Top Platform Gold Education - The Best Gold Trading Platform
Practice Trading - Set of Gold Platform Courses for Beginner
The following screenshot below shows the main MT4 software inter-face. As a beginner trader trying to learn how to execute gold orders in the online gold market, the main tool for trading the gold market is the MetaTrader 4 software software. This MT4 platform is the software that you will connect to your gold trading broker with & execute gold trade transactions and monitor your gold account balance from this MetaTrader 4 platform.
The Gold MetaTrader 4 platform software is provided for free through the various Gold broker web sites. This MT4 platform looks like the example below:
Main Areas of this MT4 software as illustrated above are:
- MT4 Navigation Menus
- Toolbars
- MetaTrader 4 Chart Window
- MT4 Navigator Window
- MT4 Market Watch Window
- MT4 Terminal
- MT4 Connection Bars
For this MetaTrader 4 tutorial we shall look at a brief introduction for each of these learn gold MetaTrader 4 platform:
1. Navigation Menus
The MT4 navigation menus are:
- File
- View
- Insert
- Charts
- Tools
- Window
- Help
These are the main MT4 navigation menus that can be used to navigate MetaTrader 4 software. As a beginner trader you can start by clicking any of these MetaTrader 4 navigation menus to familiarize yourself with the various MT4 buttons which are arranged as MT4 sub-menus within these MetaTrader 4 navigation menus.
These MT4 navigation menus will be discussed and covered in details in the next MT4 guides about navigation menus.
2. Tool-Bars
The MetaTrader 4 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 list of saved MetaTrader 4 templates.
These MetaTrader 4 tool-bars will be discussed on other MetaTrader 4 tutorials which will outline each MetaTrader 4 button key on this MT4 toolbar and how to add and customize these MetaTrader 4 toolbars.
3. Chart Panel
This MT4 chart window is the main area where MT4 gold charts are displayed & a trader can analyze the trend direction of a MetaTrader 4 chart whether up or down, place MetaTrader 4 chart indicators for technical analysis & even place orders from these MT4 charts.
4. Navigator
MetaTrader 4 Navigator will contain data about MT4 trading accounts, whether practice or real, this MT4 window will also have a list of all the MT4 indicators as well as MetaTrader 4 Expert Advisors and scripts.
A trader can select which MT4 account to login by expanding the Accounts menu, choose an MT4 indicator by expanding the MT4 indicator menu or choose an MT4 Expert Advisor by expanding the Expert Advisor menu.
5. Market Watch
MetaTrader 4 Market watch is used to show streaming trading quotes for MT4 quotes. This can list as many quotes provided by your MT4 Gold broker or a few selected by a trader. To save inter net bandwidth, right-click inside MetaTrader 4 market watch window panel & select "Hide All", so as to hide the currencies that you are not transacting on this MetaTrader 4 software and save on internet band width.
6. Terminal
This is MT4 window panel that's like the bank account trade area for your MetaTrader 4 gold trade transactions, on this MT4 window you can view your account balance, profit & losses statement, equity, margin used also retrieve a copy of all your MT4 gold trade transactions history.
This MT4 window panel will also list all open gold trade transactions & calculate all the profit & loss in real-time as the gold currencies move up or down.
7. Connection Bar
MT4 connection bars - Red bars are for no connectivity, green bars show that there's connectivity to the servers & MetaTrader 4 gold trade orders can be placed. These MT4 connection bars should always be green when one logged into their MetaTrader 4 demo account or MetaTrader 4 live account.
These MetaTrader 4 platform main areas form the MT4 software interface & will be the main areas to be covered in detail in next learn MetaTrader 4 tutorials. For now it is best to download MT4 platform software & familiarize yourself with MetaTrader 4 platform interface.
Why XAUUSD Software is Required for Placing Transactions with Gold Brokers
Gold platform is the software that is used to access the gold market & analyze these market movements using gold charts and gold technical analysis tools. There are various reasons why a trader requires to use a good gold platform. A good gold software can determine if a as a trader you make profit or not.
So why does a trader need a good Gold Trading Software:
To connect to the Gold Broker Trading Server:
To place a gold trade order a trader needs to use a gold software which will connect to the trading servers of their gold broker and this will allow them to open and close gold trade orders. Good gold platforms will connect with ease to the brokers' servers & allow gold traders to place gold orders at any time from their desktop PC computer.
To analyze gold charts & currencies using gold trading analysis tools
To place a buy or sell gold order one needs to first analyze the direction of a trading symbol using gold charts. This is why all good gold platforms provide gold trading technical tools such as gold price charts, gold indicators and various different chart timeframes from which one-can analyze gold price moves using the gold chart timeframes of their choice.
From the above gold platform interface, the summary of all information required by a trader is provided on this MT4 software interface
- Connection - connection to the broker servers
- Charts - price graphs that display gold prices
- Toolbars - toolbars to add tools & technical analysis indicators on gold trading charts
- Market Watch - for displaying available financial instruments on MetaTrader 4
- Data window - provides MT4 account data and other indicator data
- Exchange rates - shows current market price of a trading symbol
- Menu bar - Shows all menu items in the MetaTrader 4 software
