Learn Gold Trading Platform - MetaTrader 4 XAUUSD Trading Platform
Best Gold platform online to learn XAUUSD trading with is the MT4 platform software. This is one of the most often used online trading platform. It is used to also trade Forex Currencies, Stock Indices, Oil & CFDs.
This software is provided for by almost all the online brokers. This also is because it's a platform that is easy to use.
In this lesson we shall explain the MetaTrader 4 software platform trading interface & show traders how to navigate this trading platform and how to trade with it. The MT4 trading inter-face is shown below:
Gold Platform - MT4 Platform Workspace
The above screenshot shows the MetaTrader 4 XAUUSD platform interface where several chart tool-bars & trading chart windows are displayed.
Once you have downloaded this Gold trading platform from you online XAUUSD trading broker's website you will then need to learn how to navigate this trading platform before you as a gold trader can begin trading the Gold metal online.
Online Gold Platform - MT4 Work-Space
From the above screenshot of this Gold platform there are various chart tool-bars & also various chart windows. You can download this online Gold trading platform from your xauusd trading broker's web site and after you download this software, then you will need to learn one or two things about this XAUUSD trading platform:
The first thing that you as trader needs to learn is the procedure of how to install and setup this Gold trading platform software on your PC computer after you download the software. For example illustration if you download the MT4, you'll need to go to an online Gold broker website first, register for a demo practice trade account then after you register for a demo practice trading account you'll be provided with a link where to download the MT4 platform.
Once you download this Gold trading platform, assuming you do not know much about computers, Launch your Browser>>> Go to tools at the top left corner of your browser just next to "file", "edit", "view" click on tools, select download file location, (shortcut: once you as a trader launch your web browser click CTRL+J or CTRL+ Y), a download pop-up will appear with the links to the downloaded items. Select and Choose the platform which you have just downloaded.
Installing MetaTrader 4 Trading platform
To install this platform after you have downloaded, launch & open the download from where you downloaded, from there an installation wizard appears and all you've to do is to follow the installation instructions. After installation of the trading platform, the platform will run automatically like any other computer software.
You can open the MT4 from the start menu>>>Programs or from the desktop shortcut that appears as a desktop icon marked MT4 after installation.
Demo Account Opening and Login
To open a Gold trading account on MT4 platform just click on the "file" & then on "open an account", to login to an account just click on the "file" at the top right corner and then press login from the drop down menu which appears.
Once you login and sign in to the XAU USD trading platform you'll gain access to charts and other technical analysis tools such as indicators that you'll then use to place XAUUSD trades within the market while linked to your Gold broker's servers.
Gold Platform - Menu Bar and Tool-Bars
Menu Bar in MT4 For Navigating within the MT4 Platform
Menu bar is used to operate and navigate this online Gold trading software using one--singlea--single window. From this panel you as a Gold trader can set how to view the chart tool-bars, charts, data windows and even use the "file" menu tab to open a XAUUSD demo trade account - and also login to your account.
Form the menu bar you can click +oon the "view tab" next to file at the top left corner and select chart tool bars like in the above illustrated screen shot, these menu bars can be used to setup the XAUUSD charts, trading indicators, time-frames, and others things like drawing trendlines and Fib retracement levels and Fib extension levels.
Now that we have looked at the MT4 chart toolbar and menu bar, we will look at the main work space interface of the MT4 XAUUSD online platform.
Gold Trading Platform Software - MT4 Work-Space
MetaTrader 4 Trading Platform Workspace
MarketWatch Window - This market-watch panel window is used to show and display a stream of XAUUSD prices that is gotten from your broker. In this marketwatch panel you as a gold trader can right-click anywhere on this window panel to select show all trading instruments or hide the ones you're not interested in and save some band-width at the same time. No need to have prices for 50 forex pairs if you're only interested XAUUSD.
To Find Gold or Gold metal for trading once you right click inside the market-watch panel & then choose & select the "Show All" instruments, then look for Gold or XAUUSD, open the XAUUSD chart & then right click again and this time specify "Hide All" so as to hide all the other financial instruments that you'll not be trading.
Data Window - Used this data window to setup indicators, Expert Advisors & scripts, you as a trader can click on any of this sub menu items & expand/collapse the indicators or Expert Advisors used for automated trading so that to choose these items and put them on the charts.
Charts Panel - This is where the XAUUSD price moves will be drawn in the format of a graph or what is commonly known as a trading chart in online trading.
Charts Tab - This tab is used for navigation from one currency pair to the other is easy, or if you are trading the metals GOLD & SILVER, this tab will be used to navigate from one trading chart to the other, just flip through the charts tab like shown above.
Terminal - This terminal window is used to display a statement of your trade positions, profits & losses that you have made in your live XAUUSD account or demo Gold account. To enlarge this window and view open trades, just hover the mouse on the terminal tool bar until the cursor changes, click and hold down mouse button and then move cursor upward.
Connection bars - These connection bars are used to show the online connection to the internet, red bars mean no online connection, green bars show that there's internet connection.
Gold Charts - These XAU USD charts displays the exchange price for the metal Gold that you're trading so as to show if the XAUUSD prices is going up/down.
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