Trade Gold Trading

Gold MT4 Dashboard

The following screen-shot below shows the main MT4 platform Dashboard. As a beginner trader trying to learn how to execute trading orders in the online trading market, the main tool for trading the market is the MetaTrader 4 platform software. This MetaTrader 4 software is the trading software that you'll connect to your online broker with and execute trade transactions & monitor your trading account balance from the MetaTrader 4 software.

The MT4 software is offered for free through the different broker sites. This MT4 looks like the trading example shown & explained below:

MT4 Gold Dashboard - Introduction to MT4 Gold Dashboard - MetaQuotes Software MT4 Gold Dashboard

Main Areas of this MetaTrader 4 as illustrated above are:

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

For this MT4 platform tutorial we shall look at a brief introduction for each of these learn gold MT4 software:

1. Navigation Menus

The MT4 navigating menus are:

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

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

These MetaTrader 4 navigation menus will be explained in details in the next MT4 platform guides about navigation menus.

2. Tool Bars

The MT4 tool bars are used to manipulate MT4 gold charts, either by placing MT4 indicators, MetaTrader 4 line studies, change MT4 time frame and load MT4 template from a list of saved MT4 templates.

These MT4 toolbars will be discussed on other MetaTrader 4 platform guides which will outline each MT4 button on this MT4 tool-bar & how to add & customize these MT4 tool-bars.

3. Chart Window

This MT4 gold chart window is the main area where MT4 charts are portrayed & one can analyze the trend direction of a MT4 gold chart whether upward or downward, place MT4 gold chart indicators for technical 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 MT4 Expert Advisors & scripts.

A trader can select which MetaTrader 4 account to login by expanding the Trading Accounts menu, choose a MT4 indicator by expanding the MT4 indicator menu or choose a MT4 Expert Advisor by expanding the Expert Advisor menu.

5. Market Watch

MT4 Market watch window panel is used to show streaming quotes for MT4 gold trading instruments. This can list as many quotes that are provided by your MT4 gold broker or a couple of chosen by a xauusd trader. To save internet band-width, rightclick inside the MT4 marketwatch window and select 'Hide All', to hide the MT4 symbols that you aren't transacting on this MT4 platform and save on internet band-width.

6. Terminal

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

This MetaTrader 4 window will also list all open gold trade transactions and calculate all the profit and loss in realtime as the prices move in an upward or downward direction.

7. Connectivity Bar

MetaTrader 4 connection bars - Red bars are for no connection, green bars show that there is connectivity to the servers & MT4 gold trade orders can be set. These MT4 connection bars should always be green when one logged in to their MetaTrader 4 practice account or MT4 real account.

These MetaTrader 4 software main levels form the MetaTrader 4 platform Dashboard and will be the main levels to be covered in detail in the next learn MT4 platform courses. For now it is best to download MT4 platform and accustom yourself with the MetaTrader 4 software Dashboard.

Why Software is Required for Placing XAUUSD Trades with Online Brokers

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

So why does a xauusd trader need a good Platform:

To connect to the Online Broker Server:

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

To analyze charts using trading analysis tools

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

MT4 Dashboard - Introduction to MT4 Dashboard

From the above platform Dashboard, the summary of all information required by a trader is provided on this MetaTrader 4 Dashboard

  • Connection - connection to the broker servers
  • Charts - price graphs which show prices
  • Tool-Bars - tool-bars to add tools & trading analysis trading indicators on charts
  • Market Watch - for displaying available instruments in MetaTrader 4
  • Data window - provides MT4 account data & other trading indicator data
  • Exchange rates - displays the ruling price
  • Menu bar - Shows all menu items in MT4 platform

Study More Courses and Lessons:

Forex Traders Seminar Gala

Forex Traders Seminar

Gold Broker