Introduction to MT4 XAUUSD Platform Interface
The following screen shot below shows the main MetaTrader 4 gold trading platform interface. As a beginner xauusd trader trying to learn how to execute xauusd orders in the online xauusd market, the main tool for trading the xauusd market is the MetaTrader 4 gold trading platform software. This MT4 gold trading platform is the software that you will connect to your xauusd broker with and execute xauusd trade transactions and monitor your xauusd account balance from this MT4 gold trading platform.
The XAUUSD Trading MetaTrader 4 gold trading platform software is provided for free through the various xauusd broker websites. This MetaTrader 4 xauusd trading software looks like the xauusd example shown below:
The Main Areas of this MT4 gold trading platform as shown above are:
- MT4 Navigation Menus
- MT4 Gold Chart Window
- MT4 Navigator Window
- MT4 Market Watch Window
- MT4 Terminal
- MT4 Connection Bars
For this MT4 tutorial we shall look at a brief introduction for each of these learn xauusd MetaTrader 4 platform:
1. Navigation Menus
The MT4 navigation menus are:
These are the main MT4 navigation menus that can be used to navigate the MetaTrader 4 xauusd trading software. As a beginner xauusd trader you can start by just clicking any of these MT4 navigation menus to familiarize yourself with the various MT4 buttons that are arranged as MT4 sub menus within these MT4 navigation menus.
These MT4 navigation menus will be discussed in details in the next MT4 tutorials about navigation menus.
2. Tool Bars
The MT4 tool bars are used to manipulate MT4 xauusd charts, either by placing MT4 xauusd indicators, MT4 line studies, change MT4 xauusd chart time frames and load MT4 template from a list of saved MT4 templates.
These MT4 tool bars will be discussed on other MT4 tutorials that will outline each MT4 button on this MT4 tool bar and how to add and customize these MT4 tool bars.
3. Chart Window
This MT4 xauusd chart window is the main area where MT4 xauusd charts are displayed and a xauusd trader can analyze the xauusd trend direction of a MT4 xauusd chart whether up or down, place MT4 xauusd chart indicators for technical analysis and even place orders from these MT4 xauusd charts.
MT4 Navigator will contain information about MT4 trading accounts, whether demo or real, this MT4 window will also have a list of all the MT4 xauusd indicators as well as MT4 Gold Expert Advisors and scripts.
A xauusd trader can choose which MT4 xauusd account to login by expanding the Accounts menu, choose an MT4 xauusd indicator by expanding the MT4 xauusd indicator menu or choose an MT4 Gold Expert Advisor by expanding the Expert Advisor menu.
5. Market Watch
MT4 Market watch is used to show streaming gold price quotes for MT4 xauusd instruments. This can list as many quotes provided by your MT4 xauusd broker or a few selected by a xauusd trader. To save internet bandwidth, right click inside the MT4 market watch window and select "Hide All", so as to hide the MT4 symbols that you are not transacting on this MT4 gold trading platform and save on internet bandwidth.
This is the MT4 window that is like the bank account transaction area for your MT4 xauusd trade transactions, on this MT4 window you can view your account balance, profit and losses statement, equity, margin used also retrieve a copy of all your MT4 xauusd trade transactions history.
This MT4 window will also list all open xauusd trade transactions and calculate all the profit and loss in real time as the gold charts move up or down.
7. Connection Bar
MT4 connection bars - Red bars are for no connection, green bars show that there is connection to the servers and MT4 xauusd trade transaction orders can be placed. These MT4 connection bars should always be green when one logged into their MT4 demo xauusd account or MT4 live account.
These MT4 gold trading platform main areas form the MT4 gold trading platform interface and will be the main areas to be covered in detail in the next learn MT4 tutorials. For now it is best to download MT4 gold trading platform software and familiarize yourself with the MT4 software interface.
Why XAUUSD Trading Software is Required for Placing XAUUSD Transactions with XAUUSD Brokers
xauusd trading platform is the software that is used to access the xauusd market and analyze these gold price movements using xauusd charts and xauusd technical analysis tools. There are various reasons why a xauusd trader requires to use a good xauusd platform. A good xauusd platform can determine if a as a xauusd trader you make a profit or not.
So why does a xauusd trader need a good xauusd platform:
To connect to the XAUUSD Broker Trading Server:
To place a xauusd trade order one needs to use a xauusd platform that will connect to the trading 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 xauusd brokers' servers and allow gold traders to place xauusd orders at any time from their computer.
To analyze xauusd charts using xauusd technical analysis tools
To place a buy or sell xauusd order one needs to first analyze the direction of a xauusd instrument using xauusd charts. This is why all good xauusd platforms provide xauusd technical tools such as gold price charts, xauusd technical indicators and various different xauusd chart time frames from which one can analyze gold price moves using the gold chart time frames of their choice.
From the above xauusd platform interface, the summary of all information required by a xauusd trader is provided on this MT4 gold trading platform interface
- Connection - connection to the xauusd broker servers
- Charts - gold price graphs that display xauusd prices
- Toolbars - tool bars to add tools and technical analysis indicators on gold charts
- Market Watch - for displaying available financial instruments on MT4 gold trading platform
- Data window - provides MT4 xauusd account information and other technical indicator data
- Exchange rates - shows current market gold price on a xauusd chart
- Menu bar - Shows all menu items on the MT4 gold trading platform