Best Trading Software XAUUSD
The Best Trading Platform Gold is the MT4 software. This is one of the most common gold software that is used almost by every other trader as well as almost every online xauusd trading broker.
In this guide we shall explain the MetaTrader 4 Interface so that beginners wanting to begin learning this Best Platform Gold, can then begin from this guide.
Best Trading Platform XAUUSD - MT4 Workspace
Form the above screen shot of the this trading platform there are several tool-bars as well as chart window.
You can download this Best Trading Platform Gold from your broker's website. Now after you download it, then you will need to learn one or two things about this gold trading platform:
The first thing is how to install this gold trading software after you download. For example if you download the MT4 platform, you will need to go to a broker first, register for a demo trading account then after you sign up for a demo xauusd account you will be provided with a link where to download MetaTrader 4 Gold Trading Platform.
Now once you download this gold platform, assuming you do not know much about Desktop computers, Open your Browser >>> Navigate to tools at the top-left corner of your webbrowser next to 'file', 'edit', 'view' and click on tools, choose download folder place, (short cut: once you open your browser click CTRL+J or CTRL+Y), a download pop up will pop-up with links to downloaded items. Choose the MT4 platform that you've just downloaded.
Best Trading Software XAUUSD
To install this software after you've downloaded, open the download from where you downloaded, from there an setup wizard pops up and all you have to do is to follow the setup instructions. After setup the platform will run automatically just like any other software. Read tutorial How to install MetaTrader 4 platform. This platform is easy to install and this is another reason why this platform is the Best Platform Gold.
You can open MetaTrader 4 from the start menu>>> Programs or from desktop short-cut that appears as a desktop icon marked MT4 after set up.
Demo Gold Account Signup & Log-in
To open an account in MT4 just click on 'file' & then on open an account, to login to an account just click on 'file' at the top right corner & click login from the drop-down menu that pops up.
Once yousign in to the MT4 platform you will get access to charts & other technical analysis tools such as technical indicators that you will then use to place trades within the xauusd market while connected to your gold broker's servers.
Gold Trading Platform Menu Bar & Tool-Bars
Menu Bar in MetaTrader 4 for Navigating within the Software - Best gold trading software
Menu bar is used to operate and navigate this gold platform from one single panel. From this panel you can set how to view toolbars, chart, data window & even use the file tab to open a xauusd trading account - and also login to your account. This menu bar makes this platform easy to operate & this is also why this is Best Trading Platform XAUUSD for beginner traders.
Form the menu bar you can click on view tab and choose chart tool-bars like in the above pictured screenshot, these menu bars can be used to set up charts, indicators, time frames, & others things like drawing gold trend lines and Fibonacci retracement levels and Fibonacci expansion levels. To learn how to customize this trading platform navigate to this MT4 Gold Tutorial Section.
Now that we have looked at the tool-bar and menu bar, we shall look at the main work-space interface of the MT4 platform.
Best Trading Platform XAUUSD - MT4 Best Trading Platform Gold
Market Watch window panel - This window is used to show a stream of the exchange rates that's obtained from your xauusd trading broker. In this market watch window panel you can right click anywhere on this panel to choose show all trading financial instruments or hide the ones you're not interested in & save some bandwidth at same time. No need to have prices for 50 trading instruments if you are only interested in 4 trading instruments. This make this software easy to use with any internet connectivity another reason why this is the Best Trading Platform Gold.
Data Window Panel - Used to setup XAUUSD Indicators, Expert Advisors & scripts, you can click on any of this menu sub items and expand/collapse the indicators or Expert Advisors used for automated gold trading.
Gold Charts Panel - This is where the price moves will be plotted.
Gold Charts Tab - Navigation from one trading instrument to another is easy, just flip through the charts tab as displayed above.
Terminal Window Panel - This panel is used to display a statement of your trades, profits and loses that you have made in your live xauusd trading account or demo xauusd trading account. To enlarge this window panel & view the open trades, just hover the mouse on terminal panel tool bar until the cursor changes, click and hold down the mouse button & then move cursor upward.
Connection bars - These are used to explain the connection to internet, red bars mean no net connectivity, green bars explain there is internet 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 upwards or downwards.
Why MT4 is The Best Trading Platform XAUUSD
In the online gold market there are many gold trading platforms available around the internet. But among the top gold trading platforms the Best Trading Platform Gold is the MT4 Gold Platform, it is the best Gold software because of the following reasons:
Low Bandwidth Connection Requirement
Not everyone can afford the best internet connection, the T1, the satellite, ADSL or Fiber Optic internet connection: furthermore, these are not freely available to some residential areas & might be limited to office buildings. This is why it's best to select a gold software that requires the minimum band-width, MetaTrader 4 platform. Even with the best connection, sometimes the connection might not be available and you may need to use an alternative connectivity like the dial up or modem. MT4 software is the least expensive if you're on a modem. To even reduce further the inter-net bandwidth usage navigate to market watch (Short cut Keys press CTRL+M), Right-Click on any instrument, Choose 'Hide all', now the trading platform will only stream the xauusd price quotes for pairs you only need & conserve your inter net bandwidth even further. Especially when using a phone or iPad or a Tablet where you're paying for phone credit this can save your internet credit. This is one of the reason why MT4 is considered as one of the Best Gold Software online.
The easier it is to connect the easier it is open & close trades on time.
Provided by all Gold Brokers
Another reason why this gold trading platform is considered as one of the Best Trading Platform Gold is because MT4 is liked by most traders all brokers provide it. Once as a investor learns the MT4 platform there is no need to re-learn when you switch to another xauusd trading broker. You can still use same MT4 software of the new gold broker without the need to learn a new gold trading platform all over again.
Easy Technical Analysis
The other thingwhich makes this the Best Platform Gold is the ease with which you can set up the technical analysis technical indicators on the xauusd charts. Even those using various web traders will do their technical analysis in MT4 xauusd chart and then place their gold orders on their web trader.
Technical analysis traders can also setup custom technical indicators on this gold trading software, making it easier to add more technical analysis tools onto this platform. Others also install automated Expert-Advisors on this gold trading platform so as to trade automatically with these programs referred to as automated EA Gold Robots.
Best Gold Charts
The MetaTrader 4 has the Best Trading Platform Gold charts representations available and implements many chart time frames from which a can select.
Simplicity
Overall the simplicity of this software & the fact that any investor can learn how to use MetaTrader 4 within one hour makes this the Best Trading Platform Gold for new and experienced xauusd traders.
