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The best trusted software platform is the MT4 software. This platform is one of the most common software which is used by by just about almost every other trader as well as by almost every online broker.
In this learn MetaTrader 4 guide we shall explain to you using examples the MetaTrader 4 Interface so that beginner traders wanting to start learning this Trade charting software, can then begin from the lesson.
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From the above screen-shot of the platform MetaTrader 4 platform software there are several toolbars and also various different chart windows.
You can download this trading platform from your broker's web site. Now after you download platform, then you'll need to know one or 2 things about this platform:
First thing is how to install this software after you download. For example if you download the MT4, you will need to go to a online broker first, register for a practice trade account then after you sign up for a demo practice trading account you'll be provided with a link where to download the MetaTrader 4 platform/software.
Once you download this software, assuming you do not know much about PC Desktop computers, Open your Browser >>> Go to tools on the top left corner of your web browser next to 'file', 'edit', 'view' menus click on tools, choose download folder place, (shortcut: once you as a gold trader launch your web browser click on CTRL+J or CTRL+ Y), a download pop-up window will appear with short-cut links to downloaded items. Choose the software that you've just downloaded.
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To install this software after you have downloaded, launch and open the downloaded item from where you have downloaded, from there an installation popup wizard appears & all you've to do is to follow the setup guideline steps. After setup the software will run just like any other software. Read guide How to install MetaTrader 4 software.
You can open the MetaTrader 4 platform software from the start menu>>> Programs or from the desktop shortcut that appears as a desk-top icon tagged MetaTrader 4 after installation.
Demo Account Opening & Login
To open a trading account on MT4 just click on 'file' & then on open a trading account, to sign in to a trading account just click on 'file' at the top right corner and click sign in from the drop-down menu that appears.
Once you login to the trading software you'll get access to charts and other analysis tools such as and like indicators that you'll then use to place trade positions within the market while linked to your online broker's servers.
Gold Platform Menu Bar & ToolBars
Menu Bar in MetaTrader 4 for Navigating within the Platform
Menu bar is used to operate and navigate this platform from one panel. From this panel you as a Gold trader can set how to view tool-bars, chart, data window and even use the file tab to open a account - & also sign in to your platform account.
From the menu bar you can click on view tab and select tool-bars like in the above illustrated screenshot, these menu bars can be used to setup platform charts, indicators, time-frames, & others things like drawing trend lines and Fib retracement areas and Fib expansions. To learn how to customize the software platform navigate to this MT4 XAUUSD Software Guide Section.
Now that we have looked at the tool bar and menu bar, we will look at the main workspace interface of the MetaTrader 4 platform.
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Market Watch window - This panel is used to show a streaming list of the exchange rates that's gotten from your gold broker. In this market-watch panel you as a gold trader can right click anywhere on this panel to select show all gold or hide the ones you are not interested in and save some band-width at the same time. No need to have prices for 50 xauusd if you are only interested 4 xauusd.
Data Window Panel - Used to set-up Trading Indicators, EAs and scripts, you can click any of this menu sub items and expand/collapse the indicators or Expert Advisors used for automated trading.
Charts Panel - This is where price moves will be drawn.
Charts Tab - Navigation from one xauusd to another is easy, just flip through the charts tab as is shown above.
Terminal - This window is used to display a statement of your trades, profits and loses which you have made in your live account or demo trade account. To enlarge this panel & view open trades, just hover the mouse on the terminal toolbar until the cursor pointer changes, click and hold down mouse button & then move cursor upwards.
Connection bars - These are used to show connection to the net, red bars mean no net connection, green bars show there is online connection.
Exchange Rates Graph - this portrays the exchange rates for the xauusd that you're trading so as to display if the exchange rate is going upwards or downwards.
Why MT4 is Best Software
In the online trading market there are many platforms available around the internet. But among the top softwares best trading platform is MetaTrader 4 software, it's the best trading platform because of following reasons:
Low Bandwidth Connection Requirement
Not everyone can afford the best internet connection, the T1 connection, the satellite internet, ADSL or Fiber internet connection: furthermore, these aren't readily available to some residential levels and may be limited to the commercial/office buildings. This is why it is best to select a software which requires the minimum bandwidth, the MetaTrader 4 software. Even with the best connection, sometimes the connection might not be available & you might need to use an alternative connectivity like the dial up or modem. MT4 is the least expensive if you are on a modem. To even reduce further the inter-net band width usage navigate to marketwatch (Short-cut press CTRL+M), Right-Click on any xauusd instrument, Select 'Hide all', now the platform will only stream the price quotes for the pairs you only need and conserve your band width even further. Especially when using a phone or i Pad or Tablet where you are paying for info plan credit this can save your credit. This is one of reason why the MT4 is considered as one of the best trading softwares online.
The easier it is to connect the easier it's open & close trade transactions on time.
Provided by all Online Brokers
Another reason why this software is considered as one of best platform is because MetaTrader 4 is liked by most traders all brokers provide it. Once as a learns the MetaTrader 4 platform/software there is no need to re-learn a new trading platform when you switch and move to another broker. You can still use the same MetaTrader 4 of the new broker without need to learn a new platform all over again.
Easy Technical Analysis
The other thing which makes this the best software is ease with which you can set-up the trading analysis technical indicators on the trading charts. Even those using various web traders will do their analysis in the MetaTrader 4 platform software and then place their trade orders on their webtrader.
Technical traders also can install custom technical indicators on this software, making it easier to add more trading analysis tools onto the software. Others also install Expert Advisors on this software so that to trade mechanically with these programs known as Automated EA XAUUSD Robots.
Best Charts
The MetaTrader 4 has the best trading software charts representations available and implements many chart time-frames from which a investor can select.
Simplicity
Overall the simplicity of this software platform & the fact that any investor can learn how to use MT4 within one hour makes this the best software for new & experienced traders.
According to gold platform reviews of the top platforms MT4 is the best platform - XAUUSD Trading Trusted Platforms MT4 XAUUSD Platforms. Hence, traders looking for what is the best software can start trading with the MetaTrader 4 platform - XAUUSD Trading Trusted Platforms - as it's the best software platform & it is very easy to learn.
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