Introduction to MT4 Platform Oil Trading Dashboard

The following screen-shot below shows the main MT4 crude oil trading 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 crude oil market is the MT4 crude oil trading platform software. This MT4 crude oil platform is the software that you will connect to your oil broker with and execute oil trade transactions & monitor your oil trading account balance from this MetaTrader 4 crude oil trading platform.

The MT4 crude oil trading platform software is provided for free through the various oil broker web sites. This MT4 oil platform looks like the crude oil trading example explained below:

Main Areas of this MT4 crude oil software as shown above are:

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

For this MetaTrader 4 crude oil trading platform tutorial we shall look at a brief introduction for each of these learn MT4 crude oil trading platform:

1. Navigation Menus

The MetaTrader 4 navigation menus are:

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

These are the main MT4 crude oil trading platform navigation menus that can be used to navigate the MT4 oil trading software. As a beginner trader you can start by just clicking any of these MT4 crude oil trading 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 crude oil platform guides about navigation menus.

2. Toolbars

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

These MetaTrader 4 tool bars will be discussed on other MT4 crude oil trading 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 MT4 oil chart window is the main area where MT4 crude 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 & even place orders from these MT4 oil charts.

4. Navigator

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

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

5. Market Watch

MT4 Market watch is used to show streaming crude oil quotes for MT4 oil trading instruments. This can list as many quotes provided by your MT4 oil broker or a few selected by a oil trader. To save internet band width, right click inside the MT4 market watch window and select 'Hide All', so as to hide the MetaTrader 4 symbols that you are not transacting on this MT4 crude oil trading software and save on internet band width.

6. Terminal

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

This MT4 window panel 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

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

These MetaTrader 4 crude oil platform main areas form the MT4 crude oil trading platform Dashboard 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 MetaTrader 4 crude oil trading platform software and familiarize yourself with the MT4 software Dashboard.

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

Oil platform is the software that's used to access the crude oil market & interpret these crude oil price movements using crude oil charts and crude oil analysis tools. 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 Crude Oil Trading Software:

To connect to the Oil Trading Broker Trading Server:

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

To analyze oil charts using crude oil trading analysis tools

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

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

• Connection - connection to the broker servers
• Charts - price graphs which display oil prices
• Toolbars - toolbars to add tools and technical analysis indicators on oil charts
• Market Watch - for displaying available financial instruments on MT4 platform
• Data window panel - provides MetaTrader 4 account information & other indicator data
• Exchange rates - shows current market oil price
• Menu bar - Shows all menu items on the MT4 platform