Trading Crude Oil Get Started with Oil MT4 Platform
To start oil trading with the MetaTrader 4 crude oil platform, you need to follow steps listed below:
Download MT4 Oil Trading Software
Install MetaTrader 4 Oil Trading Platform on Your PC.Open a crude oil trading account on the MT4 platform.Log in to the MT4 Crude Oil Trading Account with your crude oil trading account sign in details Open Oil Charts & place Oil Trades using MetaTrader 4 Oil Trading Platform.
How to Open a MT4 Oil Trading Account
After you Download MetaTrader 4 Oil Trading Platform from your oil broker you'll then need to open a MetaTrader 4 Crude Oil Trading Account to trade with.
How to Open a Demo Account using MT4 Oil Trading Platform
- Download the MetaTrader 4 Oil Software - MetaTrader 4 Oil Trading Platform.
- Install MT4 Oil Trading Platform.
- Open MetaTrader 4 Oil Trading Platform.
- Enter the Log in Details: Account Name and Password for the Demo Trade Account
- Open Oil Charts & start practice trading.
- If you do not have a oil trading demo crude oil trading account you can register for a demo trade account using the File menu, Click New Practice Account Registration and enter your details and sign up for an MetaTrader 4 crude oil trading account.
How to Open a Real Trading Account on MetaTrader 4
- Download MetaTrader 4 Crude Oil Trading Platform
- Install MetaTrader 4 Oil Platform on your PC Computer.
- Open MetaTrader 4 Oil Platform on your PC Computer.
- Click on the File Menu & Choose Open an Account.
- Select The Real Trading Account Option.
- Fill in the real oil trading account opening form.
- Enter you crude oil trading account login credentials for the Demo practice account.
- Trade Oil Trading from the free MT4 oil charts provided.
Trading Crude Oil Start Trading in MetaTrader 4 Software
The following screen-shot below shows the main MT4 crude oil software inter-face. As a beginner trader trying to learn how to execute oil orders in the online oil market, the main tool for trading the online oil market is the MT4 crude oil trading platform software. This is the software that you'll connect to your online crude oil broker and execute oil trade transactions & monitor your oil trading account balance from this MetaTrader 4 crude oil software.
The MT4 crude oil trading platform is provided for free through the various oil broker web sites. This MT4 software looks like the crude oil trading example explained below:
Trading Crude Oil Get Started with Oil Trading MT4 Platform? - Oil Trading Account MT4 Download
Main Areas of this MetaTrader 4 crude oil software as shown above are:
- Navigation Menus
- Toolbars
- Chart Window
- Navigator Window
- Market Watch Window
- Terminal Window
- Connection Bars
For this MetaTrader 4 crude oil trading platform tutorial we shall look at a brief introduction for each of these how to use MT4 crude oil trading software courses:
1. Navigation Menus
The navigation menus are:
- File
- View
- Insert
- Charts
- Tools
- Window
- Help
These are main navigation menus that can be used to navigate the MT4 oil trading software. As a oil trading beginner you can start by just clicking any of these navigation menus to familiarize yourself with the various button keys that are arranged as sub menus within these navigation menus.
These navigation menus will be discussed in details in the next MT4 crude oil software tutorial for oil novice traders about navigation menus.
2. Toolbars
This how to trade on MetaTrader 4 explains the tool bars are used to manipulate charts, either by placing indicators, line studies, change oil chart timeframes and load an MetaTrader 4 template from a list of saved templates.
These tool bars will be discussed on other how to use MT4 crude oil trading platform guides which will outline each button key on this tool bar & how to add & customize these tool bars.
3. Chart Panel
This is the main area where crude oil charts are displayed & a trader can analyze the oil trend direction of a oil chart whether up or down, place indicators on oil charts for technical analysis & even place orders from these oil charts.
4. Navigator
Navigator MT4 crude oil trading platform tutorial will contain information about crude oil accounts, whether practice MetaTrader 4 oil trading account or real MetaTrader 4 crude oil trading account, this window will also have a list of all the MetaTrader 4 indicators as well as Expert Advisors & scripts.
A trader can select which crude oil trading account to log in to by expanding the Accounts menu, select an technical indicator by expanding the indicator menu or select an EA by expanding the EA menu.
5. Market Watch
Market watch crude oil MetaTrader 4 tutorial - Market watch is used to show streaming quotes for oil. This panel can list as many quotes provided by your oil broker or a few which are selected by a oil trader. To save internet band width, right click inside the crude oil market watch window and choose 'Hide All', so as to hide the instruments that you're not trading and save on internet band width.
6. Terminal
This is the panel that is like the bank account trade area for your oil trade transactions, on this panel you can view your balance, profit and losses statement, equity, margin used also retrieve a copy of all your oil trading transactions history.
This will also list all open oil trade transactions and calculate all the profit & loss in real-time as the oil prices move upwards or downward.
7. Connection Bar
Red bars are for no connectivity, green bars show that there is connection to the servers & oil trade orders can be placed. These connection bars should always be green when one is logged into their MetaTrader 4 practice oil account or MT4 live trading account.
These main areas form the MT4 Crude Oil Trading Platform interface and will be the main areas to be covered in detail in next learn MT4 crude oil platform guides. For now it is best to download MT4 platform & familiarize yourself with the software interface.
Why Oil Trading Platform is Required for Placing Oil Trade trade transactions with Brokers
Oil platform is the software that's used to access the crude oil market & interpret these crude oil price movements using technical analysis oil charts. There are various reasons why a trader requires to use a good oil trading platform. A good oil platform can determine if a as a trader you make a profit or not.
So why does a trader need a good Oil Trading Software:
To connect to the Trading Server:
To open order a trader needs to use a oil trading platform which will connect to the trading servers of their crude oil broker and allow them to open & close orders. Good oil platforms will connect with ease to the brokers' servers & allow traders to place orders at any time from computer.
To analyze oil charts using technical analysis
To place buy or sell order a trader needs to first analyze the direction of oil. This is why all good oil trading platforms provide technical oil trading tools such as crude oil price charts, technical indicators and various different chart time-frames from which a trader can analyze crude oil price moves using chart time-frames of their choice.
How to Use MT4 Oil Platform Guide - Oil Trading Account MT4 Download
From above MetaTrader 4 crude oil platform interface, the summary of all information required by a trader is provided on this MetaTrader 4 crude oil trading software interface
- Connection - connection to the broker servers
- Charts - price graphs which display oil prices
- Tool bars - toolbars to add technical analysis tools & technical analysis technical indicators
- Market Watch - for displaying available financial instruments
- Data window panel - provides account data and other indicator data
- Exchange rates - shows current market crude oil price on a oil chart
- Menu bar - Shows all menu items on the platforms
How to Use MT4 Oil Platform Guide - Oil Trading Account MT4 Download
