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How Market Trading Software Works?

Advanced Platform - How to Analyze The Market with XAUUSD Software

The following screen-shot below shows the main MT4 software interface. As a beginner trader 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 which you will connect to your broker with and execute xauusd trade transactions and monitor your account balance from this MT4 platform.

The MT4 software is provided for free through the different XAUUSD broker sites. This MT4 software looks like the examples below:

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Main Areas of this MT4 platform as shown above are:

  1. MT4 Navigation Menus
  2. ToolBars
  3. MT4 Chart Window
  4. MetaTrader 4 Navigator Window
  5. MetaTrader 4 MarketWatch Window
  6. MetaTrader 4 Terminal
  7. MT4 Connection Bars

For this MetaTrader 4 guide we shall look at a brief intro for each of these learn xauusd MetaTrader 4:

1. Navigation Menus

The MetaTrader 4 navigating menus are:

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

These are the main MT4 navigation menus which can be used to navigate the MetaTrader 4. As a beginner trader you can begin by clicking any of these MT4 navigation menus to accustom yourself with different MetaTrader 4 buttons that are arranged as MetaTrader 4 sub menus within these MetaTrader 4 navigation menus.

These Meta Trader 4 navigation menus will be explained in details in the next MetaTrader 4 lessons about navigation menus.

2. Tool Bars

The MetaTrader 4 toolbars are used to manipulate MT4 charts, either by placing Meta Trader 4 technical indicators, MetaTrader 4 line studies, change MetaTrader 4 chart timeframes and load MetaTrader 4 template from a list of saved MT4 templates.

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

3. Chart Window

This MetaTrader 4 chart window is the main area where MetaTrader 4 charts are displayed and a gold trader can interpret the price trend direction of a MetaTrader 4 chart whether up or down, place MetaTrader 4 chart trading indicators for trading analysis & even place orders from these MT4 charts.

4. Navigator

MT4 Navigator will contain info about MT4 accounts, whether practice or real, this MT4 window will also have a list of all the MT4 trading indicators as well as MetaTrader 4 EAs & scripts.

A trader can choose which MetaTrader 4 trading account to sign in by expanding the Trading Accounts menu, select an Meta Trader 4 technical indicator by expanding the Meta Trader 4 technical indicator menu or select an Meta Trader 4 Expert-Advisor by expanding the Expert-Advisor menu.

5. MarketWatch

MT4 Market watch window panel is used to show streaming trading quotes for MT4 trading quotes. This can list as many trading quotes which are provided by your Meta Trader 4 XAUUSD broker or a couple of chosen by a xauusd trader. To save internet bandwidth, rightclick inside the MT4 market watch window and select "Hide All", to hide the currencies that you're not transacting on this MT4 software and save on inter-net bandwidth.

6. Terminal

This is MT4 panel that's like the bank trading account trade area for your MT4 trades, on this MetaTrader 4 panel window you can view your account balance, profit & losses statement, equity, margin used & also to retrieve a copy of all your Meta Trader 4 trades history.

This MetaTrader 4 panel also will list all open xauusd trade transactions & calculate all the profit & loss in realtime as a xauusd currencies move up or down.

7. Connectivity Bar

MT4 connection bars - Red bars are for no connection, green bars show that there is connection to the servers & MetaTrader 4 trading orders can be set. These MT4 connection bars should always be green when one logged into their MetaTrader 4 demo trade account or MT4 live account.

These MetaTrader 4 software main levels form the MetaTrader 4 platform interface and will be the main levels to be covered in detail in the next learn MetaTrader 4 tutorials. For now it is best to download MT4 platform & accustom yourself with the MT4 platform inter-face.

Why Gold Software is Required for Placing Trading Transactions with XAUUSD Brokers

XAUUSD platform is the trading software which is used to access the market and analyze these market movements using charts & technical analysis tools. There are different reasons why one requires to use a good software. A good xauusd software can ascertain if a as a trader you make a profit or not.

So why does a gold trader need a good Platform:

To connect to the XAUUSD Broker Server:

To place a trade order one needs to use a software which will connect to the trading servers of their broker and this will allow them to open and close xauusd trade orders. Good trading platforms will connect with ease to the brokers' servers and allow traders to place xauusd orders at any time from computer.

To analyze xauusd charts and currencies using trading analysis tools

To place a buy or sell xauusd order one needs to first analyze the direction of a symbol using charts. This is why all good platforms provide xauusd trading technical tools such as price charts, indicators & various different time frames from which one-can analyze xauusd price moves using the time-frames of their choice.

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From the above xauusd platform work-space, the summary of all information required by a trader is provided on this MetaTrader 4 software inter-face

  • Connection - connection to the broker servers
  • Charts - price graphs that illustrate xauusd prices
  • ToolBars - tool-bars to add tools and trading analysis trading indicators on charts
  • Market Watch - for displaying available instruments in MT4
  • Data panel - provides MetaTrader 4 account data & other trading indicator data
  • Exchange rates - displays the ruling price of a trading symbol
  • Menu bar - Shows all menu items in MT4

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