Base 9: The Metatrader Platform
Part 1: Presentation
Introduction to Metatrader
MetaTrader is an online trading platform. It is used mainly for the Forex market. Metatrader allows access to charts, track live prices and place orders directly with its broker. Here are the main components of the Metatrader platform:
The Market Watch window
The list of contracts for which the platform receives quotations is displayed in this window. It allows you to place positions or place orders on hold and also open charts.
In the context menu (right click) you can find the following menu:
New Order: place a new order
Open Chart: Open a new chart of the selected pair
Ticks Chart: show a tick chart of the selected pair
Depth of the market: opens the window depth of the market
Specifications: Displays the specifications of the selected pair
Hide: hide the selected pair
Hide All: hide all unused symbols
Show All: show all available pairs
Symbols: see the list of symbols
Sets: define lists of symbols and use them
Spread: show spreads
Up / Down: Add a column up / down for each currency pair
Time: Add a column showing the last rating update
Self-alignment: auto-align the rating grid
Grid: display a grid
Open a new quote window: open a quote pop-up window
Shows the list of pairs that are displayed or hidden in the Market Watch window. The pairs in yellow are the ones displayed. To show or hide a pair, double-click to toggle its state.
To display the graph of the chosen pair in ticks, choose Ticks Chart from the contextual menu or click on the Ticks tab.
Spécifications window :
Shows the particular specifications of the chosen pair.
Floating Difference: Means that the spread is dynamic.
Precision 5: Means a precision of 5 decimal places, so points.
Contract Size 100000: Means a lot costs one hundred thousand dollars.
Margin Currency AUD: The main currency is the Australian Dollar.
Margin Percentage: Means the lever of the pair is 200: 1.
Minimum Volume 0.01: The smallest lot you can take.
Maximum Volume 1000: The biggest lot you can take.
Step: The smallest division of the lot size.