How Do I Trade Stock Indices on MT4 Software
The following MT4 Trading Platform screen shot below shows MetaQuotes MetaTrader 4 Trading Platform. As a beginner trader trying to learn how to trade the market - the first you will need to learn is How to Use MetaTrader 4 Trading Platform - How to Trade Stock Indices on MT4 - How to Use MT4 Trading Software Guide: Indices MT4 Download. MT4 Trading Software is the platform software that you will use to connect to your online broker with & execute trade transactions and monitor your account equity balance.
The MetaTrader 4 is provided for free byMT4 brokers. Indices Trading Tutorial MT4 - This MetaTrader 4 software platform looks like the example explained below:
Main Areas of this MT4 as described above are:
- Navigation Menus
- Tool-Bars
- Chart Window
- Navigator
- Market Watch
- Terminal
- Connection Bars
Indices Trading Tutorial MT4 - How to Use MT4 Trading Platform Tutorial:
1. Navigation Menus
The navigation menus are:
- File Menu
- View Menu
- Insert Menu
- Charts Menu
- Tools Menu
- Window Menu
- Help Menu
These are the main MT4 navigation menus which can be used to navigate MT4 software.
These navigation menus will be discussed in details in the next How to Use MT4 Trading Software Lesson about navigation menus.
2. Tool-Bars
The MetaTrader 4 tool bars are used to place trading tools on charts, stock traders can place indicators on MetaTrader 4 charts, place line studies on MetaTrader 4 charts, change chart timeframes and load a saved MetaTrader 4 template from a list of saved templates.
These MT4 tool bars will be discussed on other How to Use MT4 Trading Platform Tutorials which will outline each button key on each MetaTrader 4 tool-bar & explain how to add and customize these tool bars in MT4 software.
3. Chart Panel Window
This is the main MetaTrader 4 platform area where charts are portrayed and a trader can analyze the trend direction of a chart whether upward or downward, place indicators for technical analysis and even place orders from these charts.
4. Navigator
Navigator panel will contain data about accounts, whether demo trading account or real account, this window will also have a list of all the MetaTrader 4 indicators as well as Expert Advisors & scripts.
One can choose which account to log in by expanding the Accounts menu, choose an indicator by expanding the indicator menu or chose an EA by expanding the EA menu.
5. MarketWatch
MarketWatch is used to display real-time stock quotes for indices. This Market Watch window can list as many stock quotes provided by your broker or few selected by a trader.
6. Terminal
This is the panel that's like the account transaction area for your trades, on this window you can view your trading account equity balance, profit and losses statement, equity, margin used and also retrieve a copy of all your trade transactions history.
This also will list all open transactions and calculate all the profit and loss in realtime as a prices move upward or downwards.
7. Connectivity Bar
Red bars are for no connectivity, green bars show that there's connection to the servers & trading orders can be opened. These connection bars should always be green when a trader is logged into their practice account or real account.
The main areas form the MT4 interface and will be the main areas to be covered in detail in the next How to Use MT4 Trading Platform Tutorial. For now it's best to download MetaTrader 4 platform and familiarize yourself with the MetaTrader 4 software inter-face.
Why Trading Software Platform is Required for Placing Trades with Brokers
Platform is software that's used to access the market and interpret these trading price movements using analysis indicators and tools. There are various reasons why one requires to use a good platform. A good software 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 Server:
To place a order a trader needs to use a software which will connect to the servers of their broker & allow them to open & close orders. Good platforms will connect with ease to the brokers' servers & allow stocks traders to place stocks trade orders at any time from their desktop computer PC.
To analyze charts using analysis technical indicators
To place buy or sell order one needs to first analyze the direction of stock indices. This is why all good softwares provide technical analysis tools such as trading price charts, indicators & various different time frames from which one-can analyze price moves using the time frames of their choice.
From above MetaTrader 4 Trading Platform inter-face, the summary of all information required by a trader is provided on this MetaTrader 4 Trading Software inter-face
- Connection - connection to the broker servers
- Charts - trading price graphs that display prices
- Tool-bars - tool-bars to add tools and technical analysis indicators
- Market Watch - for displaying available financial instruments
- Data window - provides account data and other indicator data
- Exchange rates - shows current market price
- Menu bar - Shows all menu items on MT4 Software
