How to Use MT4 Gold Platform Guide Tutorial
The following MetaTrader 4 Gold Trading Platform screen shot below shows Metaquotes MT4 Platform. As a beginner trader trying to learn how to trade the xauusd market - the first you will need to learn is How to Use MT4 Gold Software - How to Trade XAUUSD on MT4 - How to Trade XAUUSD in MetaTrader 4 - How to Use MT4 Gold Platform Tutorial Course: Gold 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 & execute gold trade transactions & monitor your gold trading account balance.
The MT4 is provided for free byMT4 gold brokers. Gold Trading Tutorial MT4 - This MT4 platform trading software looks like xauusd trading example illustrated and explained below:
Main Areas of this MetaTrader 4 Gold Trading Platform as described above are:
- Navigation Menus
- Toolbars
- Chart Window
- Navigator
- Market Watch
- Terminal
- Connection Bars
Gold Trading Tutorial MT4 - How to Use MT4 Gold Platform Guide Tutorial:
1. Navigation Menus
The navigation menus are:
- File
- View
- Insert
- Charts
- Tools
- Window
- Help
These are the main MT4 navigation menus that can be used to navigate the MetaTrader 4 software.
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 in MetaTrader 4 gold charts, place line studies in MetaTrader 4 gold charts, change xauusd chart time frames and load a saved MT4 template from a list of saved templates.
These MT4 tool bars will be discussed on other How to Use MT4 Gold Platform Tutorials which will outline each button key on each MT4 tool-bar and explain how to add and customize these tool bars in MT4 platform.
3. Chart Window Panel
This is the main MT4 platform area where xauusd charts are displayed and a 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 xauusd charts.
4. Navigator
Navigator panel will contain data about xauusd accounts, whether practice gold trading account or real account, this window will also have a list of all MT4 indicators as well as Expert-Advisors & scripts.
A trader can select which xauusd trading account to login by expanding the Accounts menu, select an technical indicator by expanding the indicator menu or chose an EA 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 trader.
6. Terminal
This is the window panel that is like the gold trading account transaction area for your gold trade transactions, on this window panel you can view your balance, profit & 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 realtime as the xauusd prices move in an upwards or downwards direction.
7. Connection Bar
Red bars are for no connectivity, green bars show that there is connectivity to the servers & gold trade orders can be placed. These connectivity bars should always be green when a trader is logged into their practice gold 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 Software is Required for Placing XAUUSD Trade Transactions with Brokers
Gold software is 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 platform. A good gold software can determine if a as a trader you make a profit or not.
So why does a trader need a good platform:
To connect to the Trading Server:
To place a gold order one needs to use a gold software which will connect to the trading servers of their xauusd trading broker & allow them to open & close orders. Good gold trading platforms will connect with ease to the brokers' servers & allow xauusd traders to place xauusd orders at any time from their computer.
To analyze gold charts using technical analysis technical indicators
To open buy or sell order a trader needs to first interpret the direction of gold. This is why all good gold trading platforms provide xauusd trading analysis tools such as xauusd price charts, gold indicators & various different chart timeframes from which trader can analyze xauusd price moves using the xauusd chart time frames of their choice.
From above MetaTrader 4 Gold Trading Platform interface, the summary of all data required by a trader is provided on this MetaTrader 4 Gold Trading Platform interface
- Connection - connection to the broker servers
- Charts - price graphs which display xauusd prices
- Tool-bars - toolbars to add gold tools and xauusd trading analysis indicators
- Market Watch - for displaying available financial instruments
- Data window - provides gold trading account data & other indicator data
- Exchange rates - shows current market xauusd price
- Menu bar - Shows all menu items in MetaTrader 4 Platform
