Options Setting Panel on Tools Menu on MT4 Software Platform

The options button handles many tasks in MT4. Find it in the tools menu, as shown below. Use Ctrl+O for quick access.

MetaTrader 4 Options Settings

These are illustrated: the listing of different buttons are illustrated & displayed as tabs such as shown & shown 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 configuration for the MT4 server is detailed underneath. While modification is possible via a specific tab, it's usually unnecessary: brokers typically auto-configure these settings to match their server specifications, requiring no manual adjustment from the user. Nevertheless, for informational purposes, the 'Server' section reveals your online broker's server and indicates whether it's designated for Demo Practice or Live Trading. Account login credentials and the password will also be shown below: as a trader specializing in XAUUSD, you possess the ability to alter your password within this window panel for demo practice accounts, though caution is advised to memorize any changes made.

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 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

The subsequent elements are observable and can be annotated on the Chart settings menu:

Show Trade Levels feature displays key areas where orders have been placed or are pending execution, along with Take-Profit and Stop-Loss levels. These trade levels appear on charts as broken red lines marking respective areas.

With no open trades, no lines appear on the chart. Open several positions, and multiple lines show up to mark those areas.

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 the prices when each candle Opened, the Highest, Lowest and Closed

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

Turn on period separators. They draw a line at the start and end of each day chart. For instance, on 5-minute, 15-minute, or 1-hour charts, the separator adds a vertical line at daily market close. The 4-hour separator marks weeks. Daily and weekly ones mark months.

Monochrome Print - To opt for color printing instead of the default black and white setting, activate this specific setting: subsequent printouts will then be rendered in color, abandoning monochrome output.

Save deleted charts to open again - Keep any charts you delete, so you can find them later in the software anytime you want.

Maximum bars in history and maximum bars in chart - To conserve the resources of your desktop PC, including RAM, processing speed, and hard disk space, these bars are limited to a specific optimal number. As a trader, it is advisable to stick with the default limit set.

Objects

These are:

Show properties after creation. Display settings right after placing the indicator or line on the chart. This helps edit them easily.

After drawing a technical indicator or line, select it by double-clicking. This lets you edit its properties easily.

To select objects, use a single mouse click rather than double-clicking. Double-clicking opens the properties panel for technical indicators or line tools.

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 figures are the default parameters utilized by the software to ascertain which financial instrument is being traded and the quantity involved.

Default Quotation Setting - Configured to automatically load the chart that was most recently active.

Set size by default to use the last lot amount. Or pick a standard like 1 lot or 2 lots. Choose 1 micro lot or 2 micro lots. Click the default button. Select the number from the dropdown list.

Deviation: Determine the maximum allowable deviation in pips beyond the requested price for order execution: for instance, setting it to 2 pips, or setting it to zero pips if you strictly require trades to execute only at the exact price level clicked.

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:

Activate Expert Advisors - Authorize the deployment of EAs onto the chart to facilitate automated trade execution.

Deactivate Experts Upon Account Switch - Logging into a new trading account will automatically suspend all active Expert Advisors.

Disable Expert Advisors when you switch profiles - Changing profiles disables the setting for automated EA (Expert Advisor) trading on the newly opened profile until you manually activate and place an Automated EA (Expert Advisor) on the chart.

Enable Live Trading - Granting authorization to the Expert Advisor (EA) to initiate positions in the live market environment.

(Request Manual Confirmation - you don't need this if you use automated trading programs: just leave it as it is without making any changes.)

Enable DLL Imports - External Dynamic Link Libraries should remain unchecked unless necessary. External indicates resources (libraries) sourced from outside your computer, so as a trader, you should exercise caution regarding this option.

Make sure the DLL functions are being called - Manually give permission for each function call, allowing or denying it based on the parameters you have set.

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 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 get notifications on your phone from your MetaTrader 4 program, use the notifications option that is shown below. You need a registration ID from Meta Quotes to start getting these notifications on your phone through text messages.

To set up push notifications, enable the Push Notifications option, input your ID, and press the test button to receive a test message. Before proceeding, ensure you have signed up for this ID. Access the setup panel on your MT4 platform and follow the instructions provided in the Notification window.

Email Settings

While most traders may find this unnecessary, those who require it can configure the settings as shown 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 in MT4 are alerts that can be sounds, emails, or SMS messages. These alerts can be set for different events like timeouts, connections, disconnections, news, Expert Advisors, EA confirmations, price level alerts, and requote alerts.

To pick alert types for an event, double-click the event action. Or click the drop-down arrow. Then choose the option from the list that appears.

MQL5 Expert Advisor(EA) Robots Community

The MQL5 community is a forum for traders to connect and swap EAs and signals. Sign up to take part. Reach services from your platform. For access and registration info, log into MT4. Go to the window below and follow the steps.

MQL5 Signals

MQ5 provides trading signal settings, and MQL5.com owns the MetaTrader software. The Signals service lets gold traders adjust the following settings:

Signals: Start by Subscribing to One

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

Activate Subscription for Live Trading Signals - This permits the immediate delivery of signals directly to your trading software.

Use the Trusted Execution Token( T.E.T. ) - Trusted execution token means you do not have to open your MetaTrader 4 in your PC computer to have copy signals executed, Trusted Execution Token will allow the copy 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 - Copier 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 your trades if your money goes below a certain point: pick a percentage to figure this out. For example, if you have $10,000, use 70%, which is $7,000. If the trading signal loses money up to this point, stop the trading signal.

Deviation/Slippage - you 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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