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