How to Setup MetaTrader 5 Bitcoin Platform
Learn MT5 Bitcoin Trading Guides
To start bitcoin trading with MetaTrader 5 platform, you need to follow steps listed below:
Download MT5 Bitcoin Platform
Install MetaTrader 5 Bitcoin Platform on Your PC. Open a cryptocurrency trading account on the MT5 platform. Log in to the MT5 Bitcoin Trading Account with your cryptocurrency trading account sign in credentials Open Bitcoin Charts and place Bitcoin Trades using the MT5 Bitcoin Platform.
Bitcoin Account MetaTrader 5 Download
After you Download MetaTrader 5 Bitcoin Platform from your bitcoin broker you will then need to open a MetaTrader 5 Bitcoin Trading Account to trade with.
Trading Bitcoin Open a Demo Account using MT5 Bitcoin Platform
- Download MetaTrader 5 Bitcoin Platform - MetaTrader 5 Bitcoin Platform.
- Install MetaTrader 5 Bitcoin Platform.
- Open MetaTrader 5 Bitcoin Platform.
- Enter the Login Details: Account Name & Password for the Demo Trade Account
- Open Bitcoin Charts and start practice trading.
- If you do not have a cryptocurrency demo trading account you can register for a demo trade account using File menu, Click the New Demo Account Registration and enter your details and sign up for an MT5 cryptocurrency trading account.
Trading Bitcoin Open a Real Account in MT5
- Download MetaTrader 5 Bitcoin Platform
- Setup MetaTrader 5 Bitcoin Platform on your Computer.
- Open MetaTrader 5 Bitcoin Platform on your Computer.
- Click on the File Menu and Choose Open an Account.
- Choose The Real Trading Account Option.
- Fill in the real bitcoin trading account opening form.
- Enter you cryptocurrency account sign in details for the Demo practice account.
- Trade Crypto Instruments from the free MT5 crypto charts provided.
Trading Bitcoin Start Trading on MetaTrader 5
The following screen shot below shows the main MT5 platform interface. As a beginner bitcoin trader trying to learn how to execute cryptocurrency orders in the online bitcoin market, the main tool for trading the online bitcoin market is the MT5 platform software. This is the software which you will connect to your online bitcoin broker and execute cryptocurrency trades and monitor your bitcoin trading account balance from this MT5 platform software.
The MT5 platform is provided for free through the various Cryptocurrency broker web sites. This MT5 platform looks like the cryptocurrency trading example illustrated below:
How to Setup MetaTrader 5 Crypto Platform - MetaTrader 5 Crypto Trading Setup
The Main Areas of this MetaTrader 5 platform as illustrated above are:
- Navigation Menus
- Toolbars
- Chart Window
- Navigator Window
- Market Watch Window
- Terminal Window
- Connection Bars
For this MT5 tutorial we shall look at a brief introduction for each of these how to use MT5 tutorials:
1. Navigation Menus
The navigation menus are:
- File
- View
- Insert
- Charts
- Tools
- Window
- Help
These are the main navigation menus which can be used to navigate MetaTrader 5 software. As a bitcoin beginner trader you can start by clicking on any of these navigation menus to familiarize yourself with the various button keys that are arranged as sub-menus within these navigation menus.
These navigation menus will be discussed & described in details in the next MetaTrader 5 tutorial for beginners about navigation menus.
2. Toolbars
This how to trade on MT5 explains the tool bars are used to manipulate charts, either by placing technical indicators, line studies, change bitcoin chart time frames and load an MT5 template from a list of saved templates.
These MetaTrader 5 bitcoin tool bars will be discussed on other how to use MT5 bitcoin trading tutorials that will outline each button key on this toolbar & how to add and customize these toolbars.
3. Chart Window Panel
This is the main area where bitcoin charts are displayed and a trader can interpret the market trend direction of a cryptocurrency chart whether up or down, place MT5 crypto indicators on MT5 bitcoin charts for technical analysis & even place orders from these bitcoin charts.
4. Navigator
Navigator MT5 tutorial will contain information about cryptocurrency accounts, whether practice MT5 bitcoin trading account or real MT5 cryptocurrency trading account, this window will also have a list of all the MT5 technical indicators as well as EAs and scripts.
A trader can select which Bitcoin account to login to by expanding the Accounts menu, choose an technical indicator by expanding the technical indicator menu or choose an EA by expanding the EA menu.
5. Market Watch
Market watch bitcoin trading MT5 tutorial - Market watch is used to show streaming quotes for crypto instruments. This window panel can list as many quotes provided by your Cryptocurrency broker or a few that are selected by a bitcoin trader. To save inter-net band width, right click inside the btcusd trading market watch window & select 'Hide All', so that to hide the crypto instruments that you are not trading & save on inter-net band width.
6. Terminal
This is the window panel that is like the bank account trade area for your bitcoin trades, on this window you can view your bitcoin trading account balance, bitcoin trading profit & losses statement, bitcoin trading equity, bitcoin margin used also retrieve a copy of all your bitcoin trading transactions history.
This will also list all open cryptocurrency trades and calculate all the profit and loss in real-time as a bitcoin trading instrument moves up or down.
7. Connection Bar
Red bars are for no connection, green bars show that there's connectivity to the servers and bitcoin trade orders can be placed. These connection bars should always be green when one is logged into their MT5 demo bitcoin account or MetaTrader 5 live cryptocurrency trading account.
These main areas form the MT5 Bitcoin Trading Platform interface & will be the main areas to be covered in detail in next learn MT5 platform tutorials. For now it is best to download MetaTrader 5 platform & familiarize yourself with the software interface.
Why Bitcoin Software is Required for Placing BTCUSD Quote Trade trades with Brokers
Bitcoin software is the software which is used to access the btcusd market & analyze these crypto instruments using technical analysis bitcoin charts. There are various reasons why a trader requires to use a good bitcoin platform. A good bitcoin platform can determine if a as a trader you make profit or not.
So why does a trader need a good BTCUSD Trading Software:
To connect to the Trading Server:
To open a order one needs to use a bitcoin platform which will connect to the trading servers of their broker and allow them to open & close trading orders. Good bitcoin platforms will connect with ease to the brokers' servers and allow cryptocurrency traders to place orders at any time from desktop computer PC.
To analyze bitcoin charts and bitcoin instruments using technical analysis
To place a buy or sell order one needs to first interpret the direction of a bitcoin crypto. This is why all good bitcoin trading softwares provide technical bitcoin trading tools such as bitcoin price charts, technical indicators & various different chart time frames from which a trader can analyze bitcoin price moves using the chart timeframes of their choice.
Learn MT5 Crypto Trading Guides - How to Setup MT5 Crypto Platform - MetaTrader 5 Crypto Platform MT5 Setup
From above MetaTrader 5 cryptocurrency platform inter-face, the summary of all data required by a trader is provided on this MetaTrader 5 platform interface
- Connection - connection to the broker servers
- Charts - price graphs that display bitcoin prices
- Tool bars - tool bars to add technical analysis tools and technical analysis technical indicators
- Market Watch - for displaying available bitcoin trading instruments
- Data window - provides account information & other technical indicator data
- Exchange rates - shows current market bitcoin price of a bitcoin trading instrument
- Menu bar - Shows all menu items on the platforms
How Do I Use Bitcoin Crypto MT5 Platform Tutorial - Bitcoin Account MetaTrader 5 Download
Analyze & Use MT5 Learn Bitcoin Trading Platform Guide? - Learn MetaTrader 5 Bitcoin Trading Guides - How to Setup MT5 Bitcoin Platform
