MT4 Commodities Software Tutorial for Beginner Traders

If you want to learn how to set-up the MT4 commodities trading software this commodity lesson explains the commodities trading step by step guide on how to setup MT4 Commodity Trading Platform for beginners with examples.

The following screenshot below shows the main MT4 commodities software inter-face. As a beginner trader trying to learn how to execute orders in online commodity market, the main tool for trading the commodities trading market is the MT4 commodities trading platform software. This is the commodity trading software that you will connect to your commodity broker with & execute commodity transactions & monitor your trading account balance.

The MT4 commodities platform for commodity trading is provided for free through the various commodity broker web sites. This MT4 platform looks like the commodities trading example shown below:

Learn MT4 Commodity Software - MT4 Commodity Platform Setup - MetaTrader 4 Commodity Software Tutorial for Beginner Traders

Main Areas of this MetaTrader 4 commodities trading platform as shown above are:

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

For this MetaTrader 4 Commodity Trading Software Set Up guide we shall look at a brief introduction for each of these:

1. MetaTrader 4 Navigation Menus MT4 Commodity Platform Setup - MetaTrader 4 Commodity Software Tutorial for Beginner Traders

The MetaTrader 4 navigation menus are:

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

These MetaTrader 4 menus are main navigation menus that can be used to navigate the MT4 commodities platform. As a commodity trading beginner you can start by just clicking any of these MT4 commodities trading platform navigation menus to familiarize yourself with various button keys that are arranged as sub menus within these navigation menus.

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

2. MT4 Tool Bars MT4 Commodity Platform Setup - MetaTrader 4 Commodity Software Tutorial for Beginner Traders

The MT4 toolbars are used to manipulate charts, either by placing indicators, line studies, change time-frames and load a template from a list of saved templates in the MT4 software.

These MT4 toolbars will be discussed on other MT4 platform setup guides which will outline each button on this tool-bar and how to add & customize these MT4 toolbars.

3. MT4 Commodity Trading Chart Window MT4 Commodity Platform Setup - MetaTrader 4 Commodity Software Tutorial for Beginner Traders

MT4 Commodity Trading Chart Panel is the main area where commodities trading charts are displayed & a trader can analyze the commodity trend direction of a commodity instrument whether up or down, place commodity indicators for technical analysis & even place trading orders from these commodity charts.

4. MT4 Navigator MT4 Commodity Platform Setup - MetaTrader 4 Commodity Software Tutorial for Beginner Traders

MT4 Navigator will contain information about commodities accounts, whether practice commodity trading account or real account, this window will also have a list of all the MT4 technical indicators as well as EAs and scripts.

A trader can select which account to login by expanding the Accounts menu, select an technical indicator by expanding the technical indicator menu or select an Expert Advisor by expanding the Expert Advisor menu.

4. MT4 Market Watch MT4 Commodity Platform Setup - MetaTrader 4 Commodity Software Tutorial for Beginner Traders

MT4 Market watch is used to show streaming quotes for commodity. This can list as many quotes provided by your commodity broker or a few selected by a trader. To save internet band width, right click inside the commodities trading market watch window & choose 'Hide All', so that to hide the MT4 symbols that you're not transacting & save on internet band width.

6. MT4 Terminal MT4 Commodity Platform Setup - MetaTrader 4 Commodity Software Tutorial for Beginner Traders

This is window panel that is like the bank account trade area for your commodity trades, on this window panel you can view your balance, profit and losses statement, equity, margin used also retrieve a copy of all your commodities trades transactions history.

This will also list all open trade transactions & calculate all the profit & loss in real-time as the commodity prices move upwards or downward.

7. MT4 Connection Bar MT4 Commodity Platform Setup - MetaTrader 4 Commodity Software Tutorial for Beginner Traders

Red bars are for no connectivity, green bars show that there's connectivity to the servers & trade orders can be set. These MT4 connection bars should always be green when one logged into their demo commodity trading account or real account.

These main areas form the MT4 Platform Setup tutorial and will be the main areas to be covered in detail in next learn MT4 commodities trading platform guides. For now it's best to download MT4 platform & familiarize yourself with MetaTrader 4 platform interface.

Why MT4 Commodity Trading Platform is Required for Placing Commodity Trade Transactions with Brokers

MT4 commodities platform is software that's used to access the commodities market & interpret these commodity price movements using technical analysis. There are various reasons why a trader requires to use a good commodity trading platform. A good commodity software can determine if a as a trader you make a profit or not.

So why does a trader need a good platform:

To connect to the Trading Server:

To place an order when trading online a trader needs to use a platform that will connect to the trading servers of their commodities trading broker & allow them to open & close trading orders. Good commodity softwares will connect with ease to the brokers' servers & allow traders to place orders at any time from desktop computer PC.

To analyze commodity charts using technical analysis

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

MetaTrader 4 Commodity Platform Setup - MetaTrader 4 Commodity Software Tutorial for Beginner Traders

From the above MT4 commodities platform interface, the summary of all data required by a trader is provided on this MT4 interface

• Connection - connection to the broker servers
• Charts - commodity price charts that display commodity prices
• Tool bars - tool bars to add tools and technical analysis technical indicators
• Market Watch - for displaying available financial instruments
• Data window panel - provides trading account information and other indicator data
• Exchange rates - shows current market commodity price on a commodity chart
• Menu bar - Shows all menu items on the MT4 platform

MetaTrader 4 Commodity Platform Setup - MetaTrader 4 Commodity Software Tutorial for Beginner Traders