How Metals Market Trading Platform Works?

Advanced Software - How to Analyze The Metals Market With Metals Platform

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

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

Main Areas of this MetaTrader 4 metal software as illustrated above are:

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

For this MT4 tutorial we shall look at a brief introduction for each of these learn metals 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 MT4 metals software. As a beginner metals trader you can begin by clicking any of these MetaTrader 4 navigation menus to familiarize yourself with various MetaTrader 4 buttons which are arranged as MT4 sub-menus within these MetaTrader 4 navigation menus.

These MT4 navigation menus will be explained and covered in details in the next MT4 guides about navigation menus.

2. Toolbars

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

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

3. Chart Panel

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

4. Navigator

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

A trader can select which MetaTrader 4 account to login by expanding the Accounts menu, choose an MetaTrader 4 indicator by expanding the MetaTrader 4 indicator menu or choose an MetaTrader 4 EA by expanding the EA menu.

5. Market Watch

MT4 Market watch is used to show streaming currency quotes for MetaTrader 4 currency pairs. This can list as many quotes provided by your MetaTrader 4 Metals broker or a few selected by a trader. To save inter net band width, right click inside the MetaTrader 4 market watch window and select 'Hide All', so as to hide the currencies that you are not transacting on this MT4 platform and save on internet bandwidth.

6. Terminal

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

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

7. Connection Bar

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

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

Why Metal Software is Required for Placing Currency Transactions with Metals Brokers

Metals platform is software that's used to access the currency market & interpret these currencies using metals charts and metal technical analysis tools. There are various reasons why a trader requires to use a good metal trading platform. A good metal trading platform can determine if a as a trader you make a profit or not.

So why does a trader need a good Metals Trading Software:

To connect to the Metals Broker Trading Server:

To place a metals trade order a trader needs to use a metals platform which will connect to the trading servers of their metals broker & this will allow them to open & close metals trade orders. Good metals platforms will connect with ease to the brokers' servers and allow metals traders to place metals orders at any time from their desktop computer PC.

To analyze metals charts and currencies using metals trading analysis tools

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

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

• Connection - connection to the broker servers
• Charts - price graphs that display metals prices
• Toolbars - toolbars to add tools and technical analysis indicators on metals trading charts
• Market Watch - for displaying available instruments on MT4 platform
• Data panel - provides MetaTrader 4 metals account information & other metals trading indicator data
• Exchange rates - shows current market price of a currency pair
• Menu bar - Shows all menu items on the MT4 platform