Introduction to MT4 Interface

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

The Forex MetaTrader 4 software is provided for free through the various Forex broker sites. This MT4 forex software looks like the example below:

The Main Areas of this MT4 software as displayed above are:

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

For this MT4 tutorial we shall look at a brief intro for each of these learn forex 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 which can be used to navigate MT4 software. As a beginner trader you can start by clicking any of these MT4 navigation menus so as to familiarize yourself with various MetaTrader 4 button keys which are arranged as MetaTrader 4 submenus within these MT4 navigation menus.

The MT4 navigation menus will be described & covered in details in the next MT4 tutorials about navigation menus.

2. Tool-Bars

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

These MT4 tool-bars will be discussed on other MT4 guides that will outline each MT4 button on this MT4 toolbar & how to add and customize these MT4 toolbars.

3. Chart Window Panel

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

4. Navigator

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

One can choose which MetaTrader 4 account to login by expanding the Accounts menu, choose an MT4 indicator by expanding the MT4 indicator menu or choose an MT4 EA by expanding the EA menu.

5. Market Watch

MetaTrader 4 Market watch is used to show streaming currency quotes for MT4 currency pairs. This can list as many quotes provided by your MT4 Forex broker or a few chosen by a trader. To save inter net band width, right-click inside the MT4 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 inter-net band width.

6. Terminal

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

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

7. Connection Bar

MetaTrader 4 connection bars - Red bars are for no online connectivity, green bars show that there's connectivity to the servers and MetaTrader 4 forex trade orders can be placed. These MetaTrader 4 connection bars should always be green when one logged into their MT4 practice account or MT4 live account.

The MT4 software main areas form the MT4 software interface & will be the main areas to be covered in detail in next learn MT4 guides. For now it's best to download MT4 software software and familiarize yourself with MT4 software interface.

Why Forex Trading Software is Required for Placing Currency Transactions with Forex Brokers

Forex platform is the software which is used to access the currency market and interpret these currencies using forex charts and forex analysis tools. There are various reasons why one requires to use a good platform. A good software can ascertain if a as a trader you make profit or not.

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

To connect to the Forex Broker Trading Server:

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

To analyze forex charts & currencies using forex analysis tools

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

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

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