MT5 Platform - MT5 Gold Platforms - MetaTrader 5 Trading Platforms
MT5 Gold Charts - MT5 Gold Platform Trading & Orders
If you want to learn how to set-up the MT5 platform this gold tutorial explains the step by step tutorial on how to setup MetaTrader 5 for beginners with example - Gold Get to Know Your MetaTrader 5 Platform - Get to Know Your MT5 Platform.
The following example below shows the main MT5 platform inter-face. As a beginner trader trying to learn how to execute orders in online gold market, the main gold tool for trading the market is the MT5 platform software. This is the trading software that you will connect to your gold broker with & execute gold transactions & monitor your gold trading account balance.
The MT5 platform for trading gold is provided for free by gold brokers. This MetaTrader 5 platform looks like the example below:
Learn MT5 Platform
Main Areas of this MetaTrader 5 software as shown above are:
- Navigation Menus
- Toolbars
- Chart Window
- Navigator
- Market Watch
- Terminal
- Connection Bars
For this MT5 Setup guide we shall look at a brief introduction for each of these:
1. MetaTrader 5 Navigation Menus Get to Know Your MT5 Platform
The MT5 navigation menus are:
- File
- View
- Insert
- Charts
- Tools
- Window
- Help
These MetaTrader 5 menus are main navigation menus that can be used to navigate the MT5 software software. As a gold 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 MT5 software navigation menus will be described and discussed in details in the next MetaTrader 5 setup guides about navigation menus - Get to Learn Your MetaTrader 5 Trading Platform.
2. MetaTrader 5 Tool Bars MetaTrader 5 Setup
The MT5 tool-bars are used to manipulate gold charts, either by placing technical gold indicators, line studies, change gold 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 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 Chart Window Panel MetaTrader 5 Setup
MT5 Chart Panel is the main area where gold charts are displayed and one-can analyze the gold trend direction of a gold chart whether up or down, place gold indicators for technical analysis & even place trading orders from these gold charts - Get to Know Your MT5 Trading Platform.
5. MT5 Navigator MT5 Setup
MT5 Navigator will contain information about gold accounts, whether practice account or real account, this window will also have a list of all the MT5 indicators as well as Expert Advisors & scripts.
A trader can choose which MetaTrader 5 gold trading account to login by expanding the Accounts menu, select a chart technical indicator by expanding the MetaTrader 5 indicator menu or select an Automated Expert-Advisor by expanding the MT5 Expert Advisor menu - Get to Know Your MT5 Trading Platform.
5. MT5 Market Watch MetaTrader 5 Setup
MetaTrader 5 Market watch is used to show streaming quotes for quotes. This can list as many quotes provided by your Gold broker or a few selected by a trader. To save internet band width, right click inside the market watch window panel & select 'Hide All', so as to hide the currencies that you're not transacting & save on internet band width.
6. MT5 Terminal MetaTrader 5 Setup
This is the panel that is like the bank account trade area for your gold trade transactions, 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 currencies move up or down.
7. MT5 Connection Bar MetaTrader 5 Setup
Red bars are for no connectivity, green bars show that there's connectivity to the servers & trade orders can be set. These MetaTrader 5 connection bars should always be green when one logged into their practice account or real account.
These main areas form the MT5 Platform Setup tutorial and will be the main areas to be covered in detail in next learn MetaTrader 5 software tutorials. For now it's best to download MetaTrader 5 platform and familiarize yourself with the MetaTrader 5gold trading software interface.
Why MT5 XAUUSD Software is Required for Placing Trade Transactions with Brokers
MetaTrader 5 software is the software that's used to access the gold market & analyze these currencies using technical analysis. There are various reasons why a trader requires to use a good gold trading 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 platform:
To connect to the Trading Server:
To place a order when trading online a trader needs to use a software which will connect to the trading servers of their gold broker and allow them to open & close orders. Good gold trading softwares 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 & currencies using technical analysis
To open buy or sell order a trader needs to first interpret direction of a symbol. This is why all good gold platforms provide technical tools such as price charts, technical indicators & various different time frames from which one can analyze price moves using chart time frames of their choice.
MT5 Gold Trading 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 that display 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 price of a trading symbol
- Menu bar - Shows all menu items in the MetaTrader 5 platform
MT5 Gold Trading Platform Setup
