MT5 Gold Platform Tutorial for Beginner Traders

MT5 Gold Platform Tutorial for Beginner Traders

If you want to learn how to set-up the MT5 platform this xauusd tutorial guide explains the xauusd step by step guide on how to setup MT5 XAUUSD Platform for beginners with examples - Gold MT5 Platform Setup - MetaTrader 5 XAUUSD Platform Tutorial for Beginners.

The following example shown below shows the main MT5 platform inter-face. As a beginner trader trying to learn how to execute orders in online xauusd market, the main xauusd tool for trading the xauusd market is the MT5 platform software. This is the xauusd software that you will connect to your xauusd broker with & execute xauusd transactions and monitor your xauusd account balance.

The MT5 platform for trading xauusd is provided for free by xauusd brokers. This MT5 software looks like the xauusd example shown below:

Learn MetaTrader 5 XAUUSD Platform - MT5 XAUUSD Platform Setup

Main Areas of this MetaTrader 5 software as shown above are:

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

For this MT5 XAUUSD Platform Setup guide we shall look at a brief introduction for each of these:

1. MT5 Navigation Menus MT5 XAUUSD Platform Setup

The MT5 navigation menus are:

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

These MetaTrader 5 menus are main navigation menus that can be used to navigate the MT5 software software. As a xauusd beginner you can start by clicking any of these MT5 platform navigation menus to familiarize yourself with various button keys which are arranged as sub menus within these navigation menus.

These MetaTrader 5 platform navigation menus will be discussed in details in the next MetaTrader5 setup tutorials about navigation menus - MetaTrader 5 XAUUSD Platform Tutorial for Beginners.

2. MT5 Tool Bars MT5 XAUUSD Platform Setup

The MT5 tool-bars are used to manipulate xauusd charts, either by placing technical xauusd indicators, line studies, change xauusd chart timeframes and load an MT4 template from a list of saved templates on the MT5 platform.

These MetaTrader 5 tool bars will be discussed on other MT5 software setup tutorials which will outline each button on this tool bar and how to add and customize these MT5 tool bars - Gold MT5 Platform Setup Guide.

3. MT5 Gold Chart Window MT5 XAUUSD Platform Setup - MetaTrader 5 XAUUSD Platform Tutorial for Beginners - MetaTrader 5 XAUUSD Platform Tutorial Guide

MetaTrader 5 Gold Chart Panel is the main area where xauusd charts are displayed and one-can analyze the xauusd trend direction of a xauusd chart whether up or down, place xauusd indicators for technical analysis & even place trading orders from these xauusd charts - MT5 Trading Strategy Setup.

5. MT5 Navigator MT5 XAUUSD Platform Setup - MetaTrader 5 XAUUSD Platform Tutorial for Beginners - Gold MT5 Platform Setup

MT5 Navigator will contain information about xauusd accounts, whether practice xauusd account or real account, this window will also have a list of all the MT5 technical indicators as well as Expert Advisors and scripts.

A trader can choose which MetaTrader 5 xauusd account to login by expanding the Accounts menu, choose a chart technical indicator by expanding the MT5 indicator menu or choose an Automated Gold Expert Advisor by expanding the MT5 Expert Advisor menu - MetaTrader 5 XAUUSD Platform Tutorial for Beginners.

5. MT5 Market Watch MT5 XAUUSD Platform Setup

MetaTrader 5 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 internet band width, 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. MT5 Terminal MT5 XAUUSD Platform Setup

This is the panel that is like the bank account trade area for your xauusd trades, on this panel you can view your balance, profit and 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 upwards or downward.

7. MT5 Connection Bar MT5 XAUUSD Platform Setup

Red bars are for no connectivity, green bars show that there's connectivity to the servers & trade orders can be set. These MT5 connection bars should always be green when one logged into their demo xauusd account or real account.

These main areas form the MT5 XAUUSD Platform Setup tutorial and will be the main areas to be covered in detail in next learn MT5 platform tutorials. For now it is best to download MT5 software and familiarize yourself with the MT5 software interface.

Why MT5 XAUUSD Software is Required for Placing XAUUSD Trade Transactions with Brokers

MetaTrader 5 software is the software that's used to access the xauusd market & analyze these gold trading 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 that will connect to the trading servers of their xauusd broker and allow them to open & close orders. Good xauusd platforms will connect with ease to the brokers' servers and allow traders to place trading orders at any time from their desktop computer.

To analyze gold charts using technical analysis

To open 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 trading price charts, technical indicators & various different time-frames from which one can analyze gold price moves using the chart time frames of their choice.

MT5 XAUUSD Platform Setup

From the above MT5 platform interface, the summary of all information required by a trader is provided on this MT5 interface

• Connection - connection to the broker servers
• Charts - price charts which display gold prices
• Toolbars - tool bars to add tools and technical analysis technical indicators
• Market Watch - for displaying available financial instruments
• Data window panel - provides account information and other indicator data
• Exchange rates - shows current market gold trading price on a xauusd chart
• Menu bar - Shows all menu items in the MetaTrader 5 platform

MT5 XAUUSD Platform Setup