MT4 Gold Platform
The best xauusd software is the MT4 software. This is one of most common xauusd software which's used by almost every other trader as well as by almost every online broker.
In this tutorial we shall explain the MetaTrader 4 Interface so that beginners wanting to begin learning this XAUUSD charting software, can then begin from the lesson.
Best Online XAUUSD Platform - MT4 Work Space
Form the above image of the this platform there are several toolbars as well as chart window.
You can download this online xauusd trading platform from your broker's site. Now after you download it, then you will need to know one or two things about this xauusd platform:
The first thing is how to install this xauusd platform after you download. For example if you download the MT4, you will need to go to a broker first, register for a practice trading account then after you register for a practice gold account you will be provided with a link where to download the MT4.
Once you download this gold trading software, assuming you do not know much about PC computers, Open your Web Browser >>> Go to tools at top-left corner of your web browser next to 'file', 'edit', 'view' menus click on the tools, choose download folder place, (short-cut: once you open your web browser click on CTRL+J or CTRL+ Y), a download pop up panel will appear with links to the downloaded items. Select the platform which you have just downloaded.
Installing MetaTrader 4
To install this platform software after you have downloaded, open the download from where it is that you downloaded, from there an installation pop up wizard appears & all you've to do is to follow the setup instructions. After setup the trading platform will run automatically like any other software. Read guide How to install MetaTrader 4 platform.
You can open the MetaTrader 4 from the begin menu>>> Programs or from the desktop short cut which pops up as a desktop icon marked MetaTrader 4 after installation.
Demo XAUUSD Account Opening & Login
To open a trading account on MetaTrader 4 just click on 'file' and then on open an account, to log in to an account just click on 'file' at the top right corner & click sign in from the dropdown menu that appears.
Once youlogin to the platform you'll get access to charts and other technical analysis tools such as indicators that you'll then use to place trades within the market while connected to your xauusd broker's servers.
Platform Menu Bar and Tool-Bars
Menu Bar on MT4 for Navigating within the Software
Menu bar is used to operate and navigate this xauusd platform from one panel. From this panel you can set how to view tool-bars, chart, data window and even use the file tab to open a account - and also sign in to your trading account.
From the menu bar you can click on view tab & choose toolbars like in the above pictured image, these menu tool-bars can be used to setup trading charts, indicators, time frames, and others things like drawing xauusd trend-lines & Fibo retracement zones & Fib extension levels. To learn how to customize this platform navigate to this MetaTrader 4 Platform Tutorial Section.
Now that we have looked at the tool bar and menu bar, we shall look at the main workspace inter-face of the MT4 platform - MetaTrader 4 Platform.
Best Online XAUUSD Platform - MetaTrader 4
Market Watch window - This panel is used to show a stream of the exchange rates that's obtained from your gold broker. In this market watch window you can right click anywhere on this panel to choose show all xauusd or hide the ones you're not interested in & save some bandwidth at the same time. No need to have prices for 50 xauusd if you're only interested in 4 xauusd.
Data Window - Used to setup Indicators, EAs & scripts, you can click any of this menu sub items and expand/collapse the technical indicators or EAs used for automated trading.
Charts Panel - This is where price moves will be drawn.
Charts Tab - Navigation from one gold to another is easy, just flip through the charts tab as shown above.
Terminal - This window panel is used to display a sstatement of your trade transactions, profits and loses that you have made in your real account or demo trading account. To enlarge this panel and view open trade transactions, just hover the mouse on the terminal tool-bar til the cursor changes, click & hold down mouse button and then move cursor upwards.
Connection bars - These are used to show connection to net, red bars mean no net connectivity, green bars show there's internet connectivity.
Exchange Rates Graph - this displays the exchange rates for the gold that you are trading so as to display if the exchange rate is going upward or downwards.
Why MT4 is Best Gold Software
In the online xauusd market there are many softwares available around the internet. But among the top xauusd softwares best xauusd platform is MT4, it is the best XAUUSD software because of following reasons:
Low Bandwidth Internet Connection Requirement
Not everyone can afford the best online internet connection, the T1, the satellite, ADSL or Fiber Optic internet connection: furthermore, these aren't freely available to some residential areas and may be limited to office buildings. This is why it is best to select a gold software which requires the minimum band-width, the MetaTrader 4. Even with the best internet connection, sometimes the connection may not be available & you may need to use an alternative connectivity like the dial up or modem. MetaTrader 4 is the least expensive if you are on a modem. To even reduce further the inter-net band width usage go to market-watch (Short-cut press CTRL+M), RightClick on any gold instrument, Choose 'Hide all', now the trading platform will only stream the price quotes for the pairs you only need & conserve your band-width even further. Especially when using a phone or i Pad or a Tablet where you are paying for data plan credit this can save your credit. This is one of reason why the MT4 is considered as one of the best xauusd platforms online.
The easier it's to connect the easier it's open & close trade transactions on time.
Provided by all Online Brokers
Another reason why this XAUUSD software is regarded as one of best xauusd platform is because MetaTrader 4 is liked by most traders all online brokers provide it. Once as a learns the MetaTrader 4 software there is no need to re-learn when you switch to another trading broker. You can still use the same MetaTrader 4 of the new broker without the need to learn a new platform all over again.
Easy Technical Analysis
The other thing that makes this the best xauusd platform is ease with which you can set up the technical analysis indicators on the charts. Even those using various web traders will do their technical analysis in the MT4 and then place their xauusd orders on their webtrader.
Technical traders also can install custom indicators on this software, making it easier to add more technical analysis tools on to this software. Others also install Expert-Advisors on this gold platform so as to trade automatically with these programs referred to as Expert-Advisor XAUUSD Robots.
Best Charts
The MetaTrader 4 has the best xauusd platform charts representations available and implements many chart timeframes from which a investor can select.
Simplicity
Overall the simplicity of this software and the fact that any investor can learn how to use MT4 within one hour makes this the best trading software for new & experienced traders.
According to xauusd platform reviews of the top xauusd platforms MetaTrader 4 is the best xauusd trading platform. Hence, traders looking for what is the best xauusd software can begin trading with the MetaTrader 4 platform as it's the best software & it is very easy to learn.
MT4 Platform - MT4 Platform
