Meta Trader 4 Software for Gold - MetaTrader 4 Platform Software

MT4 Platforms - MetaTrader 4 Platform Softwares

The following screenshot below indicates 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 platform software. This MetaTrader 4 is the software that you will connect to your broker with and execute trade transactions and monitor your account balance from the MT4 software.

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

Main Areas of this MT4 as displayed above are:

1. MT4 Navigation Menus
2. Tool-Bars
3. MetaTrader 4 Chart Panel
4. MetaTrader 4 Navigator Panel/Window
5. MT4 Market Watch WindowPanel
6. MT4 Terminal
7. MT4 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 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 software. As a beginner you as a gold trader can begin by clicking any of these MetaTrader 4 navigating menus to familiarize yourself with different MetaTrader 4 buttons which are arranged as MetaTrader 4 submenus within these MT4 navigation menus.

These MetaTrader 4 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 MT4 charts, either by placing MT4 indicators, MetaTrader 4 line studies, change MT4 time frames and load MT4 template from a listing of saved MT4 templates.

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

3. Chart Panel

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

4. Navigator

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

A trader can select and choose which MetaTrader 4 account to login 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 Expert Advisor(EA) menu.

5. Market Watch

MT4 Market watch is used to show realtime quotes for MT4 quotes. This can listing as many trading symbols provided by your MT4 broker or a few selected by a gold trader. To conserve internet band width, right click inside MT4 market watch panel and select 'Hide All', to hide the currencies that you're not trading/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 MT4 panel you as a Gold trader can view your account balance, profit and losses statement, equity, margin used & also generate a copy of all your MetaTrader 4 trade transactions history.

This MT4 panel also will list all open trade positions and 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's connection to the servers and MT4 orders can be set. These MetaTrader 4 connection bars should always be green when a trader is logged into their MT4 practice account or MetaTrader 4 real account.

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

Why Platform/Software is Required for Opening Transactions with Brokers

Gold platform is the software which's used to access the market & analyze and interpret these market movements using charts and analysis tools. There are different explanations why a trader requires to use a good software. A good software can determine if a as a gold 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 and open a trade order a trader needs to use a software platform that will connect to the servers of their broker and this will allow them to open & close-out trade orders. Good softwares will connect with ease to the brokers' servers & allow traders to place orders at any time from their computer.

To analyze charts and 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 and various different chart time-frames from which one can analyze and interpret price movements using the 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 prices
• Tool-Bars - toolbars to add tools & analysis indicators on the charts
• Market Watch - for displaying available instruments in MT4 Platform
• Data panel - 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

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