What is a MT4 commodities trading platform?
The following screen-shot below shows the main MetaTrader 4 interface showing what is a MT4 commodities platform. As a beginner commodity trader trying to learn how to execute commodity orders in the online commodity market, the main tool for trading the commodity market is the MT4 commodities trading platform software. This How to Use MT4 Review Tutorial for Commodity Trading Beginners will explain how you can use this MT4 software to connect to your MT4 commodity broker and execute commodity transactions and monitor your commodity account balance from this MT4 commodities platform which you will download from online MT4 brokers.
The MT4 Commodities Trading Software is provided for free through the various commodities broker sites. This commodity software looks like the commodity example illustrated and explained below:
What is a MT4 commodities trading platform? - MT4 Commodities Trading Platform Introduction Tutorial - Introduction to MT4 Platform Interface - MT4 Introduction Guide
Main Areas of this MT4 commodities software as illustrated above are:
- Navigation Menus
- Toolbars
- Chart Window
- Navigator
- Market Watch
- Terminal
- Connection Bars
For this MT4 Introduction Lesson we shall look at a brief introduction for each of these:
1. Navigation Menus
The navigation menus are:
- File
- View
- Insert
- Charts
- Tools
- Window
- Help
These are the main navigation menus which can be used to navigate MT4 software. As a beginner commodity trader you can start by just clicking any of these navigation menus to familiarize yourself with various buttons that are arranged as sub menus within these navigation menus on the MT4 platform.
These MetaTrader 4 navigation menus will be discussed in details in the next MT4 Introduction Guides about navigation menus.
2. Toolbars
The MetaTrader 4 tool bars are used to manipulate commodity charts, either by placing commodity chart indicators, line studies, change commodity chart time frames and load a commodity MT4 template from a list of saved commodity chart templates.
These MetaTrader 4 tool bars will be discussed on other MT4 Introduction Tutorials which will outline each button on this MT4 tool bar and explain how to add MT4 commodity chart tool bars and how to customize MT4 commodity chart tool bars.
3. Chart Panel
This is the main area where commodity charts are displayed & a trader can analyze the commodity trend direction of a commodity chart whether up or down, place commodity chart indicators for technical analysis and even place commodity orders from these commodities price charts.
4. Navigator
Navigator panel will contain information about commodity accounts, whether demo commodity account or real account, this window panel will also have a list of all the MetaTrader 4 indicators as well as trading Expert Advisors & scripts.
A trader can choose which commodity account to login by expanding the Accounts menu, choose an indicator by expanding the commodity indicator menu or choose an Expert Advisor by expanding the commodity Expert Advisor menu.
5. Market Watch
Market watch is used to show streaming commodity quotes for commodity instruments. This can list as many commodity quotes provided by your commodity broker or a few chosen by a trader on the MT4 platform. To save internet bandwidth, right click inside the commodity market watch window and select "Hide All", so as to hide the commodity instruments that you are not trading & save on inter-net bandwidth.
6. Terminal
This is the panel that's like the bank account trade area for your commodity trade transactions, on this MT4 window you can view your commodity account balance, profit & losses statement, equity, margin used also retrieve a copy of all your commodity trade transactions history.
This will also list all open commodity trade transactions and calculate all the profit and loss in real-time as the commodity instruments commodities prices move in an upward or downwards direction.
7. Connection Bar
MT4 connection bars in MetaTrader 4 status bar - Red bars are for no connection, green bars show that there is connection to the broker servers and commodity trade orders can be set. These MT4 connection bars should always be green when one logged into their demo commodity account or live commodities trading account.
These main areas form the MT4 interface and will be the main areas to be covered in detail in the next MT4 Introduction Commodity Trading Tutorials. For now it is best to download MT4 software and familiarize yourself with MetaTrader 4 software interface.
Why Commodity Platform is Required for Placing Commodity Trade Transactions with Brokers
Commodities trading software is the software which is used to access the commodity market and interpret these commodities price movements using commodity charts and technical analysis trading 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 when trading using the platform.
So why does a trader need a good Commodity platform:
To connect to the Commodity Trading Broker Server:
To place a commodity trade order one needs to use a commodity platform which will connect to the trading servers of their commodity broker and allow them to open and close trade orders. Good commodity platforms will connect with ease to the brokers' servers and allow commodities traders to place commodities orders at any time from their PC desktop computer.
To analyze commodity charts using commodity charts and commodities technical analysis tools
To place a buy or sell commodity order a trader needs to first interpret the direction of a commodity. This is why all good commodity platforms provide commodities price charts and commodity technical analysis tools such as, commodity technical indicators & various different chart timeframes from which trader can analyze commodities price moves using the commodities chart time frames of their choice.
How to Use MT4 Guide
From the above MT4 commodities trading platform interface - MT4 Introduction Tutorial, the summary of all information required by a trader is provided on this interface
- Connection - connection to the broker servers
- Charts - commodities price graphs that display commodities prices movements
- Toolbars - commodities trading chart tool bars to add tools and technical analysis commodities indicators
- Market Watch - for displaying available financial instruments
- Data window panel - provides commodity account data and other indicator data
- Exchange rates - shows current market commodities price on a commodities chart
- Menu bar - Shows all menu items on the MT4 platform
