Commodities Trading MT4 Transactions Tabs Panel
The MT4 Commodity Platform Terminal Window is mainly used for monitoring your commodity trading balance, account equity and transaction reports mainly. There are other operations that can be set up on this panel but most of these are not oftenly used.
On the online commodity trading platform MT4 the Terminal Window Panel is shown below:
Terminal Window - MT4 Online Commodity Software
The Terminal Window has the Following Sub-Menu or Tabs:
- Trade
- Commodity Trading Account History
- News
- Alerts
- Mailbox
- Trading Signals
- Code Base
- Experts
- Journal
Let us look at each on its own:
Trade Tab
If you open a Commodity Trading on the MetaTrader 4 platform, the transaction will then be recorded here on this Trade Tab. For Example if you sell The Commodity Trading, open a sell commodity trade order the following details will be recorded on this Trade Tab panel.
Trade Tab - Commodity Trading Platform Trading Windows
From the above example: trade details are shown above under column details marked
Order, Time, Type, Size, Quote, Commodity Trading 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, - MT4 Symbol
Open Commodity Trading Price - 1.35185
S/L, - Stop Loss Commodity Trading Order
T/P, - Take-Profit Commodity Trading Order
Current Commodity Trading Price
Commission, - Commission (no commission charged by this broker)
Swap, - no swap charged as per now, the trade has not stayed overnight
Profit - $51 dollars
The most common operation after opening a trade is to place the Stop-Loss Commodity Order & Take-Profit Commodity Trading 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 work-space after setting these two levels, the stoploss will close your order with a minimum loss and the take profit will close-out your trade at a reasonable profit.
To place this S/L & T/P, we shall Right Click anywhere within this Trade Tab, the part shaded grey, the following menu will pop up and appear, this is the menu used to make changes to the current order that has been opened.
This will popup as:
Modify a Commodities Order on MetaTrader 4 Software
Menu has The following Options:
- New Order - Put a new transaction
- Close - Can close this transaction at current commodity price
- Modify or Delete - Can Modify the S/L & T/P, (order can't be deleted, delete is for pending commodity orders that are not yet executed)
- Trailing Stop - Set a trailing Stop Loss Commodity Trading Order
- Profit - View profit as either pips or in dollars: depending on which option you favor.
- Commission, Taxes, Comments, are additional columns which you as a trader can chose to show or hide by ticking/unticking(Checking/Unchecking) them.
- Auto Arrange - Arrange commodity charts according to alphabet, time of open, most profitable according to sorting by selecting a column of arranging priority, for examples "Time" column.
- Grid - Show Grid or don't Show Grid, by Checking or Unchecking this option.
To Set Take Profit Commodity Trading Order & Stop Loss Commodity Order, T/P & S/L we use the third option, "Modify or Delete", after clicking this the following panel will pop-up:
SL Order is placed at 250 points - 25 pips
TP Order is placed at 500 points - 50 pips
You can set this two points by selecting 250 & 500 on the part labeled points, the red part marked copy is for Stop Loss Commodity Trading Order & blue part marked copy as is for Take Profit Commodity Trading Order as shown on the screen shot below.
After that press the wide red button marked modify to modify.
Modify a Order on MT4
Order will then appear as below, note that the S/L and T/P columns for our trade have been updated now as illustrated & shown below.
Take Profit Commodity Trading Order & Stop Loss Commodity Trading Order Levels Shown on Meta Trader Platform
S/L & T/P Order Details Updated on the MetaTrader 4 Platform Transaction Panel
If you were to close the above transaction now, then the transactions will be updated as follows, to reflect that the transaction has been closed & the profit added to your trading account balance.
Commodity Trading Account Balance Updated on the MetaTrader 4 Software
Commodity Trading Account History
This is used to generate trade reports of trades that have been opened previously & have been closed. This is a record of all previous transactions.
Trade Reports Panel on MetaTrader 4
On the above examples, there are currently no trade records on this transaction history recorded. There needs to be a couple of closed transactions for this record to show some entries.
