XAUUSD Platform
The best trusted platform software is the MT4 software. This platform is one of the most common software which's used by almost every other trader as well as by almost every online broker.
In this learn MetaTrader 4 tutorial we shall explain 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 this platform MT4 software there are several toolbars as well as chart windows.
You can download this online platform from your broker's website. Now after you download platform, then you will need to know one or 2 things about this platform:
First thing is how to install this platform after you download. For example if you download the MT4, you'll need to go to a online broker first, register for a practice trade account then after you register for a demo trading account you'll be provided with a link where to download the MetaTrader 4 platform.
Once you download this 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 tools, choose download folder place, (shortcut: once you as a trader launch your 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've downloaded, launch the download from where you downloaded, from there an installation pop up wizard appears & all you've to do is to follow the setup instructions. After setup the software will run just like any other software. Read guide How to install MetaTrader 4 platform.
You can open the MT4 software from the start menu>>> Programs or from the desktop shortcut that appears as a desk-top icon marked MetaTrader 4 after installation.
Demo Account Opening & Login
To open a trading account on MT4 just click on 'file' & then on open an account, to log in to an account just click on 'file' at the top right corner and click sign in from the drop-down menu that appears.
Once youlogin to the platform you will get access to charts and other analysis tools such as indicators that you'll then use to place trades within the market while connected to your online broker's servers.
Gold Software Menu Bar & Tool-Bars
Menu Bar in MetaTrader 4 for Navigating within the Software
Menu bar is used to operate and navigate this 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 - & also login to your platform account.
From the menu bar you can click on view tab and select tool-bars like in the above pictured image, these menu bars can be used to set up platform charts, indicators, time frames, & others things like drawing trend lines and Fib retracement areas and Fibonacci expansions. To learn how to customize this platform software navigate to this MT4 XAUUSD Software Guide Section.
Now that we have looked at the tool bar and menu bar, we shall look at the main work space inter-face of the MetaTrader 4 platform.
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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 select show all gold or hide the ones you are not interested in and save some bandwidth at the same time. No need to have prices for 50 xauusd if you are only interested 4 xauusd.
Data Window - Used to setup Indicators, EAs and scripts, you can click any of this menu sub items and expand/collapse the technical 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 shown above.
Terminal - This window panel is used to display a statement of your trade transactions, profits and loses that 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 changes, click and hold down mouse button & then move cursor upwards.
Connection bars - These are used to show connection to net, red bars mean no net connection, green bars show there's internet connectivity.
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 market there are many softwares available around the internet. But among the top softwares best platform is MetaTrader 4 software, it is the best software because of following reasons:
Low Bandwidth Connection Requirement
Not everyone can afford the best internet connection, the T1, the satellite, ADSL or Fiber Optic internet connection: furthermore, these ##2aren't readily available to some residential areas ##2and ##3may be limited to office buildings. This is why it is best to select a software which requires the minimum band-width, the MT4 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 (Shortcut 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 data plan credit this can save your credit. This is one of reason why the MT4 is considered as one of the best 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 software there is no need to re-learn when you switch 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 technical analysis indicators on the charts. Even those using various web traders will do their analysis in the MT4 platform and then place their orders on their web trader.
Technical traders also can install custom indicators on this software, making it easier to add more technical analysis tools onto this platform. Others also install Expert Advisors on this platform so as to trade automatically with these programs referred to as Automated EA XAUUSD Robots.
Best Charts
The MetaTrader 4 has the best platform charts representations available and implements many chart timeframes from which a investor can select.
Simplicity
Overall the simplicity of this platform software & 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 platform software and it is very easy to learn.
