How to Use MetaTrader 4 Software Guide Lesson

The following MetaTrader 4 Software screen shot below shows MetaQuotes MT4 Platform. As a beginner trader trying to learn how to trade the market - the first you will need to learn is How to Use MetaTrader 4 Software - How to Trade XAU/USD in MetaTrader 4 Platform Software - How to Trade XAU/USD on the MetaTrader 4 Software - How to Use MT4 Software Tutorial Lesson: Gold MT4 Download. MT4 Software is the platform software that you will use to connect to your broker with & execute trade positions and monitor your equity balance.

The MT4 is provided for free byMT4 brokers. Tutorial MT4 - This MT4 software platform looks like trading example depicted & explained below:

Main Areas of this MT4 Software as described above are:

1. Navigation Menus
2. Toolbars
3. Chart Window
4. Navigator
5. MarketWatch
6. Terminal
7. Connection Bars

Gold Tutorial MT4 - How to Use MT4 Software Guide Tutorial:

1. Navigation Menus

Navigation menus are:

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

These are the main MetaTrader 4 navigating menus that can be used to navigate the MT4 platform software.

These navigation menus will be discussed in details and particulars in the next How to Use MetaTrader 4 Software Tutorial about navigating menus.

2. Tool-Bars

The MT4 tool bars are used to place tools on charts, traders can set indicators in MetaTrader 4 charts, place line studies in MT4 charts, change chart timeframes and load a saved MT4 template from a listing of saved templates.

These MetaTrader 4 tool-bars will be discussed on other How to Use MT4 Software Tutorials that will outline each button on each MT4 tool-bar and explain how to add & customize these tool bars in MetaTrader 4 platform software.

3. Chart Window

This is the main MT4 platform software area where charts are displayed and one can analyze and interpret the trend direction of a chart whether upwards/downwards, place indicators for trading analysis and even place orders from these trading charts.

4. Navigator

Navigator panel will contain data about accounts, whether practice account or real account, this window will also have a list of all MetaTrader 4 trading indicators and also Expert-Advisors and scripts.

One can select which account to login by expanding the Trade Accounts menu, select & choose an indicator by expanding the technical indicator menu or chose an EA by expanding the Expert-Advisor menu.

5. Market-Watch

MarketWatch is used to show realtime quotes for gold. This Market-Watch panel can list as many xauusd quotes offered by your broker or a few selected by a trader.

6. Terminal

This is the panel window that is like the trading account transaction area for your trade positions, on this panel you can view your balance, profit & losses statement, equity, margin used & also to retrieve a copy of all your trade positions history.

This also will list all open trading transactions and calculate all the profit and loss on real-time as the prices move in an upward or downwards direction.

7. Connection Bar

Red bars are for no connectivity, green bars show that there's connection to the servers and orders can be opened. These connectivity bars should always be green when a trader is logged into their practice account or real/live account.

The main levels form the MT4 interface & will be the main levels to be explained in detail in the next How to Use MT4 Software Tutorial. For now it's best to download MT4 platform/software & familiarize yourself with the MT4 workspace.

Why XAUUSD Gold Platform Software is Required for Placing Transactions with Brokers

Gold software is software which is used to access the market & analyze these price moves using analysis indicators and tools. There are different reasons why a trader requires to use a good software. A good platform can determine if a as a gold trader you make a profit or not.

So why does a gold trader need a good software:

To connect to the Server:

To place a order one needs to use a software which will connect to the trading servers of their broker and allow them to open & close orders. Good trading softwares will connect with ease to the brokers' servers & allow traders to place orders at any time from their PC Desktop computer.

To analyze charts using analysis indicators

To open buy/sell order a gold trader first needs to interpret the direction of gold. This is why all good softwares provide trading analysis tools such as price charts, indicators and various different timeframe from which trader can interpret the price movements using the time frames of their choice.

From above MetaTrader 4 Software interface, the summary of all data required by a trader is provided on this MT4 Software interface

• Connection - connection to the broker servers
• Charts - price graphs which show prices
• Tool-bars - tool-bars to add tools and trading analysis indicators
• MarketWatch - for displaying available trading instruments
• Data window - provides gold account data and other indicator data
• Exchange rates - shows ruling market price
• Menu bar - Shows all menu items in MetaTrader 4 Software

Study More Courses & Guides:

• How Do You Use Buy Stop Gold Order on MetaTrader 4 Software/Platform?
• Gold Learning
• MT4 Gold Software Guide User Course Tutorial
• How to Read MT4 Trend lines Trading Indicator and MT4 Channels Trading Indicator on MT4 Software
• Free Gold Indicators Illustrated
• How to Choose and Select Your XAUUSD Style Guide Tutorial for Different XAU USD Traders
• How Do You Trade MT4 Fibonacci Expansion Gold?
• Types of XAU USD Analysis
• Gold Reversal Price Action Trade Manual Tutorial