFDs Platform Setup
From above MetaTrader 4 cfds trading platform inter-face, the summary of all data required by a trader is provided on this MetaTrader 4 interface
- Connection - connection to the broker servers
- Charts - price charts that display cfds prices
- Toolbars - toolbars to add tools and technical analysis cfd indicators
- Market Watch - for displaying available financial instruments
- Data window - provides cfd account information & other technical cfd technical indicator data
- Exchange rates - shows current market cfds price on a cfds trading chart
- Menu bar - Shows all menu items on the MT4 platform
MT4 CFDs Platform Setup
