How to Use Metatrader for Trading in Gold & Futures

MetaTrader 4 is a graphical tool that allows you to buy and sell stocks or currencies from all over the world. The same power and simplicity also lets you buy and sell gold, oil and other futures stocks. Once you know how to unlock this powerful feature, you will be able to apply all your favorite indicators and perform expert analysis using this financial instrument.  In order to do this successfully you will need the Meta Trader software as well as an online trading account.  Read on to find out how you can use this software to trade in gold and futures – this tutorial should suit beginner level and can be printed out for future reference.

Download Meta Trader 4 and Sign Up for an Account

After downloading and installing Meta Trader 4 and signing up for an account, left click on “File” then left click on “Login”. Enter your account information in the space to the left by clicking the “Login” button and by typing in your username. Enter your password in the space provided as you normally would.

Now drag the mouse in the window which is titled “market surveillance” to the left of the graphics window and right click on it. Move the mouse cursor on “Symbols” and left-click.

In the dialog box that opens, left click the “plus sign” to the left of “oil”. Move the mouse over “Brent Crude Oil U.S. Dollar Vs” from the collapsible panel that opens and then left click on “View”. Left click on “Close”.

Now you will need to right click again on the “Market Watch” menu and left click on “Symbols”. Left click the plus sign to the left of “metals”. Click “XAUUSD” then click “View” and “Close” as you did in the previous step.

Left click on “File” then “New Chart.” Drag the mouse to “oil” and left click on “oil” again from the drop down menu. Repeat this procedure to open a second picture, but click on “metal” of the “New Chart” window and click “XAUUSD.”

Drag the mouse to “New Order” and left-click when you’re ready to trade in gold or a golden future. Click “Sell” or “Buy” based on your direction desired position.

Tips & Warnings When Using Meta Trader

Once you fully understand the different symbols of gold and future, you will not have to go through the process again. Consider taking advantage of a demo account which is typically is offered by your online broker before investing real money using this method.

Recommended Reading – The Wall Street Journal

One of the best ways of keeping up to date with all the news that can influence stock market prices, is to read the Wall Street Journal.  It contains up to date stock market tables as well as columns by some of the most esteemed writers on Wall Street.  To subscribe now click here for the full website which includes the latest pricing subscription deals and offers available this month.

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