Trade Bitcoin Trading

MT4 BTCUSD Crypto Currency Platform Setup

If you want to learn how to set-up the MT4 platform this bitcoin lesson explains the trading step by step guide on how to setup MT4 Bitcoin Platform for beginners with examples.

The following screen-shot below shows the main MT4 software inter-face. As a beginner bitcoin trader trying to learn how to execute trade orders in the online market, the main tool for transacting the btcusd cryptocurrency trading market is the MT4 platform software. This is the bitcoin software that you will connect to your crypto broker with & execute bitcoin transactions and monitor your equity balance.

The MT4 platform for bitcoin trading is provided free through the various btcusd broker sites. This Meta Trader 4 platform looks like the trading example illustrated below:

MT4 Bitcoin Platform Setup - How to Setup BTCUSD Software MT4 BTCUSD Platform

Learn MT4 Platform - MetaTrader 4 Software Setup - MT4 Software Course for Beginner Traders

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

  1. Navigation Menus
  2. ToolBars
  3. Chart Window
  4. Navigator
  5. Market Watch
  6. Terminal
  7. Connection Bars

For this MT4 Bitcoin Platform Setup guide we shall look at a brief introduction for each of these:

1. MetaTrader 4 Navigation Menus MT4 Platform Setup - MT4 Software Course for Beginner Traders

The MT4 navigation menus are:

  1. File Menu
  2. View Menu
  3. Insert Menu
  4. Charts Menu
  5. Tools Menu
  6. Window Menu
  7. Help Menu

These MetaTrader 4 menus are the main navigating menus which can be used to navigate the MT4 platform. As a bitcoin beginner you can start by just pressing any of these MT4 platform navigation menus to familiarize yourself with the various buttons which are grouped as sub menus within these navigation menus.

These MetaTrader 4 platform navigation menus will be discussed in details in the next MT4 software setup tutorials about navigating menus.

2. MT4 Tool Bars MT4 Bitcoin Platform Setup - MetaTrader 4 Bitcoin Software Course for Beginner Traders

The MT4 tool bars are used to manipulate charts, either by setting technical indicators, line studies, change time frames and load a template from a list of saved templates in the MetaTrader 4.

These MetaTrader 4 tool bars will be discussed on other MT4 software setup tutorials that will outline each button on this tool bar and how to add and customize these MT4 tool bars.

3. MT4 Bitcoin Chart Window MT4 Platform Setup - MT4 Software Course for Beginners

MT4 Bitcoin Chart Window is the main area where crypto charts are portrayed and trader can analyze the bitcoin trend direction of a instrument whether up or down, place indicators for trading analysis and even place orders from these bitcoin crypto currency charts.

4. MT4 Navigator MT4 Platform Setup - MT4 Software Course for Beginners

MT4 Navigator will contain information about accounts, whether practice bitcoin account or live account, this panel also will have a listing of all MT4 indicators as well as Expert Advisors and scripts.

A trader can select which trading account to sign in by expanding the Trading Accounts menu, select a technical indicator by expanding the trading indicator menu or select an EA by expanding the Expert Advisor menu.

4. MT4 Market Watch MT4 Platform Setup - MT4 Software Course for Beginner Traders

MT4 Market watch window is used to show streaming quotes for bitcoin crypto. This can listing as many symbols provided by your crypto broker or a few chosen by a bitcoin trader. To save inter-net band width, rightclick inside the btcusd trading market-watch panel & select "Hide All", so that to hide the MT4 symbols that you are not transacting and save on inter-net band width.

6. MT4 Terminal MT4 Platform Setup - MT4 Software Course for Beginner Traders

This is panel that's like the bank trading account trade area for your btcusd crypto currency trades, on this panel you can view your equity balance, profit and losses statement, equity, margin used & also to retrieve a copy of all your trade transactions transaction history.

This also will list all open trades & calculate all the profit & loss in real-time as the bitcoin prices move upward or downwards.

7. MT4 Connection Bar MT4 Platform Setup - MT4 Software Course for Beginner Traders

Red bars are for no connection, green bars show that there's connection to the servers & trading orders can be opened. These MT4 connection bars should always be green when one is logged onto their demo bitcoin account or live account.

These main levels form the MetaTrader 4 Platform Setup tutorial and will be the main levels to be covered in detail in next learn MetaTrader 4 software courses. For now it is best to download MetaTrader 4 & accustom yourself with MT4 inter-face.

Why MT4 Bitcoin Platform is Required for Opening Bitcoin Trade Transactions with Brokers

MT4 platform is the software which's used to access the btcusd market and interpret these bitcoin price movements using trading analysis. There are various reasons why one requires to use a good bitcoin trading platform. A good bitcoin software can determine if a as a bitcoin trader you earn profit or not.

So why does a btc usd trader need a good platform:

To connect to the Server:

To place an order when trading online one needs to use a platform which will connect to the trading servers of their broker & allow them to open & close orders. Good bitcoin platforms will connect with ease to the brokers' servers & allow traders to place orders at any time from their desktop computer PC.

To analyze crypto charts using trading analysis

To place buy or sell order one needs to first analyze the direction of btcusd crypto. This is why all good bitcoin softwares provide technical tools for example bitcoin price charts, technical indicators & various different time frames from which trader can analyze bitcoin price moves using the trading time frames of their choice.

How to Install BTCUSD Software MT4 BTCUSD Platform - Install BTCUSD MT4 Software Free Download

MT4 Setup - MT4 Software Course for Beginner Traders

From above MT4 cryptocurrency platform work space, the summary of all data required by a trader is provided on this Meta Trader 4 interface

  • Connection - connection to the online broker servers
  • Charts - price charts which display bitcoin prices
  • Tool-Bars - tool bars to add tools & trading analysis technical indicators
  • MarketWatch - for displaying available trading instruments
  • Data panel - provides account information and other trading indicator data
  • Exchange rates - shows current market bitcoin price on a bitcoin chart
  • Menu bar - Shows all menu items in the MetaTrader 4

MT4 Setup - MT4 Course for Beginner Traders

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