Trade Gold Trading

New Gold Trader Wanting to Start Gold Trading

Let's say you're a new trader who wants to start gold but you don't know what is gold trading or even how to trade. Well this tutorial will get you begun illustrating what you need to do before beginning trading and tell you one or 2 things about how to gold trade.

first thing you need to know when it comes to how to trade are:

  1. Demo Trade Account
  2. Trading Software
  3. Setting Up Trading Guides

By methodically completing these three preceding actions, the process of learning how to trade becomes significantly easier for you as a novice.

Demo Practice Trade Account

The first time as a trader you start learning about gold, you'll be so confused as a gold trader that you won't even know where to begin or what to start with: even getting a practice xauusd/gold account and setting up this gold practice account will be confusing.

So to setup a practice gold account you will need to just follow these steps:

Step 1: Choose a reliable gold broker: online brokers provide demo gold trading accounts.

Step 2: Visit this broker and find the "Open demo account" or "Open Gold Practice Account" link there.

Step 3: After clicking on this type of link, you'll be directed to a page where the broker will request your details to create a demo account. These details typically include your name, contact number, email address, and country of residence.

Step 4: After you fill in your details on the form, hit the sign-up button. Once registration ends, your gold broker will send a username and password for the account. They will also share a link to download the software. Click it to get the program.

XAU/USD Software

For this step you'll then install the trading platform you have just downloaded.

To install xauusd software

  1. Go to download folder(to navigate to download folder, maximize the firefox web-browser panel window & click keyboard short cut key CTRL+J, this will bring a popup window of the download folder)
  2. Double Click the setup package of the platform you have just downloaded.
  3. Follow the instruction by clicking "accept" and then click "next", "next"…. Until you get to "finish" button, then click finish button key and your setup is complete.

To Open the Gold trade platform

  1. Go to desktop & look for the short cut Icon for the Gold platform, it should have the name or logo of the broker. Or you can go to "Start menu" bottom left corner of your computer & from the programs menu look for the name of the trading platform.
  2. Once you Open the trading software, then you need to login to your software:
  3. To Log in
  4. Navigate to "File" at the top left corner of the software
  5. A drop down menu will appear, from the choice/option look for "login" click it
  6. A Username & Password Sign in panel pops up, Input your password and username you got when you signed up with your xauusd broker.
  7. If you forget your username & password, open your email account that you signed up with and you will have received an EMail from the broker where you can refer the user name and password authorization logon details.
  8. After you've logged in to your trading account, now you are ready to learn how to trade & how to place trades using these gold software.

How Do I Trade with the Software

Although this might appear intricate to a novice trader, let us examine a few key strategies for engaging in trades using this specialized gold trading software.

The first window you'll see is market watch - it's pretty straightforward. It shows xauusd gold prices you'll be trading. Want to see a chart? Just right-click any xauusd gold price feed (or any MT4 symbol), pick ‘open chart,' and you're set.

The Data window will show information about your xauusd account and data from indicators, just like you see in the picture above.

Use the terminal to view your account balance and ongoing trades. To expand this window, hover your mouse until the cursor changes. Click, hold down the mouse button, and drag upwards to enlarge.

Next are the interface menu bars, such as File, View, and so forth. As an illustration, should you, the trader, wish to conceal the market-watch window, navigate to "View" and deselect the market-watch window option: this action will cause the market-watch panel to vanish. To restore its visibility, return to "View" and select the market-watch panel option once more, causing it to reappear. Every function on this menu is self-explanatory: for instance, the charts button is dedicated to manipulating open charts, changing timeframes, and generally controlling all chart aspects.

To access the complete instructional material for Gold within the MT4 software, review the MetaTrader 4 Guide and the section on Gold-Related Softwares.

You now know how to trade on the platform. Right-click the chart to place a buy or sell order. Choose trading from the menu, then open the new trade panel.

If you're brand new and not sure how traders buy or sell, or how market orders work, it's worth going through a few beginner gold trading tutorials. Since I can't fit all the how-to steps here, check out these guides:

Putting Up Tutorials

1. Start gold trading as a beginner - online tutorial.

Section 3: Online Guidance and Education for Gold Trading

4. Best Gold trade Tutorials & trade Training Made Easy,

9.Benefits of Spot Gold trade

Twelve: The Concepts of Trading Long and Trading Short Positions

13.Best Gold trade Platforms/ Best Gold trade Software

14.Live Gold Account Types

.Engaging in Practice Trading with Demo Accounts

16.How to Trade Gold/ trade How to Trade Gold trade

More Topics & Tutorials:

Gold Broker