MT5 Terminal Window

The MT5 Platform Terminal Window Panel is mainly used for monitoring your Commodities MT5 account balance, MT5 account equity and transaction reports mainly. There are other operations that can be set up on this panel but most of these are not commonly used.

On the online trading platform MT5 the Terminal Panel is illustrated below:

Terminal Window - MT5 Online Platform

The Terminal Window Panel has the Following Sub Menu or Tabs:

1. Trade
2. Commodities Account History
3. News
4. Alerts
5. Mailbox
6. Trade Signals
7. Code Base
8. Experts
9. Journal

Let us look at each on its own:

Trade Tab

If you open a Commodity on the MT5 Platform, the transaction will then be recorded here on this Trade Tab. For Example if you sell The Commodities, open a sell commodity trade order the following details will be recorded on this Trade Tab panel.

Trade Tab - Trading Platform Windows

From above examples we have opened a Sell Commodities: The trade details are illustrated above under column details marked

Order, Time, Type, Size, Symbol, Commodities Price, S/L,T/P, Commission, Swap, Profit

Order, - The trade number

Time, - The Time

Type, - The Type of order, Sell or Buy

Size, - Size of trade, 1 Standard Lot

Quote, - commodity Symbol, Commodities

S/L, - StopLoss Trade Order

T/P, - Take Profit Trade Order

Current Price

Commission, - Commission (no commission charged by this trading expert broker)

Swap, - no swap charged as per now, the trade has not stayed overnight

Profit - $51 dollars

Most common operation after opening a trade is to place the Stop Loss Order & TP Order, These are abbreviated as S/L & T/P. There is likely no other operation to setup after this only to monitor the trades within the trading platform workspace after setting these two levels, the stop loss will close your order with a minimum loss & take profit will close your it at a reasonable profit.

To place this S/L & T/P, we shall RightClick anywhere within this Trade Tab, part shaded grey, the following menu will pop-up, this is the menu that is used to make changes to the current order that has been opened.

This will pop up as:

Modify a Order on the MT5 Platform

Menu has The following Options:

1. New Order - Put a new transaction
2. Close - Can close this transaction at current price
3. Modify or Delete - Can Modify the S/L and T/P, (order can't be deleted, delete is for pending orders that are not yet executed)
4. Trailing Stop - Set a trailing Stop Loss Order
5. Profit - View profit as either pips, term or deposit currency: depending on which option you favor.
6. Commission, Taxes, Comments, are additional columns which you as a trader can chose to show or hide by ticking/unticking(Checking/Unchecking) them.
7. Auto Arrange - Arrange charts according to alphabet, time of open, most profitable according to sorting by selecting a column of arranging priority, for examples "Time" column.
8. Grid - Show Grid or do not Show Grid, by Ticking/Unticking This MetaTrader 5 option.

To Set Take Profit Trade Order and StopLoss Order, T/P & S/L we use the third option, "Modify or Delete", after clicking this the following panel will popup:

S/L Order is set at 250 points - 25 pips

T/P Order is set at 500 points - 50 pips

You can set this two points by selecting 250 and 500 on the part labeled points, the red part marked copy is for Stop Loss Order and blue part marked copy as is for Take Profit Order as shown and illustrated on screenshot below.

After that press the wide red button key marked modify to modify.

Modify a Order on MetaTrader 5 Platform

The order will then appear as below, note that the S/L & T/P columns for our trade have now been updated as illustrated below.

Take Profit Trade Order and StopLoss Order Levels Shown on Meta trader Platform

S/L and T/P Order Details Updated on the MetaTrader 4 Platform Transaction Panel

If you were to close above trade now, then trade transactions will be updated as follows, to reflect that the trade has been closed & the profit added to your MT5 account balance.

Trading Account Balance Updated on the MT5 Platform

Commodities Account History

This is used to generate trade reports of trades that have been opened previously and have been closed. This is a record of all previous transactions.

Trade Reports Window in MetaTrader 5 Platform

On the above examples, there are currently no trade records on this transaction history recorded. There needs to be a couple of closed trade transactions for this record to show some entries. Let us see what happens when we close our open position of commodities instrument.

