MetaTrader 4 Commodity Trading Software
The best commodity software is the MT4 Commodity Trading software. This is one of the most common commodity trading software that is used almost by every Commodity trader as well as almost every online broker.
In this guide we shall explain the MetaTrader 4 Interface so that beginner traders wanting to begin learning this Commodity Trading charting software, can then begin from this lesson.
Best Online Commodity Platform - MetaTrader 4 Workspace
Form the above image of the this software there are several tool-bars as well as chart window.
You can download this online commodity trading platform from your broker's website. Now after you download it, then you will need to learn one or two things about this commodity trading platform:
The first thing is how to setup this commodity trading software after you download. For example if you download the MT4, you will need to go to a broker first, register for a practice trading account then after you sign up for a demo commodities account you'll be provided with a link where to download the MT4.
Now once you download this commodity trading software, assuming you do not know much about Desktop computers, Open your Web Browser >>> Go to tools at top left corner of your browser next to "file", "edit", "view" & click on tools, select download folder location, (shortcut: once you open your browser click CTRL+J or CTRL+Y), a download pop up will appear with links to downloaded items. Choose the software that you have just downloaded.
Installing MetaTrader 4 Commodities Trading Software
To setup this software after you've downloaded, launch the download from where you downloaded, from there an installation wizard pops up and all you've to do is to follow the setup instructions. After set up the platform will run automatically just like any other software. Read guide How to install MetaTrader 4 commodities trading software.
You can open the MT4 from the start menu>>> Programs or from the desktop shortcut that appears as a desktop icon marked MT4 after setup.
Demo Commodities Account Opening & Sign in
To open an account in MT4 just click on "file" and then on open an account, to login to an account just click on "file" at the top right corner and click sign in from the drop-down menu that appears.
Once youlogin to the platform you'll get access to charts & other technical analysis tools such as technical indicators that you will then use to place trades within the commodities trading market while connected to your commodity broker's servers.
Commodity Platform Menu Bar & ToolBars
Menu Bar on MT4 For Navigating within the Software
Menu bar is used to operate and navigate this commodity trading platform from one single panel. From this panel you can set how to view tool bars, chart, data window & even use the file tab to open a commodities account - & also sign in to your account.
Form the menu bar you can click on view tab & select toolbars like in the above pictured image, these menu bars can be used to set up charts, indicators, time frames, & others things like drawing commodity trend lines and Fibonacci retracement levels and Fibonacci expansion levels. To learn how to customize this platform go to this MT4 Commodity Platform Lesson Section.
Now that we have looked at the tool-bar and menu bar, we shall look at the main work-space interface of the MT4 commodities trading platform - MetaTrader 4 Software - MetaTrader 4 Commodity Trading Platform.
Best Online Commodity Platform - MT4
Market Watch window - This window is used to show a stream of the exchange rates that's obtained from your commodity broker. In this market watch window panel you can right click anywhere on this window panel to choose show all trading instruments or hide the ones you're not interested in and save some bandwidth at same time. No need to have prices for 50 trading instruments if you are only interested in 4 trading instruments.
Data Window - Used to setup Indicators, Expert Advisors and scripts, you can click on any of this menu sub items and expand/collapse the indicators or Expert Advisors used for automated trading.
Charts Panel - This is where the price moves will be drawn.
Charts Tab - Navigation from one trading instrument to another is easy, just flip through the charts tab as illustrated above.
Terminal - This window is used to display a statement of your trades, profits & loses that you have made in your live commodities trading account or demo commodities trading account. To enlarge this window & view the open trades, just hover the mouse on the terminal window toolbar until the cursor pointer changes, click & hold down the mouse button key & then move cursor pointer upward.
Connection bars - These are used to show the connection to the net, red bars mean no internet connection, green bars illustrate there is internet connection.
Exchange Rates Graph - this shows the exchange rates for commodity that you're trading so that to display if the exchange rate is going upwards or downwards.
Why MT4 is Best Commodities Trading Platform
In the online commodity market there are many commodity platforms available around the internet. But among the top commodity softwares best commodity platform is MT4, it is the best Commodity software because of the following reasons:
Low Bandwidth Connection Requirement
Not everyone can afford the best internet connection, the T1, the satellite, ADSL or Fiber Optic internet connection: furthermore, these are not freely available to some residential areas and may be limited to office buildings. This is why it is best to choose a commodity software which requires the minimum band-width, the MT4. Even with the best connection, sometimes the connection may not be available and you may need to use an alternative connection like the dial up or modem. MetaTrader 4 is the least expensive if you are on a modem. To even reduce further the inter-net band width usage go to market watch (Short cut Key press CTRL+M), Right-Click on any instrument, Select "Hide all", now the platform will only stream the commodity price quotes for the pairs you only need and conserve your bandwidth even further. Especially when using a mobile phone or i Pad or a Tablet where you are paying for phone credit this can save your credit. This is one of the reason why MT4 is considered as one of the best commodity trading platforms online.
The easier it is to connect the easier it is open & close trades on time.
Provided by all Brokers
Another reason why this Commodity Trading software is considered as one of the best commodity trading platform is because MetaTrader 4 is liked by most traders all brokers provide it. Once as a learns the MT4 commodities trading platform there's no need to re-learn when you switch to another commodities trading broker. You can still use the same MT4 of the new commodity broker without the need to learn a new platform all over again.
Easy Technical Analysis
The other thing that makes this the best commodity platform is ease with which you can set up the technical analysis technical indicators on the commodity trading charts. Even those using various web traders will do their technical analysis in MetaTrader 4 and then place their commodity orders on their web trader.
Technical traders can also install custom technical indicators on this software, making it easier to add more technical analysis tools on to this trading software. Others also install automated Expert Advisors on this commodity trading platform so as to trade automatically with these programs known as automated Expert-Advisor Commodity Bots.
Best Charts
The MT4 has the best commodity platform charts representations available & implements many chart time frames from which a investor can choose.
Simplicity
Overall the simplicity of this software & the fact that any investor can learn how to use MT4 within one hour makes this the best software for new and experienced commodities traders.
According to commodity trading platform reviews of the top commodity trading platforms MT4 is the best commodity trading platform. Therefore, traders looking for what is the best commodity software can begin trading with the MT4 Commodity Trading software as it is the best software & it's very easy to learn.
MT4 Commodity Software - MT4 Software - MT4 Commodity Trading Platform
