Trade Forex Trading

Can I Trade with Software?

Gold MT5 Platform - MT5 Software

The following screen shot below indicates the main MetaTrader 4 inter-face. As a beginner trying to learn how to execute trading orders in the online trading market, the main tool for trading the markets is the MT4 software software. This MT4 software is the trading software that you will connect to your broker with and execute trades and monitor your account balance from the MT4.

The XAUUSD MetaTrader 4 platform is provided free through the different Gold broker web sites. This MT4 software looks like the example below:

Does MT5 Only Trade XAUUSD ? - How to Use MetaTrader 5 Platform Lesson for Beginner Traders

Main Areas of this MT4 software just as is illustrated and shown above are:

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

For this MT4 lesson we shall look at a brief intro for each of these learn gold Meta Trader 4:

1. Navigation Menus

The MT4 navigating menus are:

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

These are the main MetaTrader 4 navigation menus which can be used to navigate MT4. As a beginner trader you as a trader can start by clicking any of these MT4 navigating menus to familiarize yourself with different MT4 buttons which are arranged as MetaTrader 4 submenus within these MT4 navigating menus.

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

2. Tool-bars

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

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

3. Chart Window Panel

This MT4 chart window is the main area where MT4 charts are displayed & a xauusd trader can analyze & interpret the market trend direction of a MT4 chart whether up/down, place MetaTrader 4 chart indicators for trading analysis and even place orders from these MT4 charts.

4. Navigator

MT4 Navigator will contain data about MT4 accounts, whether demo or real, this MT4 panel also will have a list of all the MT4 indicators & also MetaTrader 4 Expert Advisors and scripts.

A trader can select which MT4 trading account to sign in by expanding the Trading Accounts menu, choose an MetaTrader 4 technical indicator by expanding the MT4 technical indicator menu or choose an MT4 Expert-Advisor by expanding the Expert-Advisor menu.

5. Market-Watch

MT4 Market watch is used to display streaming trading quotes for MT4 quotes. This can list as many symbols provided by your MT4 online broker or a few selected by a gold trader. To save internet band-width, right-click inside MetaTrader 4 market watch panel & select "Hide All", so as to hide the currencies that you're not transacting on this MT4 software and save on internet band width.

6. Terminal

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

This MT4 window will also list all open trade positions and calculate all the profit & loss in real time as the gold currencies move up/down.

7. Connectivity Bar

Meta Trader 4 connection bars - Red bars are for no online connection, green bars show that there's connection to the servers & MT4 orders can be opened. These MT4 connection bars should always be green when a trader is logged into their MT4 demo account or MT4 live account.

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

Why Platform Software is Required for Opening and Placing Trade Positions with Online Brokers

Gold platform is the software which's used to access the market and analyze these market movements using charts and trading analysis tools. There are different grounds why one requires to use a good platform. A good 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 Broker Server:

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

To analyze & interpret charts and currencies using technical analysis tools

To open a buy or sell gold order one needs to first analyze the direction of a symbol using charts. This is why all good softwares provide trade tools like price charts, indicators and various different time-frames from which one can interpret the price moves using the timeframes of their choice.

Does MT4 Only Trade Gold? - How to Trade Using MT4 Software Platform Tutorial

From the above platform inter-face, the summary of all the info required by a trader is provided in this MT4 software interface

  • Connection - connection to the broker servers
  • Charts - price graphs which show the market prices
  • Tool-Bars - tool bars to add tools and trading analysis indicators on the charts
  • Market Watch - for displaying available financial instruments in MT4 Platform Software
  • Data panel window - provides MT4 account data & other indicator data
  • Exchange rates - displays ruling market price of a trading symbol
  • Menu bar - Shows all menu items in the MT4

Get More Lessons:

Forex Market Traders Seminar Gala

Forex Market Traders Seminar

XAUUSD Broker