How to Trade Gold on MT4: Step-by-Step
Step-by-step guide to trading gold on MT4. From installation to placing your first gold trade with proper risk management.
Most guides on this topic are written by people who have never traded real money. This one is from the desk of a scalper.
Install MT4
Before you trade real money, spend two weeks on demo. I know it is boring. I skipped it and lost $300 in my first week because I did not know how to set a trailing stop. Do not be me.
Add XAUUSD Chart
Do not overthink the platform choice. MT4 and MT5 cover 99% of what you need. I started on MT4 and never switched. The tool does not make the trader — your understanding of price action does.
Set Up Your Chart
Learn three things on your platform: how to set a stop loss, how to set a take profit, and how to calculate position size. If you master these three, you know enough to start.
Place Your Trade
Start with 0.01 lots. I do not care if you have $10,000 or $100 in your account. 0.01 lots. Your goal is not to make money — your goal is to prove your strategy works with real money on the line.
Monitor and Manage
Set your stop loss based on market structure, not a fixed pip amount. I used to use 20 pips on everything. Now I look at where the trade setup invalidates and put my stop there. Big difference.
I have been trading XAUUSD for 6 years. Everything in this guide comes from real trades at my desk in Singapore — not from textbooks. Here is what I have learned.
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How to Trade Gold on MT4
MetaTrader 4 is the most popular trading platform for gold traders. Here's how to get started.
Step 1: Install MT4
Download from your broker's website. Most brokers offer MT4 for Windows, Mac, iOS, and Android.
Step 2: Add XAUUSD
Open Market Watch (Ctrl+M). Right-click > Symbols. Find XAUUSD, select it, click Show. Drag onto your chart.
Step 3: Chart Setup
Choose your timeframe (M15, H1, H4). Add indicators from the Navigator panel (Ctrl+N). Draw key levels manually.
Step 4: Place a Trade
F9 to open order window. Set volume, SL, TP. Choose market execution for immediate entry, or pending orders for entries at specific prices.
Step 5: Risk Management
Always set a stop loss. Calculate position size using the Position Size Calculator before entering.
On this page
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Recommended: Trade gold with EBC — tested across all sessions.
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