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