Introduction to MetaTrader 4 Interface

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

The XAUUSD MetaTrader 4 software software is provided for free through the various broker sites. This MT4 platform looks like the example shown below:

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

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

For this MT4 tutorial we shall look at a brief introduction for each of these learn xauusd Meta Trader 4 platform:

1. Navigation Menus

The MetaTrader 4 navigation menus are:

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

These are the main MetaTrader 4 navigation menus that can be used to navigate MetaTrader 4 platform. As a beginner trader you can begin by clicking any of these MetaTrader 4 navigation menus to familiarize yourself with various MT4 button keys which are arranged as MetaTrader 4 sub-menus within these MetaTrader 4 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, MT4 line studies, change MT4 chart time-frames & load Meta Trader 4 template from a list of saved Meta Trader 4 templates.

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

3. Chart Panel

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 or down, place MT4 chart indicators for technical analysis & even place orders from these MT4 charts.

4. Navigator

MT4 Navigator will contain information about Meta Trader 4 accounts, whether practice 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 list as many quotes provided by your MT4 broker or a few selected by a trader. To save internet bandwidth, rightclick inside the MT4 market watch window and select 'Hide All', so as 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 MetaTrader 4 window panel that's like the bank account trade area for your MT4 trade transactions, on this MetaTrader 4 window you can view your account balance, profit and losses statement, equity, margin used also retrieve a copy of all your MetaTrader 4 trade transactions history.

This MT4 window will also list all open trade transactions & calculate all the profit and loss in real-time as the 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 & 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 areas form the MetaTrader 4 platform interface & will be the main areas to be covered in detail in next learn MetaTrader 4 tutorials. For now it's best to download MetaTrader 4 software software & familiarize yourself with MT4 platform interface.

Why Trading Platform is Required for Placing XAUUSD Transactions with Brokers

Xauusd platform is software that's used to access the market and 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 & this will allow them to open & close xauusd trade orders. Good xauusd platforms will connect with ease to the brokers' servers & allow gold traders to place trade orders at any time from their desktop PC computer.

To analyze xauusd charts using technical analysis tools

To place a buy or 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 chart time frames from which one-can analyze price moves using the chart 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 and technical analysis indicators on charts
• Market Watch - for displaying available instruments in MT4
• Data panel - provides MetaTrader 4 account data and other indicator data
• Exchange rates - shows current market price on a xauusd chart
• Menu bar - Shows all menu items on MT4 platform