MetaTrader 4 Terminal Window - MetaTrader 4 Transactions Tabs Panel

The Terminal Window component of the MetaTrader 4 Platform Software is primarily utilized for oversight of one's account balance, available equity, and trade summaries. While supplementary functions can be configured within this window, they are generally not in common use among traders.

Below is the Terminal Panel Window displayed on the online Forex platform MT4:

Terminal Window - MetaTrader 4 Online Forex Software

The Terminal Panel has the Following Sub-Menu or Tabs:

Trade
Account History
News
Alerts
Mailbox
Signals
CodeBase
Experts
Journal

Let's take a look at each one separately:

Trade Tab

If you start a Forex trade on the MetaTrader 4 program, the details of that trade will be shown on the Trade Tab. For example, if you sell EURUSD, the Trade Tab will show all the details of that sell order.

Trade Tab - Platform Trading Windows

Based on the illustration provided, we have initiated a Sell trade on EURUSD: the specific details and parameters of this transaction are detailed above in the column labeled "details and particulars."

Order, Time, Type, Size, Quote, Price, S/L,T/P, Commission, Swap, Profit

Order, - The trade number

Time, - The Time

Order Type: Buy or Sell Selection

Size means the trade position size, like 1 standard lot.

Symbol, - Currency Symbol, EURUSD

Open Price - 1.35185

S/L, - Stop Loss

T/P, - Take-Profit

Current Price

Commission: No fees charged by this broker.

Swap, - no swap cost right now, because the trade did not continue until the next day.

Profit - $51

After opening a trade, the most common thing to do is set Stop Loss and Take Profit, which are shortened to S/L and T/P. Once you do this, the main thing to focus on is watching your trades in the software. The stop loss will close your trade with a small loss, while the take profit will close it when you're making a decent profit.

To establish the Stop Loss (S/L) and Take Profit (T/P) levels, one must right-click anywhere within the designated Trade Tab area, which is shaded grey, causing a subsequent menu to appear. This menu facilitates modifications to any currently active order.

This will pop-up as:

Modify a Order on the MetaTrader 4 Platform

The Menu has The following Options:

New Order - Put a new trade
Close - Can close this trade transaction at ruling price
Modify or Delete - Can Modify the S/L & T/P, (order can't be deleted, delete is for pending orders which are not yet executed)
Trailing Stop - Set & Place a trailing Stop Loss
Profit - View profit as either pips, term currency or deposit currency: depending on which option you favor.
Commission, Taxes, Comments, are additional columns which you as a forex trader can choose and select to show or hide by ticking/unticking(Checking/Unchecking) them.
Auto Arrange - Arrange Currencies according to the alphabet, time of open, most lucrative according to sorting by choosing a column of arranging priority, for example "Time" column.
Grid - Show Grid or do not Show Grid, by Ticking or Unchecking/Unticking this option.

To set Take Profit and Stop Loss, use the Modify or Delete option. A panel will appear.

SL Order is set at 250 points - 25 pips

Take Profit is set at 500 points - 50 pips

You can configure two points, such as 250 and 500, in the section labeled "Points." The red-marked area is for Stop Loss, and the blue-tagged section is for Take-Profit, as shown in the screenshot below.

After that click the wide red button tool mark point ed modify to modify.

Modify a Order in the MT4

Order will then be shown as below, note that the S/L and T/P columns for our trade have now been updated just as displayed and shown below.

Take Profit and Stop Loss Levels Shown on Meta Trader Platform

Updates to S/L and T/P Order Specifications within the Meta 4 Trader Transaction Window

Should you decide to close the aforementioned trade transaction at this juncture, the trade positions would be updated, as illustrated, to confirm the transaction's termination and reflect the realized profit being added to your account's total equity.

Account Balance Updated on the MetaTrader 4 Platform

Account History

This creates reports about completed buying and selling actions that were started earlier and are now finished. It's a list of all the past buying and selling.

Trade Reports Window on the MT4 Software

There is currently no record of this trade history on the aforementioned image. For this record to display any entries, a few transactions must be completed. When we close our open position in the EURUSD forex pair, let's see what happens.

