Introduction to MetaTrader 4 Interface

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

The Gold MetaTrader 4 software is provided for free through the various broker sites. This MetaTrader 4 platform looks like the example illustrated below:

Main Areas of this MetaTrader 4 platform as shown above are:

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

For this MetaTrader 4 guide we shall look at a brief introduction for each of these learn xauusd Meta Trader 4:

1. Navigation Menus

The MetaTrader 4 navigation 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. As a beginner you can begin by clicking any of these MT4 navigation menus to familiarize yourself with various MetaTrader 4 button keys which are arranged as MT4 sub-menus within these MT4 navigation menus.

These MetaTrader 4 navigation menus will be discussed in details in the next Meta Trader 4 guides about navigation menus.

2. Tool-Bars

The MT4 tool-bars are used to manipulate MT4 charts, either by placing Meta Trader 4 technical indicators, MetaTrader 4 line studies, change MT4 chart time-frames & load Meta Trader 4 template from a list of saved Meta Trader 4 templates.

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

3. Chart Window

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

4. Navigator

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

A trader can select which MT4 account to sign in by expanding the Accounts menu, choose an MT4 indicator by expanding the MT4 indicator menu or choose an MT4 Gold Expert-Advisor by expanding the Expert-Advisor menu.

5. Market Watch

MT4 Market watch window panel is used to show streaming price quotes for MT4 xauusd. This can listing as many trading symbols provided by your MT4 broker or a few chosen by a trader. To save internet bandwidth, rightclick inside the MT4 market watch window and select 'Hide All', to hide the MT4 symbols that you aren't transacting on this MT4 platform and save on internet band width.

6. Terminal

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

This MetaTrader 4 panel will also list all open trade transactions & calculate all the profit and loss in real-time as the charts move up/down.

7. Connection Bar

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

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

Why Trading Platform is Required for Placing XAUUSD Transactions with Brokers

Xauusd platform is software which's used to access the market & analyze these trading price movements using xauusd charts and xauusd technical analysis tools. There are various reasons why one 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 one need a good platform:

To connect to the Broker Server:

To place a xauusd trade order one needs to use a xauusd platform which will connect to the servers of their xauusd broker and this will allow them to open and close xauusd trade orders. Good xauusd platforms will connect with ease to the brokers' servers and allow gold traders to place trade orders at any time from their desktop PC computer.

To analyze xauusd charts using technical analysis tools

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

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

• Connection - connection to the broker servers
• Charts - price graphs which show gold prices
• Toolbars - toolbars to add tools & technical analysis indicators on charts
• Market Watch - for displaying available instruments on MT4
• Data panel - provides MetaTrader 4 account data and other indicator data
• Exchange rates - shows current market price on a gold chart
• Menu bar - Shows all menu items on MetaTrader 4