Options Settings on Tools Menu on MT4 Software

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

MT4 Options Settings

These are shown below: the list of various buttons are displayed as tabs as displayed on the image below. As a trader to edit anything on this window just click on any of these button keys & then change settings.

Server

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

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

Stock Chart

following are marked on the Charts Options

Show Trade Levels - These lines will explain levels where orders were placed, it will also show levels where pending stock orders are placed. This will also show the Take Profit Stock Order & Stop Loss Stock Order levels. These trade levels 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 areas is not a very suitable option to use, because if you place many orders you may change wrong order, therefore it is best to leave this as it is & not change it (Probability of this one losing you money is there so leave as it is)

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

Show Ask Line - Show the Bid Stock 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 H charts the period separator will draw a vertical line when stocks market closes for each trading 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 and white.

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

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

Objects

These are:

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

Choose Object after creation - an stock 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 stock trading indicator/line tool using single mouse click not by double click, double clicking will show properties window of stock trading indicator/line tool

Magnet Sensitivity - immediately draw a line tool 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 that they are intended without much editing by aligning these lines to the nearest high or low of stock price.

Trade

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

Symbol by Default - Automatically set to the open stock 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 key and then choosing 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 stock 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 stock 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 is shown below:

The following options are used:

Enable Expert-Advisors - Allow for Stock Expert Advisor to be placed on stock chart for automated execution purposes

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

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

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

(Ask Manual Confirmation - no needs for this if you are using Stock Trading Expert-Advisors, leave this one as it's displayed without checking it.)

Allow DLL imports - Dynamic Link Libraries, which are external, unless this is required this should be left unticked. (External means that these libraries are referenced from a source external & outside your PC computer, so you should try to 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 EA that is in another place, away from your PC Desktop computer, (External means these Expert Advisor Stock Robots are referenced from an external source outside your PC computer, so be careful with this option)

Notifications

To receive notification to your phone from your MetaTrader 4 platform, use the notifications option shown below. Not that you require to have a registration ID, from Metaquotes to begin receiving these notifications sent to your mobile phone via text messages.

Check the option, Enable Push Notifications, put your ID, press test & 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 MetaTrader 4 and follow the instruction you'll get from this Notification window.

Email Settings

Most traders might not require this, but if you're one of those who require, the settings can be placed below.

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

Events

Events in MT4 are notifications, either sound notification, an email or SMS alert. The notifications can be set for different events such as timeout, connect, disconnect, news, Expert Advisor, EA confirmation, stocks 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 and then choosing the alert action that you want from drop-down list illustrated & shown below.

MQL5 Stocks Expert Advisor Bots Forum

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

MQL5 Trading Signals

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

Signal - First Subscribe to a stock trading signal

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

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

Use Trusted Execution Token( TET ) - Trusted execution token means you do not have to open your MT4 on your PC Desktop computer to have signals executed, Trusted Execution Token will allow signals to be executed even if your MT4 isn't started on your PC Desktop computer.

Copy Stop Loss Stock Order & Take Profit Stock Order Areas - Copy these levels from the stock signal provider automatically.

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

Stop if equity is less than - Set a percentage 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 stock signal makes a loss upto this point the stock 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 stock broker is one of those who requotes you. (Get an STP Broker with No-Requotes Policy to guarantee execution of your trades & avoid these slippages).