Meta Trader 4 Software for Gold - MetaTrader 4 Software

MetaTrader 4 Platforms - MetaTrader 4 Softwares

The following screen-shot below shows the main MT4 platform interface. As a beginner trader trying to learn how to execute trading orders in the online trading market, the main tool for trading the market is the MetaTrader 4 software software. This MT4 is the trading software that you'll connect to your broker with & execute trade transactions & monitor your account balance from the Meta Trader 4 platform.

The MT4 platform is provided free through the different Gold broker web sites. This MetaTrader 4 software resembles the examples below:

Main Areas of this MT4 as displayed above are:

1. MT4 Navigation Menus
2. ToolBars
3. MT4 Chart Window
4. MT4 Navigator Window Panel
5. MT4 MarketWatch WindowPanel
6. MT4 Terminal
7. MetaTrader 4 Connection Bars

For this MetaTrader 4 tutorial we shall look at a brief introduction for each of these learn MetaTrader 4 software:

1. Navigation Menus

The MetaTrader 4 navigating menus are:

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

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

These MetaTrader 4 navigation menus will be covered in details in the next MetaTrader 4 lessons about navigating menus.

2. Tool Bars

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

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

3. Chart Window

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

4. Navigator

Meta Trader 4 Navigator will contain information about MetaTrader 4 accounts, whether demo or real, this MetaTrader 4 window will also have a list of all the MT4 trading indicators as well as MetaTrader 4 Expert Advisors & scripts.

A trader can select which MT4 account to login by expanding the Trading Accounts menu, select an MT4 indicator by expanding the MT4 indicator menu or select an MT4 Expert Advisor by expanding the Automated Expert Advisor menu.

5. Market Watch

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

6. Terminal

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

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

7. Connection Bar

Meta Trader 4 connection bars - Red bars are for no online connectivity, green bars show that there is connection to the servers & MT4 trade orders can be set. These MT4 connection bars should always be green when one logged into their MetaTrader 4 demo account or MT4 live account.

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

Why Platform Software is Required for Opening Transactions with Online Brokers

Gold platform is the software which's used to access the market and analyze these market movements using charts and analysis tools. There are different reasons why one requires to use a good software. A good software can determine if a as a xauusd trader you make profit or not.

So why does a gold trader need a good Software:

To connect to the Online Broker Server:

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

To analyze charts & currencies using analysis tools

To open a buy/sell order a trader needs to first interpret the direction of a symbol using charts. This is why all good platforms provide trading analysis tools for example price charts, indicators & various different chart time-frames from which a trader can analyze price moves using the time-frames of their choice.

From the above platform work-space, the summary of all information required by a trader is provided on this MetaTrader 4 platform interface

• Connection - connection to the broker servers
• Charts - price graphs that display prices
• ToolBars - tool-bars to add tools & analysis technical indicators on the charts
• Market Watch - for displaying available instruments on MT4
• Data panel - provides MetaTrader 4 account information & other technical indicator data
• Exchange rates - highlights ruling price of a trading symbol
• Menu bar - Shows all menu items on MetaTrader 4 platform

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