MetaTrader 4 Introduction Tutorial

The following screen-shot below shows the main MT4 interface showing what is a MT4 platform. As a beginner 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 software software. This How to Use MetaTrader 4 Review Tutorial for XAUUSD Trading Beginners will explain how you can use this MT4 software to connect to your MT4 xauusd broker and execute xauusd transactions and monitor your xauusd account balance from this MetaTrader 4 platform that you will download from online MetaTrader 4 brokers.

The MT4 XAUUSD Software is provided for free through the various xauusd broker web sites. This xauusd software looks like the xauusd example shown below:

What's MT4 platform? - MT4 Introduction PDF - Introduction to MT4 Interface - MT4 Introduction Tutorial

Main Areas of this MT4 software as illustrated above are:

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

For this MT4 Introduction Lesson we shall look at a brief introduction for each of these:

1. Navigation Menus

The navigation menus are:

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

These are main navigation menus that can be used to navigate MetaTrader 4 platform. As a beginner trader you can start by just clicking any of these navigation menus to familiarize yourself with the various buttons that are arranged as sub menus within these navigation menus on the MT4 software.

These MetaTrader 4 navigation menus will be discussed in details in the next MT4 Introduction Tutorials about navigation menus.

2. Tool-Bars

The MT4 tool bars are used to manipulate xauusd charts, either by placing xauusd chart indicators, line studies, change xauusd chart timeframes and load a xauusd MT4 template from a list of saved chart templates.

These MT4 tool bars will be discussed on other MetaTrader 4 Introduction Tutorials which will outline each button on this MT4 tool bar and explain how to add MT4 xauusd chart tool bars and how to customize MT4 xauusd chart tool bars.

3. Chart Panel

This is the main area where xauusd charts are displayed & a trader can analyze the xauusd trend direction of a xauusd chart whether up or down, place xauusd chart indicators for technical analysis & even place xauusd orders from these gold price charts.

4. Navigator

Navigator window panel will contain data about xauusd accounts, whether practice xauusd account or real account, this window will also have a list of all MT4 indicators as well as Expert-Advisors and scripts.

A trader can select which xauusd account to login by expanding the Accounts menu, choose an indicator by expanding the xauusd indicator menu or choose an Expert Advisor by expanding the xauusd Expert Advisor menu.

5. Market Watch

Market watch is used to show streaming xauusd quotes for xauusd. This can list as many xauusd quotes provided by your xauusd broker or a few selected by a trader on the MT4 platform. To save internet bandwidth, right click inside the xauusd market watch window and choose "Hide All", so as to hide the instruments that you're not trading and save on internet band width.

6. Terminal

This is window that's like the bank account trade area for your xauusd trade transactions, on this MT4 window you can view your xauusd account balance, profit & losses statement, equity, margin used also retrieve a copy of all your xauusd trade transactions history.

This will also list all open xauusd trade transactions & calculate all the profit & loss in real-time as the gold prices move in an upwards or downward direction.

7. Connection Bar

MT4 connection bars on MT4 status bar - Red bars are for no connection, green bars show that there is connection to the broker servers & xauusd trade orders can be placed. These MT4 connection bars should always be green when one logged into their demo xauusd account or live gold trading account.

These main areas form the MetaTrader 4 interface and will be the main areas to be covered in detail in the next MetaTrader 4 Introduction XAUUSD Guides. For now it's best to download MetaTrader 4 platform & familiarize yourself with the MT4 platform interface.

Why XAUUSD Platform is Required for Placing XAUUSD Trade Transactions with Brokers

Xauusd trading software is software that is used to access the xauusd market & analyze these gold price movements using xauusd charts and technical analysis tools. There are various reasons why a trader requires to use a good xauusd platform. A good xauusd platform can determine if a as a trader you make a profit or not when trading using the platform.

So why does a trader need a good XAUUSD platform:

To connect to the XAUUSD Broker Trading Server:

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

To analyze xauusd charts using charts and gold technical analysis trading tools

To place a buy or sell xauusd order a trader needs to first analyze the direction of a xauusd. This is why all good xauusd platforms provide gold price charts and xauusd technical analysis tools such as, xauusd indicators and various different chart timeframes from which one-can analyze gold price moves using the gold chart timeframes of their choice.

XAUUSD Trading MetaTrader 4 Software Setup

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

• Connection - connection to the broker servers
• Charts - price graphs which display gold prices movements
• Toolbars - chart tool-bars to add tools & technical analysis technical indicators
• Market Watch - for displaying available financial instruments
• Data window - provides xauusd account information & other indicator data
• Exchange rates - shows current market gold price on a xauusd chart
• Menu bar - Shows all menu items in the MetaTrader 4 software