Gold MT4 Dashboard
The following screenshot below shows the main MetaTrader 4 platform Dashboard. As a beginner trader trying to learn how to execute gold orders in the online gold market, the main tool for trading the xauusd market is the MetaTrader 4 platform software. This MetaTrader 4 software is the software that you will connect to your gold broker with & execute gold trade transactions & monitor your gold trading account balance from this MetaTrader 4 platform.
The MT4 platform software is provided for free through the various xauusd broker websites. This MetaTrader 4 platform looks like the xauusd trading example illustrated and explained below:
Main Areas of this MT4 software as displayed above are:
- MetaTrader 4 Navigation Menus
- Toolbars
- MT4 Gold Chart Window
- MetaTrader 4 Navigator Window
- MetaTrader 4 Market Watch Window
- MetaTrader 4 Terminal
- MetaTrader 4 Connection Bars
For this MT4 platform tutorial we shall look at a brief introduction for each of these learn gold MT4 software:
1. Navigation Menus
The MetaTrader 4 navigation menus are:
- File
- View
- Insert
- Charts
- Tools
- Window
- Help
These are the main MT4 software navigation menus that can be used to navigate MT4 platform. As a beginner trader you can start by clicking any of these MetaTrader 4 platform navigation menus so as to familiarize yourself with various MT4 buttons that are arranged as MetaTrader 4 submenus within these MT4 navigation menus.
These MetaTrader 4 navigation menus will be explained in details in the next MT4 platform guides about navigation menus.
2. Tool-Bars
The MT4 tool bars are used to manipulate MT4 gold charts, either by placing MT4 indicators, MT4 line studies, change MT4 xauusd chart time frames and load MT4 template from a list of saved MT4 templates.
These MT4 toolbars will be discussed on other MetaTrader 4 platform guides which will outline each MT4 button on this MT4 tool-bar & how to add & customize these MT4 tool-bars.
3. Chart Window Panel
This MT4 gold chart window is the main area where MT4 xauusd charts are displayed and a trader can analyze the gold trend direction of a MT4 gold chart whether up or down, place MT4 gold chart indicators for technical analysis and even place orders from these MT4 xauusd charts.
4. Navigator
MT4 Navigator will contain information about MT4 accounts, whether practice or real, this MT4 window will also have a list of all the MT4 indicators as well as MT4 Gold Expert Advisors & scripts.
A trader can select which MT4 account to login by expanding the Accounts menu, choose a MT4 indicator by expanding the MT4 indicator menu or choose a MT4 Gold Expert Advisor by expanding the Expert Advisor menu.
5. Market Watch
MT4 Market watch is used to show streaming xauusd quotes for MT4 gold trading instruments. This can list as many quotes provided by your MT4 gold broker or a few selected by a trader. To save inter net band width, right-click inside the MT4 market watch window and select 'Hide All', so as to hide the MT4 symbols that you are not transacting on this MT4 platform and save on internet bandwidth.
6. Terminal
This is MetaTrader 4 window that is like the bank account trade area for your MetaTrader 4 gold trade transactions, on this MetaTrader 4 window panel you can view your account balance, profit & losses statement, equity, margin used also retrieve a copy of all your MT4 gold trade transactions history.
This MetaTrader 4 window will also list all open gold trade transactions & calculate all the profit & loss in realtime as the xauusd prices move in an upwards or downwards direction.
7. Connection Bar
MetaTrader 4 connection bars - Red bars are for no connection, green bars show that there is connectivity to the servers & MT4 gold trade orders can be set. These MetaTrader 4 connection bars should always be green when one logged into their MT4 practice gold trading account or MetaTrader 4 live account.
These MetaTrader 4 software main areas form the MetaTrader 4 platform Dashboard and will be the main areas to be covered in detail in the next learn MT4 platform tutorials. For now it is best to download MetaTrader 4 software software and familiarize yourself with the MT4 software Dashboard.
Why XAUUSD Software is Required for Placing XAUUSD Trade Transactions with XAUUSD Trading Brokers
Gold software is software that is used to access the xauusd market and analyze these xauusd price movements using xauusd charts and xauusd trading analysis tools. There are various reasons why a trader 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 Gold Trading Software:
To connect to the Gold Broker Trading Server:
To place a gold trade order a trader needs to use a gold software which will connect to the trading servers of their xauusd trading broker & this will allow them to open & close gold trade 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 trading analysis tools
To place a buy or sell gold order a trader needs to first analyze the direction of a gold using gold charts. This is why all good gold trading platforms provide xauusd trading technical 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 the above gold trading platform Dashboard, the summary of all information required by a trader is provided on this MetaTrader 4 platform Dashboard
- Connection - connection to the broker servers
- Charts - price graphs which display xauusd prices
- Tool bars - tool-bars to add tools & technical analysis indicators on xauusd charts
- Market Watch - for displaying available instruments in MetaTrader 4
- Data window - provides MetaTrader 4 account data & other indicator data
- Exchange rates - shows current market xauusd price
- Menu bar - Shows all menu items in MetaTrader 4 platform
