MT4 XAUUSD Platform Setup

If you want to learn how to set-up the MetaTrader 4 platform this xauusd tutorial guide explains the xauusd step by step guide on how to setup MT4 XAUUSD Platform for beginners with examples.

The following screenshot below shows the main MT4 software inter-face. As a beginner trader trying to learn how to execute orders in online xauusd market, the main tool for trading the xauusd market is the MetaTrader 4 software software. This is the xauusd software that you will connect to your xauusd broker with & execute xauusd transactions and monitor your trading account balance.

The MT4 platform for trading xauusd is provided for free through the various xauusd broker web sites. This MT4 software looks like the xauusd example shown below:

Learn MT4 XAUUSD Platform - MT4 XAUUSD Platform Setup

Main Areas of this MT4 software as illustrated above are:

1. Navigation Menus
2. Toolbars
3. Chart Window
4. Navigator
5. Market Watch
6. Terminal
7. Connection Bars

For this MT4 XAUUSD Platform Setup tutorial we shall look at a brief introduction for each of these:

1. MetaTrader 4 Navigation Menus MetaTrader 4 XAUUSD Platform Setup

The MT4 navigation menus are:

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

These MetaTrader 4 menus are the main navigation menus which can be used to navigate the MetaTrader 4 platform software. As a xauusd beginner you can start by just clicking any of these MT4 platform navigation menus to familiarize yourself with the various buttons that are arranged as sub menus within these navigation menus.

These MT4 platform navigation menus will be discussed in details in the next MetaTrader 4 software setup tutorials about navigation menus.

2. MetaTrader 4 Tool Bars MetaTrader 4 XAUUSD Platform Setup

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

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

3. MetaTrader 4 Gold Chart Window MetaTrader 4 XAUUSD Platform Setup

MetaTrader 4 Gold Chart Window Panel is the main area where xauusd charts are displayed and one-can analyze the xauusd trend direction of a xauusd trading instrument whether up or down, place xauusd indicators for technical analysis and even place trading orders from these xauusd charts.

4. MetaTrader 4 Navigator MetaTrader 4 XAUUSD Platform Setup

MetaTrader 4 Navigator will contain information about xauusd accounts, whether practice xauusd account or real account, this window will also have a list of all MT4 indicators as well as Expert Advisors and scripts.

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

4. MetaTrader 4 Market Watch MetaTrader 4 XAUUSD Platform Setup

MT4 Market watch is used to show streaming quotes for trading instruments. This can list as many quotes provided by your xauusd broker or a few selected by a trader. To save inter net bandwidth, right click inside the xauusd market watch window and select "Hide All", so as to hide the MT4 symbols that you are not transacting and save on internet band width.

6. MetaTrader 4 Terminal MetaTrader 4 XAUUSD Platform Setup

This is window that's like the bank account trade area for your xauusd trades, on this window you can view your balance, profit & losses statement, equity, margin used also retrieve a copy of all your gold trades transactions history.

This will also list all open trade transactions & calculate all the profit & loss in real-time as the gold prices move in an upwards or downward direction.

7. MetaTrader 4 Connection Bar MetaTrader 4 XAUUSD Platform Setup

Red bars are for no connectivity, green bars show that there is connection to the servers and trade orders can be set. These MetaTrader 4 connection bars should always be green when one logged into their demo xauusd account or real account.

These main areas form the MetaTrader 4 Platform Setup tutorial and will be the main areas to be covered in detail in next learn MT4 platform tutorials. For now it is best to download MetaTrader 4 platform & familiarize yourself with MetaTrader 4 platform interface.

Why MetaTrader 4 XAUUSD Software is Required for Placing XAUUSD Trade Transactions with Brokers

MT4 software is the software that is used to access the xauusd market & analyze these gold price movements using technical analysis. There are various reasons why a trader requires to use a good xauusd platform. A good xauusd platform can determine if a as a trader you make a profit or not.

So why does a trader need a good platform:

To connect to the Trading Server:

To place an order when trading online a trader needs to use a platform which will connect to the trading servers of their xauusd broker & allow them to open and close orders. Good xauusd platforms will connect with ease to the brokers' servers & allow traders to place trading orders at any time from their desktop computer.

To analyze gold charts using technical analysis

To open a buy or sell order a trader needs to first interpret direction of a xauusd. This is why all good xauusd platforms provide technical tools such as gold price charts, technical indicators & various different time frames from which one can analyze gold price moves using chart time-frames of their choice.

MT4 XAUUSD Platform Setup

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

• Connection - connection to the broker servers
• Charts - price charts which display gold prices
• Toolbars - tool bars to add tools & technical analysis technical indicators
• Market Watch - for displaying available financial instruments
• Data window - provides account data & other indicator data
• Exchange rates - shows current market gold price on a xauusd chart
• Menu bar - Shows all menu items in the MetaTrader 4 software

MT4 XAUUSD Platform Setup