MT5 Terminal Window
The MetaTrader 5 Oil Platform Terminal Window is mainly used for monitoring your Oil Trading MT5 account balance, MT5 account equity and transaction reports mainly. There are other operations that can be set up on this panel but most of these are not commonly used.
On the online oil trading platform MT5 the Terminal Panel is shown below:
Terminal Window - MT5 Online Oil Trading Software
The Terminal Window has the Following Sub Menu or Tabs:
- Trade
- Crude Oil 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 Oil Trading on the MT5 Platform, the transaction will then be recorded here on this Trade Tab. For Example if you sell The Oil Trading, open a sell oil trade order the following details will be recorded on this Trade Tab panel.
Trade Tab - Oil Trading Platform Trading Windows
From the above examples we have opened a Sell Oil Trading: trade details are illustrated above under the column details marked
Order, Time, Type, Size, Symbol, Oil 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, - oil Symbol, Oil Trading
S/L, - Stop Loss Oil Trading Order
T/P, - Take-Profit Oil Trading Order
Current Oil 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
Most common operation after opening a trade is to place the StopLoss Oil Trading Order & Take-Profit Oil Trading Order, These are abbreviated as S/L and T/P. There is likely no other operation to setup after this only to monitor the crude oil trades within the trading platform work-space after setting these 2 levels, the stop-loss will close your trading order with a minimum loss & take profit will close your it at a reasonable profit.
To place this S/L & T/P, we shall Right Click anywhere within this Trade Tab, the part shaded grey, following menu will appear, this is used to make changes to the current order that is open.
This will popup as:
Modify a Oil Order on MetaTrader 5 Software
The Menu has The following Options:
- New Order - Put a new transaction
- Close - Can close this transaction at current oil price
- Modify or Delete - Can Modify the S/L & T/P, (order cannot be deleted, delete is for pending oil orders that are not yet executed)
- Trailing Stop - Set a trailing Stop Loss Oil Trading Order
- Profit - View profit as either pips, term oil trading or deposit currency: depending on which option you favor.
- Commission, Taxes, Comments, are additional columns that you as a trader can chose to show or hide by ticking/unticking(Checking/Unchecking) them.
- Auto Arrange - Arrange oil 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 do not Show Grid, by Checking/Unchecking This MT5 option.
To Set Take Profit Oil Trade Order and Stop Loss Oil Order, T/P & S/L we use the third option, 'Modify or Delete', after clicking this the following panel will popup:
S/L is placed at 250 points - 25 pips
T/P 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 Oil Order and blue part marked copy as is for Take Profit Oil Trading Order as shown and illustrated on the screenshot below.
After that press the wide red button marked modify to modify.
Modify a Trade Order in MetaTrader 5 oil Platform
Order will then appear as below, note that S/L and T/P columns for our trade have now been updated as displayed below.
Take Profit Oil Trade Order and Stop Loss Oil Trading Order Levels Shown on Meta oil trader Platform
S/L & T/P Order Details Updated on the MetaTrader 4 Software Transaction Panel
If you were to close the above trade now, then trades will be updated as follows, to reflect that trade has been closed & the profit added to your MT5 account balance.
Oil Trading Account Balance Updated on the MT5 Software
Crude Oil Trading Account History
This is used to generate trade reports of crude oil trades that have been opened previously and have been closed. This is a record of all previous transactions.
Trade Reports Panel in MT5
On the above examples, there are currently no trade records on this transaction history recorded. There needs to be a couple of closed trade transactions for this record to show some entries. Let us see what happens when we close our open position of oil.
Oil Trading Closed Transaction Recorded in MT5 Crude Oil Account History Transaction Tab
From the above examples, once our open oil order was closed the transaction was then recorded as an entry within the 'Account History' of the MT5 Oil Trading Platform
MT5 Crude Oil Trading Account History Menu
Oil Trading Account History Menu
This menu is shown above & can be accessed by right-clicking anywhere within MT5 account history panel. The 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 at these as they are self explaining)
The following 6 options are Shown Below:
All History, Last 3 Months, Last Month or a Customized Period - all these options can be used to select the time period for which you as a trader want to generate the history of transactions.