EURUSD Closed Transaction Recorded on MT4 Account History Trade Tab

From the above illustrations, once our open EURUSD order was closed the transaction was then recorded as an entry within "Account History" of the MT4 Software/Platform

MT4 Account History Menu

Trading Account History Menu

The menu shown above can be found by right-clicking anywhere in the trading account history section. The last four (commissions, Taxes, comments, Auto Arrange, and Grid) mainly help with how the software looks but aren't for trading, so we won't discuss them since they're clear on their own.

The following 6 options are Shown Below:

You possess the capability to select the timeframe for which you desire a record of your trading activities - options include All History, Last 3 Months, Last Month, or a Custom Period - all available for generating your transaction history.

Save as Report, Save as Detailed Report - These options generate a comprehensive report detailing every transaction, including calculations for profit and loss, drawdown percentage, the profit factor metric, the expected pay-off factor derived from your system, along with the total count of both profitable and losing trades, as well as the average profit per trade and the average loss per trade, presented as shown below.

Generating Trade Reports of Your Account on MT4 Trader Platform

Save as Report

Save as a Detailed Report

Saving Detailed Transaction History Reports on MetaTrader 4 Software

News Tab

This is the third option within the MetaTrader 4 Terminal Panel this window is used to show a listing of ruling news provided as a news feed by your broker. This is displayed:

FX News Stream on MT4 Online Forex Software

Alerts Tab

This is used to set an alert for the price when it reaches a specific level that has been decided in advance. For example, you might use Bollinger bands, an indicator that makes an upper and lower boundary, and you want an alert for the price when it touches either of these.

For example, in our above example we might want to put an alert for 50 pips below ruling market price, we shall open the Alerts Tab, & right click to activate the menu:

How to Set Price Alerts in the MT4

On above panel, select, Create & create one as follows:

Placing Price Alerts on MetaTrader 4 Software

Put the sound as the alert action, currency symbol is the EURUSD, set the condition to set is when the bid price is less than(Bid<-<) & put the value e.g. at 1.34730, choose the source of alert sound as above, (This is a sound file with the extension Alert.wav), adjust the timeout to Ten seconds and iterations at maximum of 50, then choose OK to activate it.

Placing Price Alerts in MT4

An alert is set to notify you when the EURUSD price drops below a specified level.

Right-clicking on an alert will reveal a context menu offering options to adjust its parameters, remove it entirely, or deactivate it. You can download MetaTrader 4 to experiment with opening this feature to learn how to set up, delete, or alter existing alerts.

Mailbox Tab

Mailbox is used to view the messages which have been sent to you, to your Online Forex platform just as is shown:

Mail Box in the MT4

Trading Signals Tab

Below is a list of Signal Providers that traders can subscribe to via their MetaTrader 4 Platform. You can select any signal service provider and click subscribe to receive Forex signals.

Receipt of Trading Signals for MetaTrader 4 Directly from the MQL5 Website Interface into the Trading Software

To learn more about MetaTrader 4 MQL5 Signals, navigate to MQL5 Signals Page.

Code Base Tab

Code-Base carries a list or a library of EAs that one should purchase from through their MT4 platform software and then use this expert Advisors(EAs) which are automated packages used to trade currencies. these EA Robots/Bots are installation EAs on the FX buyers MT4 software program. to apply these expert Advisors (EAs) a dealer has to activate automated trade choice inside their platform a topic described within the next tutorial. The Code-Base is displayed and shown under:

Automated Expert Advisors (EAs) for MT4, Sourced Directly from the MQL5 Website to the Trading Terminal

For supplementary details pertaining to MetaTrader 4 MQL5 Expert Advisors, navigate to the MQL5 Expert Advisors Resource Center.

Experts Tab

Shows all the Expert Advisors that have been added to the MetaTrader 4 Platform/Software: for example, the picture below shows that two EA Bots are set up on this software. This also shows the trading details of each Expert Advisor, like things such as Take-Profits, Lot Size, Trailing Stop Levels, and all the other special settings of the Expert Advisor that was added to the Forex platform.

Automated FX Expert Advisors Installed on MT4

Journal Tab

It logs MT4 logins, including the PC and IP used.

This is more on the technical stuff & traders do not use this one a lot and thence we shall not describe it here but you can look at this on your own free time, on your MetaTrader 4 Platform.

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