Options Setting Panel on Tools Menu on MT4 Software Platform

The options settings button is used for a variety of numerous different tasks on the MT4. The options button is listed within the tools menu in the MT4 just as is illustrated below. The Short-Cut keys for this - Ctrl+O.

MetaTrader 4 Options Settings

These are illustrated below: the listing of different buttons are illustrated & displayed as tabs such as shown & displayed on the screen shot below. As a trader to edit anything on this panel just click on any of these buttons & then change the settings.

Server

The server settings for MT4 are illustrated below. One can edit from the tab, but most of the time it is not necessary as these options are automatically preset to the brokers' server parameters by the broker and there is no need for you to re-adjust them. However, just for guide purposes, the Server will explain the server of your online broker and if it's a Demo Practice or a Real Server. The account sign in and password will also be illustrated & displayed below and as a xauusd gold trader you as a trader can change your password from this window panel for demo practice accounts, however be careful if you're changing passwords details ensure to remember them.

Other options are, enable proxy server, this isn't required, Keep personal info at startup, this is checked by default, that way the software will automatically remember your sign in and password so that you don't have to type them every time you login to your software. Enable DDE server is not required, Enable news is checked and you as a gold trader can use to receive real time news data reports to your MT4 on the News options, located in Terminal window, (Shortcut Key Ctrl+T).

Trading Chart

following are marked and tagged on Charts Options

Show Trade Levels - These lines will explain the levels where the orders were placed, it will also explain levels where pending orders are placed. This will also show the Take Profit Order and SL Order levels. These trade levels lines appear as red broken lines marking these areas.

If there is no open position, no level will be put to display: if many trade positions have been opened, multiple lines will be displayed and illustrated for these zones.

Use the Alt key to drag trade areas isn't a very suitable option to use, because if you place many orders you might change wrong order, henceforth it's better to leave this as it's and not change it (Probability of this losing you money is there so leave as it is)

Show OHCL - Show Opening, High, Closing & Low Prices for every candle

Show Ask Line - Show Bid Price, (no need for this)

Show period separators - a separator will draw a line where the day chart starts & ends, for example if you trade with five minutes, 15 minute or 1 H charts the period separator will draw a vertical line when the market closes for each day. (4H separator is Weekly, for Daily & Weekly separator is Monthly).

Color Print - To print in color and not black white which is set by default, use this option and then the next time you print it'll be a colored print & not black and white.

Save the deleted charts to reopen - Save all charts which are deleted and these can be accessed later at any other time within the software.

Maximum bars in History, Maximum bars in Chart - To save the desktop pc computer resources RAM, Processor Speed and Hard disk Space, these bars stored are limited only to a specified number that is optimum, it's better to use the default number selected.

Objects

These are:

Show properties after creation - immediately display indicator/line tool settings after it is placed on chart to facilitate editing of their properties.

Choose and Select Object after creation - an technical indicator/line tool can be selected by double-clicking on it once it's drawn, to facilitate the editing of its property.

Select object by single mouse click - choose a technical indicator/line tool using single mouse click not by double clicking, doubleclicking will explain the properties panel window of technical indicator/line tool

Magnet Sensitivity - immediately draw a line indicator to the nearest low or high that's within 10 pixels of the point selected. This allows for lines drawn to more or less be placed on the levels they're intended without having to do much editing by aligning the lines to the nearest high or low of price.

Trade

These are the default used by the platform to identify what instrument you buy and what amount you buy.

Quote by Default - Automatically set to the open the chart which you have open

Size by default - Automatically use last lot size, or set every trade to be default of 1 lot or 2 lots or 1 micro lot or 2 micro lots by select the default button key & then selecting the No. of lots from the drop don list next to this option.

Deviation - Set the allowed amount of pips that can move away when executing an order e.g. two pips, or zero pips if you want to specify to place trade transactions at the exact level where you click.

One Click trading - Place trade transactions buy/sell with one press. (don't use this option as it is prone to mistakes & no time to correct, this option can lose you money.)

