Options Setting on Tools Menu in MetaTrader 4 Platform Software

Options setting button is used for a variety of numerous different tasks on the MetaTrader 4. Option button key is listed within tools menu in MetaTrader 4 like shown below. The Short-Cut key for this - Ctrl+O.

MetaTrader 4 Options Settings

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

Server

The server settings for MT4 are illustrated 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 tutorial purposes, the Server will show server of your broker & if it's a Demo or a Real Server. The account login and password will also be shown & displayed below and as a gold trader you as a Gold trader can change the password from this panel for practice demo xauusd accounts, however be careful if you're changing passwords details and particulars ensure to remember them.

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

Chart

The following are marked & labeled on Charts Options

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

If there is no open position, no level will be shown: if many trade positions have been opened, multiple lines will be displayed & shown for these zones.

Use Alt key to drag trade levels isn't a very suitable option to use, because if you place many orders you might change wrong order, therefore it's best to leave this as it's & not change it (Probability of this losing you funds is there so leave as is)

Show O H C L - Show Opening, High, Closing & Low Prices for every candle

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

Show period separators - a separator will draw a line where the daily chart starts and ends, e.g. 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 every day. (H4 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 & then next time you print it will be a colored print & not black & white.

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

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

Objects

These are:

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

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

Select object by single mouse click - select an indicator/line tool using single mouse click not double click, doubleclicking will display properties panel of technical indicator/line tool

Magnet Sensitivity - immediately draw a line 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 are intended without having to do much editing by aligning the lines to the nearest high or low point of price.

Trade

These are the default used by platform to figure out what xauusd instrument you buy and what amount you buy.

Symbol 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 & 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 example two pips, or zero pips if you as a trader want to specify to place trade positions at the exact level where you click.

One Click trading - Place and Open trade transactions buy/sell with one press. (don't 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 illustrated below:

following options are used:

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

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

Disable Experts when the profile has been changed - When you change profiles the Expert Advisors setting for allowing EA trading in new profile is de-activated until you allow and manually place an Expert-Advisor on this newly opened chart.

Allow Live Trading - Give Permission to Expert-Advisor to open trade transactions on the live market.

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

Allow DLL Imports - Dynamic Link Libraries, which are external, unless required it should be left unticked/unchecked. (External means that these libraries are referenced from a source external & outside your PC Desktop computer, so you should try to be extra careful with this setting)

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

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

Notifications

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

Check/Tick the option/choice, Enable Push Notifications, put your ID, press test & you should get and receive a test notification text message. You require to first sign-up for this ID, to do so, use the following window on your MetaTrader 4 and follow the instruction you'll get from this Notification panel window.

E-mail Settings

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

Lets use this company, which owns this web site, www.tradeforextrading.com, click and check the button labeled 'Enable' the respective mail settings parameters are shown below and the SMTP setting is 'SMTP: Port 465', Select & put these like shown below. Click test & check your inbox to confirm that you get the message.

Events

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

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

MQL5 Gold Expert-Advisor Bots Community

The MQ5 forum is a forum where traders can find others & Exchange EAs & Signals with each other. Traders have to sign up to this forum and can then access services from their platform directly. To get details and particulars on how to access & sign-up in this forum, sign in to your MetaTrader 4 software & navigate to panel shown below & follow the instruction guidelines.

MQL5.com Signals

Trading signal settings are provided by MQL5, MQL5 is the owner of MetaTrader Platform. The 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 signal service

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

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

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

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

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

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

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