Introduction to MT5 Platform Interface

The following screen shot below shows the main MT5 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 crude oil market is the MT5 crude oil trading platform software. This MT5 crude oil platform is the software that you will connect to your oil broker with and execute oil trade transactions & monitor your crude oil MT5 account balance from this MT5 crude oil trading platform.

The MT5 Oil Trading Platform software is provided for free through the various oil broker web sites. This MT5 oil platform looks like the crude oil trading example explained below:

Main Areas of this MT5 crude oil software as shown above are:

1. MT5 Navigation Menus
2. Toolbars
3. MetaTrader 5 Oil Trading Chart Window
4. MT5 Navigator Panel
5. MetaTrader 5 Market Watch Window Panel
6. MetaTrader 5 Terminal
7. MT5 Connection Bars

For this MT5 tutorial we shall look at a brief introduction for each of these learn oil trading MT5 Oil Trading Platform:

1. Navigation Menus

The MT5 navigation menus are:

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

These are the main MT5 navigation menus that can be used to navigate the MT5 oil trading software. As a beginner trader you can start by just clicking any of these MT5 navigation menus to familiarize yourself with the various MT5 buttons that are arranged as MT5 sub menus within these MT5 navigation menus.

These MT5 navigation menus will be discussed and covered in details in the next MT5 guides about navigation menus.

2. Toolbars

The MT5 tool-bars are used to manipulate MT5 oil charts, either by placing MT5 indicators, MT5 line studies, change MT5 oil chart timeframes and load MT5 oil chart template from a list of saved MT5 oil chart templates.

These MT5 tool bars will be discussed on other MT5 tutorials which will outline each MT5 button key on this MT5 tool bar & how to add and customize these MT5 tool-bars.

3. Chart Panel

This MetaTrader 5 oil chart window is the main area where MT5 crude oil charts are displayed & a trader can analyze the oil trend direction of a MetaTrader 5 oil chart whether up or down, place MT5 oil chart indicators for crude oil analysis & even place orders from these MT5 oil trading charts.

4. Navigator

MT5 Navigator will contain information about MT5 accounts, whether practice or real, this MT5 window will also have a list of all the MT5 indicators as well as MT5 Automated Oil Expert Advisors & scripts.

A trader can select which MT5 account to login by expanding the Accounts menu, choose a MT5 indicator by expanding the MT5 indicator menu or choose an MT5 Automated Oil Expert-Advisor by expanding the Automated Oil Expert-Advisor menu.

5. Market Watch

MetaTrader 5 Market watch is used to show streaming crude oil quotes for MT5 oil trading instruments. This can list as many quotes provided by your MT5 oil broker or a few selected by a oil trader. To save internet band width, right click inside the MT5 market watch window and select 'Hide All', so as to hide the MetaTrader 4 symbols that you are not transacting on this MT5 Oil Platform & save on internet band width.

6. Terminal

This is the MT5 window that is like the bank MT5 account transaction area for your MT5 oil trade transactions, on this MT5 window you can view your MT5 account balance, profit & losses statement, equity, margin used also retrieve a copy of all your MT5 oil trade transactions history.

This MetaTrader 5 window will also list all open oil trade transactions and calculate all the profit & loss in real-time as the oil charts move up or down.

7. Connection Bar

MetaTrader 5 connection bars - Red bars are for no connectivity, green bars show that there's connectivity to the servers & MT5 oil trade orders can be placed. These MT5 connection bars should always be green when one logged into their MT5 demo MT5 account or MT5 live account.

These MetaTrader 5 Oil Trading Platform main areas form the MT5 Oil Trading Software interface and will be the main areas to be covered in detail in next learn MT5 tutorials. For now it is best to download MT5 Oil Trading Platform software and familiarize yourself with MT5 software interface.

Why Oil Trading Platform is Required for Placing Oil trading 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 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 trading 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 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 platform interface, the summary of all information required by a trader is provided on this MT5 Oil Trading Platform interface

• Connection - connection to the broker servers
• Charts - price graphs which display oil prices
• Toolbars - MetaTrader 5 tool bars to add tools and crude oil trading analysis indicators on oil trading charts
• Market Watch - for displaying available financial instruments on MetaTrader 5
• Data panel - provides MetaTrader 5 account data and other indicator data
• Exchange rates - shows current market crude oil price on a oil trading chart
• Menu bar - Shows all menu items on the MT5 Platform