How to Use MT4 Gold Trading Platform Tutorial Course
The following MT4 Gold Trading Platform screen shot below shows Metaquotes MetaTrader 4 Gold Trading Platform. As a beginner gold trader trying to learn how to trade the xauusd market - the first you will need to learn is How to Use MetaTrader 4 Gold Trading Platform - How to Trade XAUUSD on MT4 - How to Trade XAUUSD on MetaTrader 4 - How to Use MT4 Gold Trading Platform Tutorial Course: Gold Trading MetaTrader 4 Download. MT4 Gold Trading Platform is the gold trading platform software that you will use to connect to your online gold broker with and execute gold trade transactions and monitor your gold trading account balance.
The MT4 is provided for free byMT4 gold brokers. Gold Trading Tutorial MT4 - This MetaTrader 4 platform trading software looks like the xauusd trading example illustrated and explained below:
The Main Areas of this MT4 Gold Trading Platform as explained above are:
- Navigation Menus
- Toolbars
- Chart Window
- Navigator
- Market Watch
- Terminal
- Connection Bars
Gold Trading Tutorial MT4 - How to Use MT4 Gold Trading Platform Tutorial Course:
1. Navigation Menus
The navigation menus are:
- File
- View
- Insert
- Charts
- Tools
- Window
- Help
These are the main MetaTrader 4 navigation menus that can be used to navigate the MT4 platform.
These navigation menus will be discussed in details in the next How to Use MT4 Gold Trading Platform Tutorial about navigation menus.
2. Tool Bars
The MetaTrader 4 tool bars are used to place gold trading tools on gold charts, xauusd traders can place indicators on MetaTrader 4 gold charts, place line studies on MetaTrader 4 gold charts, change xauusd chart time frames and load a saved MetaTrader 4 template from a list of saved templates.
These MT4 tool bars will be discussed on other How to Use MT4 Gold Trading Platform Tutorials that will outline each button on each MetaTrader 4 tool bar and explain how to add and customize these tool bars on the MT4 platform.
3. Chart Window
This is the main MetaTrader 4 platform area where xauusd charts are displayed and a gold trader can analyze the gold trend direction of a gold chart whether up or down, place gold indicators for technical analysis and even place orders from these gold charts.
4. Navigator
Navigator window will contain information about xauusd trading accounts, whether demo gold trading account or real account, this window will also have a list of all the MetaTrader 4 gold indicators as well as Expert Advisors and scripts.
A gold trader can select which xauusd trading account to login by expanding the Accounts menu, choose an indicator by expanding the indicator menu or chose an Expert Advisor by expanding the Expert Advisor menu.
5. Market Watch
Market watch is used to show streaming xauusd quotes for gold. This Market Watch window can list as many xauusd quotes provided by your gold broker or a few selected by a gold trader.
6. Terminal
This is the window that is like the gold trading account transaction area for your gold trade transactions, on this window you can view your balance, profit and losses statement, equity, margin used also retrieve a copy of all your gold trade transactions history.
This will also list all open gold trading transactions and calculate all the profit and loss in real time as the gold prices move up or down.
7. Connection Bar
Red bars are for no connection, green bars show that there is connection to the servers and gold trade transaction orders can be placed. These connection bars should always be green when a gold trader is logged into their demo gold trading account or live xauusd trading account.
These main areas form the MT4 interface and will be the main areas to be covered in detail in the next How to Use MT4 Gold Trading Platform Tutorial. For now it is best to download MetaTrader 4 platform and familiarize yourself with the MT4 platform interface.
Why XAUUSD Trading Software is Required for Placing XAUUSD Trade Transactions with Brokers
gold trading platform is the software that is used to access the xauusd market and analyze these xauusd price movements using technical analysis gold indicators and tools. There are various reasons why one requires to use a good gold trading platform. A good gold trading platform can determine if a as a gold trader you make a profit or not.
So why does a gold trader need a good platform:
To connect to the Trading Server:
To place a gold order one needs to use a gold trading platform that will connect to the trading servers of their xauusd trading broker and allow them to open and close orders. Good gold trading platforms will connect with ease to the gold brokers' servers and allow xauusd traders to place gold orders at any time from their computer.
To analyze gold charts using technical analysis indicators
To place a buy or sell order one needs to first analyze the direction of gold. This is why all good gold trading platforms provide xauusd trading analysis tools such as xauusd price charts, gold indicators and various different xauusd chart time frames from which one can analyze xauusd price moves using the xauusd chart time frames of their choice.
From the above MT4 Gold Trading Platform interface, the summary of all information required by a gold trader is provided on this MT4 Gold Trading Platform interface
- Connection - connection to the gold broker servers
- Charts -price graphs that display gold prices
- Toolbars - tool bars to add gold trading tools and xauusd trading analysis indicators
- Market Watch - for displaying available financial instruments
- Data window - provides gold trading account information and other indicator data
- Exchange rates - shows current market gold price
- Menu bar - Shows all menu items on the MT4 Platform
