How to Trade Gold on MT4: Step-by-Step

Beginner阅读时间 8 分钟

Step-by-step guide to trading gold on MT4. From installation to placing your first gold trade with proper risk management.

Doug's Take

After 200+ trades shared on this site, these are the methods that survived the market. I use them every session.

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.

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