Gold Platform MT5 Setup for Windows - Gold Platform MetaTrader 5 Platform
Can I Trade Gold with MT5? - Gold Platform MetaTrader 5
If you want to learn how to setup MT5 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 Platform - Get to Know Your MT5 Trading Platform.
The following example below indicates the main MT5 software inter-face. As a beginner trader trying to learn how to execute trading orders in online market, the main tool for trading the markets is the MT5 platform. This is the trading software that you will connect to your broker with and execute gold trading transactions and monitor your equity balance.
The MT5 software for trading gold is provided free by online brokers. This MetaTrader 5 software platform resembles the examples displayed below:
Learn MetaTrader 5 Platform
Main Areas of this MT5 platform just as is shown above are:
- Navigation Menus
- Tool-Bars
- Chart Window Panel
- Navigator
- MarketWatch
- Terminal
- Connection Bars
For this MetaTrader 5 Setup lesson we shall look at a brief introduction explanation for each of these:
1. MT5 Navigation Menus Get to Know Your MT5 Platform
The MT5 navigation menus are:
- File Menu
- View Menu
- Insert Menu
- Charts Menu
- Tools Menu
- Window Menu
- Help Menu
These MT5 menus are the main navigation menus which can be used to navigate MT5 platform. As a beginner trader you as a trader can begin by pressing any of these MT5 software navigation menus to familiarize yourself with the various buttons which are arranged as sub menus within these navigating menus.
These MT5 platform navigation menus will be explained & discussed on details & particulars in the next MT5 setup tutorials about navigation menus - Get to Learn Your MT5 Software.
2. MT5 Tool Bars MetaTrader 5 Setup
The MT5 tool bars are used to manipulate charts, either by setting indicators, line studies, change chart time frames and load an MT4 template from a list of saved templates on the MT5.
These MT5 tool bars will be discussed on other MT5 set-up lessons which will outline each button on this tool bar & how to add & customize these MT5 toolbars - Gold MT5 Platform Software Setup Guide Tutorial.
3. MetaTrader 5 Chart Panel Window MT5 Setup
MetaTrader 5 Chart Panel Window is the main area where charts are portrayed & one can analyze & interpret the trend direction of the trading chart whether upward/downward, place indicators for trading analysis & even place trading orders from these charts - Get to Know Your MT5 Platform.
5. MT5 Navigator MT5 Setup
MetaTrader 5 Navigator will contain data about accounts, whether practice trade account or live account, this panel window will also have a list of all the MetaTrader 5 indicators & also EAs and scripts.
A trader can select which MT5 account to login by expanding the Trading Accounts menu, choose a chart technical indicator by expanding the MetaTrader 5 indicator menu or select an Automated EA by expanding the MT5 Expert-Advisor menu - Get to Know Your MT5 Software.
5. MT5 MarketWatch MT5 Setup
MT5 MarketWatch is used to display streaming quotes for quotes. This can listing as many symbols provided by your broker or a few selected by a gold trader. To save internet band-width, rightclick inside the market-watch panel panel and choose "Hide All", so as to hide the currencies that you're not transacting and save on internet band width.
6. MetaTrader 5 Terminal MetaTrader 5 Setup
This is window that's like the bank trading account trade area for your trade transactions, on this panel you as a trader can view your equity balance, profit & losses statement, equity, margin used & also generate a copy of all your trade transactions history.
This will also list all open trade positions and calculate all the profit and loss on real time as the currencies move up/down.
7. MetaTrader 5 Connection Bar MetaTrader 5 Setup
Red bars are for no connection, green bars show that there's connection to the servers and orders can be set. These MT5 connection bars should always be in green when a trader is signed in and logged into their practice trading account or real account.
These main areas form the MT5 Platform Setup course and will be the main levels to be covered in detail in the next learn MetaTrader 5 platform tutorials. For now it's best to download MT5 platform & accustom yourself with the MT5 platform inter-face.
Why MT5 Gold Platform is Required for Opening and Placing Trade Positions with Brokers
MT5 platform software is the software that is used to access the market and interpret these currencies using technical analysis. There are different grounds why a gold trader requires to use a good platform. A good gold software can determine if a as a gold trader you earn profit or not.
So why does a xauusd trader need a good software:
To connect to the trading Server:
To open a trade order when online trading a trader needs to use a software that will connect to the trading servers of their broker & allow them to open and close orders. Good trading softwares will connect with ease to the brokers' servers and allow traders to place and open orders at any time from their computer.
To analyze & interpret 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 tools like charts, indicators and various different time-frames from which one can interpret and analyze the price moves using time frames of their choice.
MT5 Gold Software Software Setup
From the above MT5 software inter-face, the summary of all the information required by a trader is provided in this MT5 inter-face
- Connection - connection to the online broker servers
- Charts - price charts which display the market prices
- Tool-Bars - tool bars to add tools and technical analysis indicators
- Market Watch - for displaying available trading instruments
- Data panel - provides trading account information & other indicator data
- Exchange rates - displays ruling market price of a symbol
- Menu bar - Shows all menu items on the MT5 Platform
MT5 XAUUSD Software Platform Setup
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