Crude Oil Trading MT4 Dashboard

The following screen-shot below shows the main MetaTrader 4 platform Dashboard. As a beginner trader trying to learn how to execute oil orders in the online oil market, the main tool for trading the oil market is the MT4 platform software. This MetaTrader 4 platform is the software which you will connect to your oil broker with & execute oil trade transactions & monitor your oil account balance from this MT4 software.

The Oil Trading MetaTrader 4 platform software is provided for free through the various crude oil broker sites. This MetaTrader 4 oil platform looks like the oil example shown below:

Main Areas of this MetaTrader 4 software as displayed above are:

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

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

1. Navigation Menus

The MT4 navigation menus are:

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

These are the main MT4 platform navigation menus which can be used to navigate the MT4 oil trading software. As a beginner trader you can start by just clicking any of these MT4 platform navigation menus to familiarize yourself with the various MT4 buttons that are arranged as MT4 sub menus within these MT4 navigation menus.

These MetaTrader 4 navigation menus will be discussed in details in the next MT4 platform tutorials about navigation menus.

2. Toolbars

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

These MetaTrader 4 tool bars will be discussed on other MT4 platform tutorials which will outline each MT4 button on this MT4 tool bar and how to add and customize these MT4 tool bars.

3. Chart Panel

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

4. Navigator

MetaTrader 4 Navigator will contain data about MT4 accounts, whether demo or real, this MT4 window will also have a list of all the MT4 indicators as well as MT4 Crude Oil Expert Advisors & scripts.

A trader can choose which MT4 account to login by expanding the Accounts menu, choose a MT4 indicator by expanding the MT4 indicator menu or choose a MT4 Crude Oil Trading EA by expanding the EA menu.

5. Market Watch

MT4 Market watch is used to show streaming oil quotes for MT4 oil instruments. This can list as many quotes provided by your MT4 oil broker or a few chosen by a oil trader. To save inter-net bandwidth, right-click inside the MT4 market watch window and select "Hide All", so as to hide the MT4 symbols that you are not transacting on this MT4 platform and save on inter-net bandwidth.

6. Terminal

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

This MetaTrader 4 panel will also list all open oil trade transactions and calculate all the profit & loss in real-time as the crude oil prices move in an upward or downwards direction.

7. Connection Bar

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

These MetaTrader 4 software main areas form the MT4 platform Dashboard and will be the main areas to be covered in detail in the next learn MetaTrader 4 platform tutorials. For now it is best to download MT4 software software and familiarize yourself with the MT4 software Dashboard.

Why Oil Trading Software is Required for Placing Oil Trade Transactions with Oil Trading Brokers

Oil trading platform is software that's used to access the oil market and interpret these crude oil price movements using oil charts and oil technical analysis tools. There are various reasons why a trader requires to use a good oil platform. A good oil platform can determine if a as a trader you make profit or not.

So why does a trader need a good Oil platform:

To connect to the Oil Trading Broker Server:

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

To analyze oil charts using crude oil technical analysis tools

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

From the above oil platform Dashboard, the summary of all information required by a trader is provided on this MT4 platform Dashboard

• Connection - connection to the broker servers
• Charts - price graphs which display crude oil prices
• Tool bars - tool-bars to add tools and technical analysis indicators on crude oil charts
• Market Watch - for displaying available financial instruments in MetaTrader 4 platform
• Data panel - provides MetaTrader 4 oil account data and other technical oil trading indicator data
• Exchange rates - shows current market crude oil price of a crude trading instrument
• Menu bar - Shows all menu items on MT4 platform