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