How to Use Metatrader to Trade Gold & Futures
Meta Trader 4 is a powerful charting application allowing you to buy and sell currencies from all around the world. The same power and simplicity that allow this also allow you to buy and sell gold, oil and other futures. Once you know how to unlock this powerful feature you will be able to apply all of your favorite indicators and analysis to these special financial instruments.
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Instructions
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1
After downloading and installing Meta Trader 4 and establishing an account, left-click on "File" and then left-click on "Login." Enter your account information in the space provided by left clicking within the "login" window and typing your user name. Enter your password in the space provided.
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2
Drag the mouse cursor into the Market Watch window located to the left of the chart window and right-click. Move the mouse cursor over "Symbols" and left-click.
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3
In the dialog box that opens, left-click on the plus sign to the left of "Oil." Drag the mouse over "Oil-Brent Crude Vs US Dollar" from the collapsible panel that opens up and then left-click on "Show." Left-click on "Close."
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4
Right-click again on the "Market Watch" menu and left-click on "Symbols." Left-click on the plus sign to the left of "Metals." Click on "XAUUSD" and then click on "Show" and "Close" as you did in the previous step.
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5
Left-click on "File" and then "New Chart." Drag the mouse to "Oil" and left-click on "Oil" again from the drop-down menu. Repeat this process to open a second chart but click on "Metals" from the "New Chart" window and click on "XAUUSD."
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Drag the mouse to "New Order" and left-click when ready to make a trade on either gold or a gold future. Click on "Sell" or "Buy" depending on your desired position direction.
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Tips & Warnings
Once you have exposed the gold and future symbols you will not have to go through the process again. Consider taking advantage of the demo account that is offered by your broker before investing real money in new financial instruments.
References
Resources
- Photo Credit gold coins image by drx from Fotolia.com
