How Gold Market Platform Works?

Advanced Platform - How to Interpret The Market with Gold Platform

The following screenshot below indicates the main MT4 software interface. As a novice trader trying to learn how to execute orders in the online trading market, the main tool for trading the market is the MetaTrader 4 platform software platform. This MetaTrader 4 is the trading platform which you as a trader will connect to your broker with and execute gold trades and monitor your account balance from the MetaTrader 4 software.

The MT4 software is provided free through the different Gold broker web sites. This MT4 platform resembles the exemplifications below:

Main Areas of this MT4 just as is displayed above are:

1. MT4 Navigation Menus
2. Tool-Bars
3. MT4 Chart Panel
4. MT4 Navigator Panel Window
5. MetaTrader 4 Market Watch WindowPanel
6. MetaTrader 4 Terminal
7. MetaTrader 4 Connection Bars

For this MT4 guide we shall look at a brief introduction for each of the learn MetaTrader 4 software:

1. Navigation Menus

The MT4 navigation menus are:

1. File Tab
2. View Tab
3. Insert Tab
4. Charts Menu
5. Tools Menu
6. Window Tab
7. Help Tab

These are the main MetaTrader 4 navigation menus that can be used to navigate MT4 software. As a beginner trader you as a gold trader can begin by pressing any of these MetaTrader 4 navigation menus to accustom yourself with the different MT4 buttons which are arranged as MetaTrader 4 submenus within these MetaTrader 4 navigating menus.

These MT4 navigation menus will be covered in details & particulars in the next MT4 lessons about navigating menus.

2. Tool Bars

The MetaTrader 4 tool-bars are used to manipulate MetaTrader 4 charts, either by placing MT4 indicators, MetaTrader 4 line studies, change MT4 time frames and load MT4 template from a list of saved MT4 templates.

These MetaTrader 4 tool-bars will be discussed on other MT4 tutorials that will outline each MT4 button on this MT4 tool bar & how to add and customize these MT4 toolbars.

3. Chart Panel

This MT4 chart window is the main area where MT4 charts are highlighted & one can analyze & interpret the market trend direction of a MT4 chart whether up or down, place MT4 chart indicators for analysis & even place trade orders from these MetaTrader 4 charts.

4. Navigator

Meta Trader 4 Navigator will contain info about MetaTrader 4 accounts, whether practice or real, this MT4 window also will have a listing of all the MT4 indicators & also MT4 EAs & scripts.

A trader can select which MetaTrader 4 account to login and sign in by expanding the Accounts menu, choose an MetaTrader 4 indicator by expanding the MT4 indicator menu or select and choose an MetaTrader 4 EA by expanding the Automated EA(Expert Advisor) Expert Advisor(EA) menu.

5. Market Watch

MetaTrader 4 Market watch is used to show realtime trading quotes for MT4 quotes. This can list as many quotes provided by your MT4 broker or a few selected by a gold trader. To conserve internet band width, right click inside MetaTrader 4 market watch panel and select and choose 'Hide All', to hide the currencies that you're not trading/transacting on this MT4 and conserve and save on internet band width.

6. Terminal

This is the MetaTrader 4 panel that is like the bank account trade area for your MetaTrader 4 trades, on this MT4 panel you as a Gold trader can view your account balance, profit & losses statement, equity, margin used and also to retrieve a copy of all your MT4 trade positions history.

This MT4 panel will also list all open trades and calculate all the profit & loss in real time as the gold currencies move upward or downward.

7. Connectivity Bar

Meta Trader 4 connection bars - Red bars are for no online connectivity, green bars show that there is connection to the servers and MT4 orders can be set. These MT4 connection bars should always be green color when a trader is signed in to their MT4 demo practice trading account or MT4 live account.

These MetaTrader 4 software main areas form the MetaTrader 4 platform interface & will be the main levels to be discussed in detail in next learn MetaTrader 4 guides. For now it's best to download MT4 software and accustom yourself with MT4 software inter-face.

Why Gold Platform is Required for Placing Transactions with Brokers

Gold platform is the software which is used to access the market and analyze these market movements using charts and gold analysis tools. There are various explanations why a trader requires to use a good trading platform. A good gold software can determine if a as a gold trader you earn profit or not.

So why does a gold trader need a good Platform:

To connect to the Online Broker Server:

To place a trade order a trader needs to use a gold software that will connect to the servers of their broker & this will allow them to open and close out trade orders. Good trading softwares will connect with ease to the online brokers' servers and allow gold traders to place orders at any time from their computer.

To analyze charts and currencies using analysis trading tools

To place a buy or sell order a trader needs to first interpret and analyze the direction of a symbol using charts. This is why all good platforms provide trading technical tools like price charts, indicators and various different chart time-frames from which one-can interpret and analyze price movements using the chart time-frames of their choice.

From the above platform work space, the summary of all info required by a trader is provided on this MT4 software interface

• Connection - connection to the broker servers
• Charts - price graphs that display gold prices
• Tool-Bars - tool-bars to add tools & analysis indicators on the charts
• Market Watch - for displaying available instruments in MT4 Platform Software
• Data panel window - provides MT4 account information and other technical indicator data
• Exchange rates - shows ruling price of a symbol
• Menu bar - Shows all menu items on MetaTrader 4 software

Get More Courses & Tutorials:

• Brokers with Minimum Deposit FX Accounts
• How to Add True Strength Index TSI on MT4 Charts
• Top 10 XAU USD Brokers in the World
• Transforming Your Gold Psychology & Mindset When Trading
• UKX100 Index Buy and Sell Signals
• How to Use MT5 DeMarks Range Expansion Indices Indicator
• How Do You Set FRA40 Index on MT5 Platform?
• Hammer Bullish Candle Patterns
• DJ30 Signals System
• How to Use MT5 McGinley Dynamic on MT5 Platform