Gold MT4 Dashboard

The following screenshot below displays the main MT4 platform Dashboard. As a beginner trying to learn how to execute orders in the online market, the main tool for trading the market is the MT4 software software. This MT4 platform software is the trading software which you will connect to your broker with & execute trade positions and monitor your account balance from the MT4 platform software.

The MetaTrader 4 platform software is offered for free through the different broker web sites. This MT4 looks like the trading example shown and explained below:

Main Areas of this MT4 like illustrated and shown above are:

1. MetaTrader 4 Navigation Menus
2. Toolbars
3. MetaTrader 4 Chart Window
4. MetaTrader 4 Navigator Panel/Window
5. MT4 Market-Watch Window
6. MetaTrader 4 Terminal
7. MT4 Connection Bars

For this MT4 platform software tutorial we shall look at a brief introduction for each of the learn gold MT4 platform:

1. Navigation Menus

The MT4 navigating menus are:

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

These are the main MetaTrader 4 platform software navigation menus that can be used to navigate MT4 platform software. As a beginner trader you can start by clicking any of these MetaTrader 4 platform software navigation menus in order and so as to familiarize yourself with various MT4 buttons which are arranged as MT4 submenus within these MT4 navigating menus.

These MetaTrader 4 navigation menus will be explained in details and particulars in the next MT4 platform software tutorials about navigation menus.

2. Tool-bars

The MT4 tool bars are used to manipulate MetaTrader 4 gold charts, either by placing MT4 indicators, MetaTrader 4 line studies, change MT4 time-frame & load MT4 template from a list of saved MT4 templates.

These MetaTrader 4 tool-bars will be discussed on other MT4 platform software guides that will outline each MetaTrader 4 button on this MT4 tool bar and how to add & customize these MetaTrader 4 tool bars.

3. Chart Window

This MT4 gold chart window is the main area where MetaTrader 4 charts are displayed & one can analyze and interpret the trend direction of a MT4 gold chart whether upward or downward, place MT4 gold chart indicators for technical analysis & even place orders from these MetaTrader 4 charts.

4. Navigator

MetaTrader 4 Navigator will contain information about MT4 accounts, whether practice or real, this MT4 window panel will also have a list of all the MetaTrader 4 indicators and also MT4 Expert Advisors/EAs and scripts.

A trader can select which MetaTrader 4 account to login by expanding the Trade Accounts menu, select and choose a MT4 indicator by expanding the MT4 indicator menu or choose a MT4 EA EA by expanding the EA menu.

5. Market-Watch

MT4 Market-Watch panel is used to show realtime quotes for MT4 gold trading instruments. This can list as many quotes that are provided by your MT4 gold broker or a couple of chosen by a xauusd trader. To save internet band-width, rightclick inside the MetaTrader 4 market-watch panel and select 'Hide All', to hide the MT4 symbols that you as a trader aren't trading on this MT4 platform software & save on internet band-width.

6. Terminal

This is MT4 panel that's like the bank trading account trade area for your MT4 gold trades, on this MT4 panel you can view your account balance, profit and losses statement, equity, margin used & also retrieve a copy of all your MT4 gold trades history.

This MT4 window will also list all open gold trades and calculate all the profit and loss on real-time as the prices move in an upward or downwards direction.

7. Connectivity Bar

MT4 connection bars - Red bars are for no connection, green bars show that there's connection to the servers & MT4 gold orders can be set. These MetaTrader 4 connection bars should always be green color when a trader is signed in to their MT4 practice account or MT4 live account.

These MT4 platform software main levels form the MT4 software Dashboard and will be the main levels to be covered & discussed on detail in the next learn MetaTrader 4 software courses. For now it's best to download MT4 platform/software & accustom yourself with the MetaTrader 4 platform software Dashboard.

Why Software is Required for Placing XAU USD Trades with Brokers

Gold software is software which is used to access the market & analyze these price moves using charts & trading analysis tools. There are different reasons why a trader requires to use a good platform. A good xauusd software 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 Online Broker Server:

To place an order a trader needs to use a software platform that will connect to the trading servers of their broker & this will allow them to open & close trade orders. Good trading platforms will connect with ease to the brokers' servers & allow traders to place orders at any time from their computer.

To analyze the charts using trading analysis tools

To open a buy or sell order a trader first needs to analyze the direction of a gold using charts. This is why all good platforms provide trade tools like price charts, gold indicators and various different chart timeframes from which trader can interpret the price movements using the time frames of their choice.

From the above platform Dashboard, the summary of all info required by a trader is provided on this MT4 Dashboard

• Connection - connection to the broker servers
• Charts - price graphs which show prices
• Tool-Bars - tool bars to add tools & analysis trading indicators on charts
• Market Watch - for displaying available instruments in the MT4 Platform
• Data window - provides MT4 account data & other technical indicator data
• Exchange rates - displays the prevailing market price
• Menu bar - Shows all menu items in MT4 platform/software

Study More Guides & Lessons:

• How Do You Read Where to Add Stop Loss using Parabolic SAR XAU/USD Indicator?
• How Do You Trade Swing XAUUSD with Different XAU USD Chart Timeframes?
• How to Create a Bull Power Indicator XAUUSD System
• Gold Login in to MT5 Gold Account
• Gold Save a Trade Template on MT5 Platform
• Gold Charts Using Pivot Points
• How to Add Standard Deviation Indicator on Gold Chart