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.
I tested every approach before landing on this one. Here is what actually works for gold.
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 over a decade. Everything in this guide comes from real trades at my desk in Singapore — not from textbooks. Here is what I have learned.
---
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
Recommended Brokers
Recommended: Trade gold with EBC — tested across all sessions.
Start Trading Gold →Recommended: Trade gold with Wisuno — tested across all sessions.
Start Trading Gold →Related Guides
What You Will Learn in This Guide
This guide covers "scalping gold strategy", "gold trading guide", "what moves gold price". Whether you are new to gold trading or refining your approach, understanding {category.toLowerCase()} principles helps you make better trading decisions.
Why How to Trade Gold on MT4: Step-by-Step Matters for Gold Trading
Every gold trader needs to understand "what is my position size for gold", "proper lot size for gold", "compute pip value for gold". Without proper {toolName.toLowerCase()}, you are trading blind. Use this tool alongside how to control emotions in gold trading, gold trader mindset and trader psychology tips to build a complete risk management framework.
Related Risk Management Concepts
Understanding "what is my position size for gold", "proper lot size for gold", "compute pip value for gold" is just the beginning. Serious gold traders also study how to control emotions in gold trading, gold trader mindset and trader psychology tips to protect their capital. Master these concepts and you will trade with confidence across all sessions.
More from Lin's Desk
Hand-picked by Lin — from my trading desk to yours.
How to Trade Gold on MT4: Step-by-Step
I go back to this one whenever I need to refocus on the basics.
8 min readMT4 vs MT5 for Gold Trading
This covers the strategy I use during US session trading. Tested across hundreds of sessions.
6 min readBest Mobile Gold Trading Apps
One of the first guides I wrote for gold traders — still the foundation of my approach.
5 min readEBC Financial Group
One of the brokers I personally use. Consistent spreads and reliable withdrawals.