Gold Trading Platform - MetaTrader 4 Trading Software
The most popular Gold Trading Software is the MetaTrader 4. MetaTrader 4 is also the most popular software for currency Forex trading, stock indices trading, CFDs trading and Oil trading.
MetaTrader 4 software is provided for free by online Gold trading and Forex Trading Brokers. This Gold trading software or Gold trading platform as it is commonly known provides traders with ease access to streaming Gold price quotes from the broker's servers to the trader's computer. Traders can connect to the online Gold trading market through this trading software platform that is provided to them by their online broker.
This Gold trading software plots the prices of Gold in the form of charts and graphs commonly known as Gold trading charts and these charts will represent the movement of Gold prices in an easy format that is easy to analyze so as to determine the general trend direction that Gold prices are moving in whether the direction is up or down.
The MetaTrader 4 platform will also provide traders with many technical analysis tools such as technical indicators that they can use to analyze the movement of the Gold prices.
This Gold trading platform plots and display Gold price charts on the computer screen; these charts show the current buy and sell price of Gold metal.
This Gold trading platform also helps traders to keep track of the funds or what is known as account equity balance in online trading. The platform will have a trade transaction window that will show the Account balance that the trader has deposited that is available for trading with. This window will also show all the trades that the trader has opened and a trader can close their trades from this MetaTrader 4 transactions window.
From the Gold trading charts traders can also open and close trades directly from the trading charts.
MetaTrader 4 Platform - Online Gold Trading Platform
The easiest Gold trading platform to learn trading XAUUSD with is the MetaTrader 4 platform software - it is also the easiest to use when trading currencies, stock indices, Oil and CFDs financial instruments online.
Commonly known as MetaTrader 4 or just MT4, this software can be downloaded free of charge from the online Gold trading broker that provides this trading software to beginner Gold traders as well as the experienced Gold traders trading the Live Gold trading market.
As a beginner, you will have to start with a demo account which is a Gold trading account for practice trading that uses virtual funds meaning that a trader does not have to risk their own money when they start learning how to trade the Gold metal - XAUUSD. After a trader has learned how to trade with the MetaTrader 4 software using this demo practice account a trader will then open the Real Gold Trading Account commonly known as Live Gold Trading Account then deposit their money as their trading capital and start trading the live Gold trading market for profit.
Learning MetaTrader 4 Gold Trading Platform
If you are new to Gold trading platforms all you need to remember is that all computer software uses the same coding rules, coding rules are followed by all programmers, one of the rules used is familiarity.
So in all software take for example your web browser, there is file, edit, view, history, tools and help at the top left side of your browser.
If you compare this with your Gold trading platform, if you are using MetaTrader 4 commonly referred to as MT4 there is file, view, insert, charts, tools and help.
MetaTrader 4 Platform Navigation Menu
In the top left corner of the MT4 platform software, Under "File" menu you can open charts for the currency pair you want or when it comes to trading Gold - you can open the trading chart for XAUUSD or Gold depending on how it will be marked on your trading software, from this file menu you can also open an account, or login to an account and so on.
Under File Menu
Use the "New Chart" button to open a new Gold chart
Use the "Open an Account" button to open a practice demo Gold demo account
Use the "Login" button to login to an account
How to Open an Account in MetaTrader 4 Gold Trade Platform
Under View Menu
Under view menu you can open the navigator, the navigator is used to view your trading account number details, it is also used to view indicators as well as available Automated Expert Advisors that are used for automated trading. To use any of the indicators just double click on the one you want and click okay. The indicator will automatically be placed on the Gold price chart.
Still under view you can click "terminal" to view open trades. This is the MetaTrader 4 transaction window where a trader can access information about their trading account balance as well as information about their open trades.
Opening a Gold Trade
To open a XAUUSD trade, right click inside the chart, you can open the XAUUSD Gold trading chart from the File menu, New Chart Option. Once you open the Gold trading chart click within the trading chart and select new order and then you can choose to buy or sell Gold from the new trade order window that will pop up.
If anything else gets within this trading software complicated just click on the "help button" and look for the solution it in the 'Help Topics'.
Gold MetaTrader 4 trading platform can be downloaded from the various online broker websites.
The MetaTrader 4 is so easy to learn as a beginner Gold trader can learn the platform within minutes, this is why the MetaTrader 4 is considered as one of the best Gold trading platforms if not the best Gold platform to practice and train with.