MetaTrader 4 Commodity Trading Transaction Recorded on MT4 Commodities Trading Account History Transaction Tab
From the above examples, once our open order was closed the trade transaction was then recorded as an entry within the "Account History" of the MT4 Commodities Trading Platform
MetaTrader 4 Commodities Account History Menu
Commodity Trading Account History Menu
This menu is displayed above and can be accessed by right-clicking anywhere within the account history panel. Last Four (commissions, Taxes, comments, Auto Arrange & 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 Three Months, Last Month or a Custom Period - all these options can be used to select time period for which you as the trader wants to generate the history of transactions.
Save as Report, Save as Detailed Report - This will generate a report of all transactions along with profit and loss calculation, draw down calculation, profit factor calculation, expected pay-off 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 Commodity Trading Account in MT4 Trader Platform
Save as Report
Save as Detailed Report
Saving detailed Reports of Trading Transactions History on Meta Trading 4 Commodity Trading Software
News Tab
This is the third option within the MT4 Terminal Window this panel is used to display a list of current news provided as a news feed by your commodity broker. This is shown below:
Commodities Trading News Stream on MT4
Alerts Tab
This is used to set an alert for commodity price when it reaches a pre determined level. For examples you may be using a Bollinger bands, an indicator that forms an upper boundary & lower boundary and you want to set an alert for commodity price when it gets to any one of these levels.
For examples, in our above example we might want to put an alert for at 50 pips below the current commodity price, we shall open the Alerts Tab, & right-click to activate the menu below:
How to Set Commodity Trading Price Alerts on MetaTrader 4
On the above panel, select, Create & create one as follows:
Setting Commodity Trading Price Alerts in MetaTrader 4 Software
Put the sound as the alert action, set commodity symbol, set the condition to set is when bid commodity price is less than(Bid<-<) & put the value for example at 1.34730, select the source of the alert sound as above, (This is a sound file with extension Alert.wav), adjust timeout to 10 seconds and iterations at maximum of 50, then choose OK to activate it.
Setting Commodity Trading Price Alerts in MetaTrader 4
The above alert is then set and an alert will sound off once this commodity price 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 MT4 & practice opening this 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 that have been sent to you, to your Online commodity software as illustrated below:
Mail Box on MT4
Commodities Trading Signals Tab
Contains of a list of Commodity Trading Signal Providers that traders can subscribe to through their MT4 Commodity Trading Software, this is illustrated and shown below, one can select any signal provider and click subscribe to get the trade signals.
MetaTrader 4 Signals Provided From MQL5 Commodity Trading Web Site Directly To The Software
To know more about MT4 MQL5 Signals, navigate to the MQL5 Commodity Trading Signals Page.
CodeBase Tab
CodeBase contains a list or a library of Expert Advisors that one can purchase from through their MetaTrader 4 commodities trading platform & then use this Expert Advisors which are automated programs used to trade commodity. These EA Commodity Trading Bots are set up Expert Advisors on the traders MetaTrader 4 platform. To use these Expert Advisors (EAs) one has to activate automated trading option within their platform a topic explained in the next tutorial. The Code Base is shown Below:
MetaTrader 4 Commodity Expert-Advisors Provided From the MQL5 Commodity Trading Web Site Directly To The Software
To know more about MT4 MQL5 Commodity Trading Expert-Advisors, navigate to the MQL5 Commodities Trading Expert-Advisors Page.
Experts Tab
Shows a list of all Expert Advisors that have been installed on the MT4 Platform, For Example the image below shows two Expert Advisor Commodity Robots are installed on this commodity trading platform. This option also shows the trading specifications of each Expert-Advisor, these include trading parameters such as Take Profit Commodity Orders, Lot Size, Trailing Stop Levels & all the other custom trading parameters of the Expert Advisor that has been installed on the commodity trading platform.
Automated Commodity Expert-Advisors Installed in MetaTrader 4
Journal Tab
Tracks login activities of the MT4 and from which Desktop computer and the IP address of the computer used to login to the trading platform.
This is more on the technical stuff and traders don't use this one a lot & therefore we shall not explain it here but you can look at this at your own free time, on your MT4 Commodity Trading Platform.