EAs

EAs window is illustrated below:

The following options are used:

Enable Expert Advisors - Allow for EA to be placed on chart for automated trading execution purposes

Disable experts when accounts have been changed - log in to a different account deactivates Expert Advisors

Disable Experts when the profile has been changed - When you change profiles the Expert Advisors setting for allowing automated EA(Expert Advisor) trading on new profile is deactivated until you allow & manually place an Automated EA(Expert Advisor) on this new opened chart.

Allow Live Trade - Give Permission to EA(Expert Advisor) to open positions on the live market.

(Ask Manual Confirmation - no needs for this if you are using Automated Expert Advisors, leave this as it is shown and displayed without checking it.)

Allow DLL Imports - Dynamic Link Libraries, which are external, unless its required this should be left unticked. (External means these are resources(libraries) that are referenced from external sources outside your Desktop computer, therefore you as a trader should be more careful with this one)

Confirm the DLL functions calls - Exercise manual permission for every function call, either allow or disallow it depending on your set of parameters.

Allow External Experts imports - This is used to allow your Expert Advisor to reference some info from another Expert Advisor that's in another place, away from your PC computer, (External means these EA Robots are referenced from external sources outside your Desktop computer, so you need to be very careful with this option)

Notifications

To receive notification to your phone from your MetaTrader 4 software, use the notifications option shown below. Note that you require to have a signup registration ID, from Meta Quotes to start receiving these notifications sent to your mobile phone using text messages.

Check the choice/option, Enable Push Notifications, put your ID, press test and you should get a test notification text message. You require to first sign up for this ID, to do so, use the following panel window on your MT4 & follow the instruction you will get from this Notification panel window.

Email Settings

Most traders might not need this, but if you are one of the ones that require, the setting can be placed below.

Lets use this company, that owns this websiteesite, www.tradegoldtrading.com, click and check button labeled "Enable" the respective mail settings are shown below and the SMTP setting is "SMTP: Port 465", Select and Choose & put these as illustrated below. Click test and check your e-mail inbox to confirm that you receive the message.

Events

Events on MT4 are notifications, either sound notification, an E-Mail or SMS alert. The notifications can be set for different types of events such as for timeout, connect, disconnect, news, Expert Advisor, EA confirmation, price level alert and re quote alert.

Various types of alert actions which can be set for a event can be selected by double-clicking on event action, pressing the drop-down arrow & then selecting the alert action you want from the dropdown list shown below.

MQL5 Expert Advisor(EA) Robots Community

The MQL5 community is a forum where traders can find others and Exchange EAs and Signals with each other. Traders have to sign-up to this community forum and can then access services from their platform directly. To get details on how to access and register in this forum forum, login to your MT4 software & navigate to window panel illustrated below and follow the guidelines.

MQL5 Signals

Trading signal settings are provided by MQ5, MQL5.com is the owner of MetaTrader Software. The Signals service allows the Gold traders to adjust the following:

Signal - First Subscribe to a signal

Agree to the Terms - Agree to the terms of using the signal service

Enable Real-Time tading signal subscription - allow realtime transmission of signals to your software.

Use the Trusted Execution Token( TET ) - Trusted execution token means you do not have to open your MetaTrader 4 in your PC computer to have signals executed, Trusted Execution Token will allow signals to be executed even if your MetaTrader 4 is not started on your PC computer.

Copy Stop Loss Order and Take-Profit Order Areas - Copy these levels from the signal service provider automatically/mechanically.

Use no more than - Option for money management, set an amount of 10% for aggressive traders & 5% for non aggressive traders, that way you limit your risk capital in your account.

Stop trading if the equity is less than - Set a % to calculate this level for example if your capital is $10,000 then use 70 %, that's $7,000 and set this amount: if the trading signal makes a loss upto this point the trading signal execution is stopped.

Deviation/Slippage - you as a trader can set a value like 2 so as to give some flexibility in case of slippage of a few pips here and there when executing trade transactions with your broker, especially if your online broker is one of those who requotes you. (Get an STP Broker with No-Requotes Execution Policy to guarantee execution of your trades and avoid these slippages).

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