Save as Report, Save as Detailed Report - This will generate a report of all trade transactions along with profit & loss calculation, draw-down calculation, profit factor calculation, the expected pay-off factor of the system you use along with the total number of profitable trade transactions, losing ones, the average loss per trade & the average profit per trade as shown below.
Generating Trade Reports of Your Oil Account in MT5 Trader Platform
Save as Report
Save as Detailed Report
Saving detailed Reports of Trading Transactions History on Meta Trading 4 Software
News Tab
This is the third option within the MT5 Terminal Window this panel is used to display a list of current news provided as a news feed by your oil broker. This is shown below:
Oil Trading News Stream in MetaTrader 5
Alerts Tab
This is used to set an alert for crude oil price when it reaches a pre determined level. For example you may be using a Bollinger bands, an indicator that forms an upper boundary & lower boundary and you want to set an alert for crude oil price when it gets to any one of these levels.
For examples, in our above examples we might want to put an alert for at 50 pips below the current oil price, we shall open the Alerts Tab, and right-click to activate the menu below:
How to Set Oil Trading Price Alerts on MetaTrader 5
On above panel, choose, Create and create one as follows:
Setting Oil Trading Price Alerts on MT5 Software
Put the sound as the alert action, oil symbol is the Oil Trading, set the condition to set is when bid crude oil price is less than(Bid<-<) & put the value for example at 1.34730, select the source of alert sound as above, (This is a sound file with extension Alert.wav), adjust the timeout to Ten seconds & iterations at maximum of 50, then choose OK to activate it.
Setting Oil Trading Price Alerts on MetaTrader 5
The above alert is then set and an alert will sound off once this crude oil price of Oil Trading 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 MT5 & practice opening This MT5 option to see how you can put a new alert or delete the same or modify it.
Mailbox Tab
Mailbox is used to view the messages which have been sent to you, to your Online oil trading platform as shown below:
Mail Box in MT5
Crude Oil Trading Signals Tab
Contains of a list of Oil Trading Signal Providers that traders can subscribe to through their MT5 Oil Trading Software, this is shown below, one can select any signal provider & click subscribe to get the trade signals.
MetaTrader 5 Signals Provided From MQL5 Oil Website Directly To The Trading Software
To learn more about MT5 MQL5 Signals, navigate to the MQL5 Oil Trading Signals Page.
CodeBase Tab
CodeBase contains a list or a library of Automated Oil Trading Expert Advisors that one can purchase from through their MT5 Oil Platform and then use this Automated Oil Expert-Advisors which are automated programs used to trade oil. These EA Oil Trading Bots are set up Automated Oil EAs on the traders MT5 Oil Trading Platform. To use these Automated Oil Expert Advisors (Expert-Advisors) one has to activate automated trading option within their platform a topic described in the next tutorial. The Code Base is shown Below:
MetaTrader 5 Automated Oil Expert-Advisors Provided From the MQL5 Oil Website Directly To The Trading Software
To learn more about MT5 MQL5 Automated Oil Trading Expert Advisors, navigate to the MQL5 Automated Oil Trading Expert Advisors Page.
Experts Tab
Shows a list of all Automated Oil Expert-Advisors that have been installed on the MT5 Software, For Example the image below shows two Expert Advisor Oil Robots are installed on this oil platform. This MT5 option also shows the trading specifications of each Expert-Advisor, these include trading parameters such as Take Profit Oil Trade Orders, Lot Size, Trailing Stop Levels & all the other custom trading parameters of the Expert Advisor that has been installed on the oil trading platform.
Automated Oil Expert-Advisors Installed on MetaTrader 5
Journal Tab
Tracks log in activities of MetaTrader 4 & from which Desktop PC computer & IP address of the Desktop PC computer used to login to the platform.
This is more on the technical stuff and traders do not use this one a lot and therefore we shall not explain it here but you can look at this at your own free time, on your MetaTrader 5 Crude Oil Trading Platform.
