Options Settings on Tools Menu in MetaTrader 4 Platform

The options button key is used for a variety of many different tasks on the MT4. Option button key is listed within tools menu in the MetaTrader 4 as shown below. Short-cut keys for this - Ctrl+O.

MT4 Options Settings

These are shown below: list of various button keys are shown & displayed as tabs as shown on the image below. To edit anything on this panel click on any of these button keys and then change settings.

Server

The server settings for MT4 are shown below. A trader can edit from the tab, but most of the times it's not necessary as these options are automatically preset to the brokers' server parameters by the broker & there's no need to re-adjust them. However, just for guide purposes, Server will show the server of your broker & if it's a Demo or a Real Server. The account sign in and password will also be displayed below and as a trader you can change the password from this window for demo accounts, however be careful if you're changing passwords credentials make sure to remember them.

Other options are, enable proxy server, this isn't required, Keep personal data at startup, this is checked by default, that way the trading platform will automatically remember your log in and password so that you don't have to type & key them every time you sign in to your platform. Enable DDE server isn't required, Enable news is checked & you as a trader can use receive real time news data to your MetaTrader 4 on the News options, located in Terminal window panel, (Short cut Ctrl+T).

Oil Chart

The following are marked on the Charts Options

Show Trade Levels - These lines will show levels where orders were placed, it'll also show levels where pending orders are placed. This will also show the Take Profit Order & Stop-Loss Order levels. These trade zones lines appear as red broken lines marking these trade areas.

If there is no open trade, no level will be shown: if many trades have been placed, multiple lines will be displayed for these zones.

Use the Alt key to drag trade levels isn't a very suitable option to use, because if you place many orders you might change the wrong order, therefore it is best to leave this as it's & not change it (Probability of this one 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 the Bid Price, (no need for this)

Show period separators - a separator will draw a line where the daily chart starts and ends, for example if you trade with 5 minutes, 15 minute or 1 Hour Charts the period separator will draw a vertical line when the market closes for each day. (4 Hour separator is Weekly, for Daily & Weekly separator is Monthly).

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

Save deleted charts to reopen - Save all charts that are deleted & these can be accessed later at any time within.

Max bars in History, Max bars in Trading Chart - To save computer resources RAM, Processor Speed and Hard disk Space, these bars stored are limited to a specific number that's optimum, it is best to use the default number selected.

Objects

These are:

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

Choose Object after creation - an technical indicator/line tool can be selected by double-clicking on it once it is drawn, to facilitate editing of its properties.

Select object by single mouse click - select an oil trading indicator/line tool using single mouse click not by double click, double clicking will show properties window of technical indicator/line tool

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

Trade

These are default used by the platform to determine what oil instrument you buy & what amount you buy.

Symbol by Default - Automatically set to the open chart which you've 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 & then selecting the number of lots from the drop don list next to this option.

Deviation - Set the allowed number of pips that can move away when executing an order for examples 2 pips, or zero pips if you want to specify to place trades at the exact level where you click.

One Click oil trading - Place trades buy or sell with one click. (Do not use this option as it is prone to mistakes and no time to correct, this option can lose you money.)

Expert Advisors

Expert Advisors window panel is illustrated below:

The following options are used:

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

Disable experts when trading accounts have been changed - login to a different account deactivates Trading Expert-Advisors

Disable Experts when profile has been change - When you change profiles the EAs setting for allowing oil trading in new profile is deactivated until you allow and manually place an Oil Expert-Advisor on this new opened chart.

Allow Live Trading - Give Permission to EA to open trades on the live market.

(Ask Manual Confirmation - no needs for this if you are using EAs, leave this one as it's shown without checking it.)

Allow DLL imports - Dynamic Link Libraries, which are external, unless required this should be left unticked/unchecked. (External which means that these libraries are referenced from sources external and outside your Desktop PC computer, therefore be careful with this one)

Confirm DLL functions calls - Exercise manual permission for each & every function call, either allow it or disallow it depending on your trade parameters.

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

Notifications

To receive notification on your phone from your MT4 platform, use the notifications option shown below. Not that you're required to have a registration sign up ID, from MetaQuotes to begin receiving the notifications that get sent to your phone through text messages.

Check the 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 window panel on your MT4 & follow the instruction you'll get from this Notification window panel.

Email Settings

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

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

Events

Events in MT4 are notifications, either sound notification, an e mail or SMS alert. The notifications can be set for different events such as timeout, connect, disconnect, news, Expert Advisor, EA confirmation, crude price level alert and requote alert.

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

MQL5 EA Robots Forum

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

MQL5 Signals

Signal settings are provided by MQL5, MQL5 is the owner of MetaTrader Software. Signals service allows traders to adjust the following:

Signal - First Subscribe to a trading signal

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

Enable Real time trading signal subscription - allow real time transmission of signals to your platform.

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

Copy Stop Loss Order and TakeProfit Order Levels - Copy these levels from the signal provider automatically.

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

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

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