Commodity Closed Transaction Recorded on MT5 Commodities Account History Transaction Tab

From above example, once our open trading order was closed the transaction was then recorded as an entry within the "Account History" of the MT5 Commodities Platform

MetaTrader 5 Commodities Account History Menu

Trading Account History Menu

This menu is displayed above & can be accessed by right clicking anywhere within MetaTrader 5 account history panel. The last Four (commissions, Taxes, comments, Auto Arrange and Grid are used more for formatting purposes but not for trading in general, therefore we shall not look on these as they are self explaining)

following 6 options are Shown Below:

All History, Last 3 Months, Last Month or a Custom Period - all these options can be used to select time period for which you as a trader wants to generate the history of transactions.

Save as Report, Save as Detailed Report - This will generate a report of all trade transactions along with profit & loss calculation, draw down calculation, profit factor calculation, expected payoff factor of the system you use along with total number of profitable trade transactions, losing ones, average loss per trade & the average profit per trade as shown below.

Generating Trade Reports of Your Commodities Account on MT5 Trader Platform

Save as Report

Save as Detailed Report

Saving detailed Reports of Transactions History on Meta 4 Commodities Platform

News Tab

This is the third option within the MT5 Terminal Window this panel is used to display a list of current news provided as a news feed by your trading broker. This is shown below:

Commodity News Stream on MT5 Platform

Alerts Tab

This is used to set an alert for price when it reaches a pre determined level. For example you might be using a Bollinger bands, an indicator that forms an upper boundary and lower boundary & you want to set an alert for price when it gets to any one of these levels.

For example, in our above example we may want to put an alert for at 50 pips below the prevailing price, we shall open the Alerts Tab, and right click to activate the menu below:

How to Set Price Alerts in MetaTrader 5 Platform

On the above panel, select, Create and create one as follows:

Setting Price Alerts in MetaTrader 5 Platform

Put the sound as the alert action, symbol is the Commodities, set the condition to set is when bid price is less than(Bid<-<) and put the value for examples at 1.34730, choose the source of alert sound as above, (This is a sound file with extension Alert.wav), adjust time-out to Ten seconds & iterations at maximum of 50, then choose OK to activate it.

Setting Price Alerts in MetaTrader 5 Platform

The above alert is then set & an alert will sound off once this price of Commodity goes below this level.

By right-clicking on this, the Alert Menu will provide options for modifying it, deleting it or turning it off. You can download the MetaTrader 5 and practice opening This MetaTrader 5 option to see how you can put a new alert or delete the same or modify it.

Mailbox Tab

Mail-box is used to view messages which have been sent to you, to your Online trading platform as shown below:

Mail Box on MT5 Platform

Commodities Trade Signals Tab

Contains of a list of Trading Signal Providers that traders can subscribe to through their MT5 Platform, this is shown and illustrated below, one can select any signal provider & click subscribe to get the trading signals.

MT5 Signals Provided From MQL5 Website Directly To The Platform

To learn more about MT5 MQL5 Signals, navigate to the MQL5 Trade Signals Page.

CodeBase Tab

CodeBase contains a list or a library of Automated Expert Advisors that one can purchase from through their MT5 Commodities Platform & then use this Automated Expert Advisors which are automated programs used to trade commodity. These EA Robots are set up Automated EAs on the traders MT5 Platform. To use these Automated EAs (EAs) one has to activate automated option within their platform a topic described in the next tutorial. The Code Base is shown Below:

MT5 Automated Expert Advisors Provided From the MQL5 Website Directly To The Platform

To learn more about MT5 MQL5 Automated Expert Advisors, navigate to the MQL5 Trade Automated Expert Advisors Page.

Experts Tab

Shows a list of all Automated Expert Advisors that have been installed on the MT5 Platform, For Example the image below highlights 2 EA Bots are installed on this platform. This MT5 option also shows the trading specifications of each EA, these include parameters such as Take Profit Orders, Lot Size, Trailing Stop Levels & all the other custom parameters of the Expert Advisor that has been installed on trading platform.

Automated Trade Automated Expert Advisors Installed in MetaTrader 5 Platform

Journal Tab

Tracks login activities of the MT4 & from which PC computer and IP address of the PC computer used to log on to the software.

This is more on the technical stuff & traders do not use this one a lot and therefore we shall not explain it here but you can look at this at your own free time, on your MT5 Platform.