Lesson 9 of 69
Understanding the platform (MT4 / MT5)
7 min read
Chapter checkpoints
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MetaTrader 4 and MetaTrader 5 are the industry-standard platforms. MT5 is the newer version with more and instruments; MT4 is lighter and still hugely popular. The layout is essentially the same.
Market Watch
prices
Navigator
indicators
Chart window
candles · timeframes
Terminal / Toolbox
open trades · balance · history
The four areas to learn
- Market Watch — the list of instruments with live and prices. Drag one onto the chart to it.
- Chart window — price history. Switch timeframes (M5, M15, H1, H4, D1) from the toolbar.
- Navigator — indicators, templates and any automated tools.
- Terminal / Toolbox — your open trades, pending orders, account balance, , and trade history.
Account numbers you must understand
| Term | Meaning |
|---|---|
| Balance | Cash in the account, excluding open trades |
| Equity | Balance plus or minus the profit of open trades |
| Margin | The deposit locked up to hold your open positions |
| Free margin | Equity minus margin — what you can still use |
| Margin level | Equity ÷ margin as a percentage; if it falls too low you get a margin call |
First settings to change
Turn on one-click trading only once you are comfortable, set the chart to candlesticks, and enable the bid/ask lines so you can see the real .
Key takeaways
- Every platform has the same core parts: watchlist, chart, order ticket and terminal.
- The order ticket is where volume, stop loss and take profit are set before you click.
- Your terminal shows floating profit, margin and free margin in real time.
- Learn the platform on demo so live trading is never slowed down by the software.
Knowledge check
3 quick questions — your best score is saved to your progress.
1. Where do you set volume, stop loss and take profit?
2. What does the terminal (or positions panel) show you?
3. Where should you learn a new platform?
Progress is saved on this device.
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