How to Use Meta Trader 4 Platform Guide Tutorial
The following MT4 Platform screen shot below shows MetaQuotes MT4 Software. As a beginner trader trying to learn how to trade the market - the first you will need to learn is How to Use MT4 Software - How to Trade XAUUSD on MT4 - How to Trade XAUUSD in MetaTrader 4 - How to Use MT4 Platform Tutorial Course: Gold MetaTrader 4 Download. MT4 Software is the trading platform software that you will use to connect to your online broker with & execute trade transactions & monitor your equity balance.
The MT4 is provided for free byMT4 brokers. Tutorial MT4 - This MT4 platform software looks like trading example depicted and explained below:
Main Areas of this MetaTrader 4 Software as described above are:
- Navigation Menus
- Tool Bars
- Chart Window
- Navigator
- Market Watch
- Terminal
- Connection Bars
Gold Tutorial MT4 - How to Use MT4 Platform Guide Tutorial:
1. Navigation Menus
Navigation menus are:
- File Menu
- View Menu
- Insert Tab
- Charts Menu
- Tools Menu
- Window Menu
- Help Menu
These are the main MT4 navigation menus that can be used to navigate the MT4 software.
These navigation menus will be discussed in details in the next How to Use MT4 Platform Tutorial about navigation menus.
2. Tool-Bars
The Meta Trader 4 tool bars are used to place trading tools on charts, traders can set indicators in MetaTrader 4 charts, place line studies in MetaTrader 4 charts, change chart time frames and load a saved MetaTrader 4 template from a listing of saved templates.
These MT4 tool bars will be discussed on other How to Use MT4 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
This is the main MT4 platform area where charts are displayed & one can analyze the trend direction of a chart whether up/down, place indicators for technical analysis and even place orders from these charts.
4. Navigator
Navigator panel will contain data about accounts, whether practice trading account or real account, this window will also have a list of all MT4 indicators as well as Expert-Advisors and scripts.
One can choose which 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
MarketWatch is used to show streaming quotes for gold. This Market Watch window can list as many xauusd quotes provided by your broker or a few selected by a trader.
6. Terminal
This is the window panel that is like the trading account transaction area for your trade transactions, on this window panel you can view your balance, profit & losses statement, equity, margin used and also to retrieve a copy of all your trade transactions history.
This also will list all open trading transactions and calculate all the profit and loss in realtime as the prices move in an upward or downward direction.
7. Connection Bar
Red bars are for no connectivity, green bars show that there is connectivity to the servers and trading orders can be opened. These connectivity bars should always be green when a trader is logged into their practice account or real account.
The main areas form the MetaTrader 4 interface and will be the main areas to be covered in detail in the next How to Use MT4 Platform Tutorial. For now it's best to download MetaTrader 4 software & familiarize yourself with the MT4 interface.
Why XAUUSD Software is Required for Opening Transactions with Brokers
Gold software is software which is used to access the market & analyze these price movements using analysis indicators and tools. There are various reasons why one requires to use a good platform. A good 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 Server:
To place a order one needs to use a software which will connect to the trading servers of their trading broker & allow them to open & close orders. Good trading softwares will connect with ease to the brokers' servers and allow traders to place orders at any time from their PC Desktop computer.
To analyze charts using analysis indicators
To open buy or sell order a trader needs to first interpret the direction of gold. This is why all good softwares provide trading analysis tools such as price charts, indicators & various different chart time frames from which trader can analyze price moves using the time frames of their choice.
From above MetaTrader 4 Platform interface, the summary of all data required by a trader is provided on this MetaTrader 4 Software interface
- Connection - connection to the broker servers
- Charts - price graphs which show prices
- Tool-bars - toolbars to add tools and trading analysis indicators
- Market Watch - for displaying available financial instruments
- Data window - provides gold trading account data and other indicator data
- Exchange rates - shows current market price
- Menu bar - Shows all menu items in MetaTrader 4 Platform Software
