Gold Software
The best gold trading trusted trading platform software is the MT4 platform. This gold trading software is one of the most common gold software which is used by almost every other trader as well as by almost every online broker.
In this learn MT4 platform tutorial we shall explain the MetaTrader 4 Interface so that beginner traders wanting to start learning this Gold charting software, then can start from this lesson.
Best Online Platform - MT4 Workspace - Gold Trusted Platforms
From above screenshot of the this gold platform MT4 software there are several tool bars as well as chart window.
You can download this online trading platform from your online broker's website. Now after you download xauusd platform, then you will need to learn one or two things about this gold trading software:
First thing is how to setup this gold trading software after you download. For example if you download the MetaTrader 4 platform, you will need to go to a broker first, register for a trading practice account then after you register for a demo trading account you'll be provided with a link where to download MT4 software.
Once you download this gold platform, guessing you don't know much about Desktop computers, Launch your Browser >>> Go to tools on the top left corner of your web browser next to the "file", "edit", "view" & click on tools, select download file place, (shortcut: once you open your browser click CTRL+J or CTRL+Y), a download pop up will then appear with links to downloaded items. Choose the trading platform which you have just downloaded.
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To set-up this platform after you've downloaded, launch the download from where you downloaded, from there an installation pop-up wizard pops up & all you have to do is to follow the setup instructions. After setup the trading software will run automatically just like any other software. Read guide How to install MT4 platform.
You can open MetaTrader 4 software from the start menu>>> Programs or from the desktop short cut that appears as a desktop icon marked MT4 after setup.
Demo Account Opening & Login
To open an account in MetaTrader 4 just click on "file" and then on open an account, to sign in to a trading account just press on "file" at the top right corner and click login from the drop-down menu which pops.
Once youlogin to the trading software you will get access to charts and other analysis tools such as indicators that you will then use to place trades within the market while linked to your broker's servers.
XAUUSD Platform Menu Bar and ToolBars
Menu Bar in MetaTrader 4 for Navigating within the Software
Menu bar is used to operate and navigate this gold trading software from one panel. From this panel you can set how to view tool-bars, chart, data panel and even use the file tab to open a account - and also login to your software account.
From the menu bar you can click on view tab & choose toolbars like in the above illustrated screenshot image, these menu bars can be used to set up software charts, indicators, time frames, and others things like drawing trend lines and Fib retracement areas and Fibonacci extensions. To learn how to customize this gold platform software navigate to this MT4 Software Lesson Section.
Now that we have looked at the tool bar and menu bar, we will look at the main work-space interface of the MetaTrader 4 platform.
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Market Watch window - This window is used to show a stream of the exchange rates that is obtained from your trading broker. In this market watch panel you can right-click anywhere on this panel to select show all trading financial instruments or hide the ones you're not interested in and save some band-width at the same time. No need to have prices for 50 trading instruments if you are only interested in a few trading instruments.
Data Window - Used to set-up Trading Indicators, Expert Advisors and scripts, you can click on any of this menu sub items & expand/collapse the technical indicators or EAs used for automated trading.
Charts Panel - This is where the price moves will be drawn.
Charts Tab - Navigation from one financial instrument to another is easy, just flip through the charts tab as shown above.
Terminal - This window panel is used to display a statement of your trades, profits and loses that you have made in your live xauusd account or demo gold trading account. To enlarge this panel & view the open trade transactions, just hover mouse on the terminal panel tool-bar until the cursor changes, click and hold down the mouse button & then move cursor upwards.
Connection bars - These are used to explain connection to the internet, red bars mean no online internet connection, green bars explain there net connectivity.
Exchange Rates Graph - this shows the exchange rates for gold that you are trading so as to explain if the exchange rate is going upward or downward.
Why MT4 is Best Trading Software
In the online trading market there are many platforms available on the internet. But among the top softwares best trading software is MetaTrader 4 platform, it is the best XAUUSD software because of following reasons:
Low Bandwidth Internet Connectivity Requirement
Not everyone can afford the best internet connection, the T1, the satellite, ADSL or Fiber internet connection: furthermore, these aren't readily available to some residential levels and might be limited to office buildings. This is why it's best to choose a platform which requires the minimum bandwidth, the MT4 software. Even with the best connection, sometimes the connection may not be available & you may need to use an alternative connection like the modem. MetaTrader 4 platform is the least expensive if you're on a modem. To even reduce further the inter-net band-width usage go to marketwatch (Short Cut press CTRL+M), RightClick on any trading instrument, Select "Hide all", now the platform only will stream the price quotes for the pairs you only need & conserve your band width even further. Especially when using a phone or i Pad or a Tablet where you're paying for phone credit data this can save your credit. This is one of the reason why MetaTrader 4 platform is considered as one of the best platforms online.
The easier it is to connect the easier it is open and close trades on time.
Provided by all Online Brokers
Another reason why this Gold software is regarded as one of the best software is because MetaTrader 4 is liked by most traders all online brokers provide it. Once as a investor learns the MT4 platform there is no need to re-learn when you switch to another xauusd broker. You can still use the same MT4 of the new online broker without need to learn a new software all over again.
Easy Analysis
The other thing which makes this the best trading platform is ease with which you can set up the trading analysis trading indicators on the trading charts. Even those using various web traders will do their analysis on MetaTrader 4 platform and then place their orders on their webtrader.
Technical traders can also install custom technical indicators on this software, making it easier to add more trading analysis tools onto this gold platform. Others also install EAs on this gold trading software so as to trade automatically with these programs referred to as EA Bots.
Best Charts
The MetaTrader 4 has the best charts representations available and implements many chart timeframes from which a investor can choose.
Simplicity
Overall the simplicity of this gold platform software & the fact that any investor can learn how to use MetaTrader 4 platform within one hour makes this the best software for new and experienced traders.
According to trading softwaresoftware reviews of the top softwares MetaTrader 4 is the best xauusd trading software - Gold Trusted Softwares MT4 Platforms. Hence, traders looking for what is the best gold software can start trading with the MT4 software - Gold Trusted Platforms - as it's the best platform software & it's very easy to learn.
Study More Courses:
- How to Add MACD Indicator on Gold Chart in MT4 Software
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- Placing Gann Lines on Gold Charts in MT4 Software
- XAUUSD Introduction
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- How Can I Trade MetaTrader 4 Downwards Gold Trend Line in MT4 Software?
