Gold Platform MetaTrader 5 Setup for Windows - Gold Platform MT5 Platform
Can I Trade Gold with MT5? - Gold Platform MetaTrader 5
If you want to learn how to set-up MetaTrader 5 software this gold lesson explains the step by step lesson on how to setup Meta Trader 5 for beginners with example - Gold Get to Know Your MT5 Software - Get to Know Your MetaTrader 5 Platform.
The following example below shows the main MT5 software inter-face. As a beginner trader trying to learn how to execute orders in online market, the main tool for transacting the market is the MetaTrader 5 platform. This is the software that you will connect to your online broker with and execute gold trading transactions & monitor your equity balance.
The MT5 software for trading gold is provided for free by brokers. This MT5 software resembles the examples below:
Learn MetaTrader 5 Platform
Main Areas of this MT5 software as illustrated above are:
- Navigation Menus
- Tool-Bars
- 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 MetaTrader 5 Platform
The MT5 navigation menus are:
- File Menu
- View Menu
- Insert Menu
- Charts Menu
- Tools Menu
- Window Menu
- Help Menu
These MetaTrader 5 menus are the main navigation menus which can be used to navigate MT5 platform. As a beginner trader you can begin by clicking any of these MetaTrader 5 software navigation menus to familiarize yourself with the various buttons that are arranged as sub menus within these navigation menus.
These MetaTrader 5 platform navigation menus will be explained and discussed in details in the next MT5 setup tutorials about navigation menus - Get to Learn Your MetaTrader 5 Software.
2. MetaTrader 5 Tool-Bars MT5 Setup
The MetaTrader 5 tool bars are used to manipulate charts, either by setting technical indicators, line studies, change chart timeframes and load an MT4 template from a list of saved templates on the MetaTrader 5.
These MT5 toolbars will be discussed on other MetaTrader 5 setup tutorials which will outline each button on this toolbar and how to add and customize these MetaTrader 5 toolbars - Gold MT5 Software Setup Guide.
3. MT5 Chart Window MetaTrader 5 Setup
MT5 Chart Window Panel is the main area where charts are portrayed & one can analyze the trend direction of a chart whether up/down, place indicators for technical analysis & even place trading orders from these charts - Get to Know Your MT5 Software.
5. MT5 Navigator MetaTrader 5 Setup
MT5 Navigator will contain data about accounts, whether practice trade account or live 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 account to sign in by expanding the Accounts menu, choose a chart indicator by expanding the MetaTrader 5 indicator menu or choose an Automated Expert Advisor by expanding the MetaTrader 5 Expert-Advisor menu - Get to Know Your MetaTrader 5 Software.
5. MT5 Market Watch MetaTrader 5 Setup
MetaTrader 5 Market watch is used to show streaming quotes for quotes. This can listing as many symbols provided by your broker or a few chosen by a trader. To save inter net bandwidth, rightclick inside the market watch window panel and choose "Hide All", so as to hide the currencies that you are not transacting and save on internet band width.
6. MT5 Terminal MetaTrader 5 Setup
This is window that's like the bank account trade area for your trade transactions, on this panel window you can view your equity balance, profit & losses statement, equity, margin used & also generate a copy of all your trades transaction history.
This will also list all open trade transactions and calculate all the profit and loss in real-time as the currencies move up/down.
7. MT5 Connection Bar MT5 Setup
Red bars are for no connection, green bars show that there is connection to the servers and trading orders can be set. These MT5 connection bars should always be green when one is logged into their practice trading account or live account.
These main areas form the MT5 Software Setup guide and will be the main areas to be covered in detail in next learn MetaTrader 5 platform guides. For now it's best to download MetaTrader 5 platform & familiarize yourself with the MetaTrader 5platform inter-face.
Why MetaTrader 5 Gold Platform is Required for Opening Transactions with Brokers
MetaTrader 5 platform is the software that is used to access the market and analyze these currencies using technical analysis. There are various reasons why a trader requires to use a good 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 Server:
To place a order when trading online a trader needs to use a software that will connect to the trading servers of their broker and allow them to open & close orders. Good trading platforms will connect with ease to the online brokers' servers & allow traders to place trading orders at any time from their computer.
To analyze charts and currencies using technical analysis
To place buy or sell order one needs to first interpret the direction of a trading quote. This is why all good xauusd softwares provide technical trading tools such as charts, technical indicators & various different time frames from which one can analyze price moves using chart timeframes of their choice.
MT5 Gold Platform Setup
From the above MT5 software inter-face, the summary of all the information required by a trader is provided in this MetaTrader 5 inter-face
- Connection - connectivity to the online broker servers
- Charts - price charts that display prices
- Tool Bars - tool-bars to add tools and technical analysis indicators
- Market Watch - for displaying available financial instruments
- Data panel - provides account data & other indicator data
- Exchange rates - shows current market price of a trading symbol
- Menu bar - Shows all menu items on MT5
MT5 XAUUSD Platform Setup
