How Commodities Market Trading Platform Works?

Advanced Software - How to Analyze The Commodities Market With Commodities Software

The following screenshot below shows the main MetaTrader 4 commodities software inter-face. As a beginner commodities trader trying to learn how to execute commodities orders in the online commodities currency market, the main tool for trading the commodities market is the MT4 commodities trading platform software. This MT4 commodities software is the software which you'll connect to your commodity trading broker with and execute commodities trade transactions & monitor your commodities account balance from this MT4 commodities platform.

The Commodities MT4 platform software is provided for free through the various Commodities broker websites. This MT4 commodities software looks like the example below:

The Main Areas of this MetaTrader 4 platform as illustrated above are:

1. MetaTrader 4 Navigation Menus
2. Toolbars
3. MT4 Chart Panel
4. MetaTrader 4 Navigator Window
5. MetaTrader 4 Market Watch Window
6. MT4 Terminal
7. MT4 Connection Bars

For this MetaTrader 4 tutorial we shall look at a brief introduction for each of these learn commodities MetaTrader 4 platform:

1. Navigation Menus

The MetaTrader 4 navigation menus are:

1. File
2. View
3. Insert
4. Charts
5. Tools
6. Window
7. Help

These are the main MT4 navigation menus which can be used to navigate the MT4 commodities software. As a beginner commodities trader you can begin by just clicking any of these MT4 navigation menus to familiarize yourself with various MT4 button keys that are arranged as MT4 submenus within these MT4 navigation menus.

These MetaTrader 4 navigation menus will be described & covered in details in the next MT4 tutorials about navigation menus.

2. Tool-Bars

The MetaTrader 4 toolbars are used to manipulate MT4 charts, either by placing MetaTrader 4 indicators, MT4 line studies, change MetaTrader 4 chart timeframes and load MT4 template from a list of saved MT4 templates.

These MT4 tool-bars will be discussed on other MT4 guides that will outline each MT4 button on this MT4 toolbar & how to add and customize these MT4 toolbars.

3. Chart Window Panel

This MetaTrader 4 chart window is the main area where MT4 currency charts are displayed and a trader can interpret the market trend direction of a MT4 chart whether up or down, place MetaTrader 4 chart indicators for technical analysis & even place orders from these MT4 charts.

4. Navigator

MT4 Navigator will contain information about MT4 accounts, whether practice or real, this MT4 window will also have a list of all the MT4 technical indicators as well as MT4 Expert Advisors & scripts.

A trader can choose which MT4 account to login by expanding the Accounts menu, choose an MT4 indicator by expanding the MT4 indicator menu or choose an MT4 Expert Advisor by expanding the Expert Advisor menu.

5. Market Watch

MetaTrader 4 Market watch is used to show streaming currency quotes for MT4 currency pairs. This can list as many quotes provided by your MT4 Commodities broker or a few chosen by a trader. To save internet band width, right-click inside the MT4 market watch window and select 'Hide All', so as to hide the currencies that you are not transacting on this MT4 platform and save on inter-net band width.

6. Terminal

This is MetaTrader 4 window panel that is like the bank account trade area for your MT4 currency trade transactions, on this MT4 window you can view your trading account balance, profit and losses statement, equity, margin used also retrieve a copy of all your MT4 commodities trade transactions history.

This MT4 window panel will also list all open commodities trade transactions and calculate all the profit and loss in realtime as the commodities currencies move up or down.

7. Connection Bar

MT4 connection bars - Red bars are for no connectivity, green bars show that there is connection to the servers and MetaTrader 4 commodities trade orders can be set. These MetaTrader 4 connection bars should always be green when one logged into their MT4 practice account or MetaTrader 4 live account.

These MT4 platform main areas form the MT4 platform interface & will be the main areas to be covered in detail in next learn MetaTrader 4 guides. For now it's best to download MT4 software software and familiarize yourself with MT4 software interface.

Why Commodity Software is Required for Placing Currency Transactions with Commodities Brokers

Commodities software is the software which is used to access the currency market & analyze these currencies using commodities charts technical analysis tools. There are various reasons why a trader requires to use a good commodity platform. A good commodity platform can determine if a as a trader you make profit or not.

So why does a trader need a good Commodities Trading Software:

To connect to the Commodities Broker Trading Server:

To place a commodities trade order one needs to use a commodities platform which will connect to the trading servers of their commodities broker & this will allow them to open & close commodities trade orders. Good commodities trading platforms will connect with ease to the brokers' servers & allow commodities traders to place commodities trading orders at any time from their desktop computer.

To analyze commodities charts & currencies using commodities technical analysis tools

To place a buy or sell commodities order a trader needs to first analyze the direction of currency pair using commodities charts. This is why all good commodity platforms provide commodity trading technical tools such as commodities price charts, commodities indicators & various different chart timeframes from which trader can analyze commodities price moves using the commodity trading chart time frames of their choice.

From the above commodity trading platform inter-face, the summary of all data required by a trader is provided on this MetaTrader 4 platform interface

• Connection - connection to the broker servers
• Charts - price graphs that display commodities prices
• Tool bars - tool-bars to add tools & technical analysis indicators on commodities charts
• Market Watch - for displaying available instruments on MT4 platform
• Data panel - provides MT4 commodities trading account data & other commodities technical indicator data
• Exchange rates - shows current market price of a currency pair
• Menu bar - Shows all menu items in MT4 software