Options Settings in Tools Menu in MetaTrader 5 Software/Platform

Options setting button is used for a variety of numerous different tasks on the MT5. Options button is listed within the tools menu in MT5 just as is displayed below. Short-cut key for this - Ctrl+O.

MT5 Options Settings

These are shown below: the list of various MT5 buttons are illustrated as tabs just as shown on the image screen-shot below. As a trader to edit anything on this window just click on any of these MT5 buttons & then change the settings.

Server

The server settings for MetaTrader 5 are shown below. One 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 & there is no need for you to re-adjust them. However, just for guide purposes, the Server will display server of your broker & if it's a Demo Practice or a Real Server. The MT5 account sign in and password will also be illustrated & displayed below and as a btcusd trader you can change the password from this panel for demo accounts, however be careful if you are changing passwords ensure to remember them.

Other options are, enable proxy server, this is not required, Keep personal information at start-up, this is checked by default, that way the software will automatically remember your login & password so that as you do not have to type them & key them in every time you login to your platform. Enable DDE server is not required, Enable the news is ticked & you can receive real time news reports to your MT5 on News options, located in the Terminal window panel, (Short cut Keys Ctrl+T).

Bitcoin Trading Chart

following are marked and tagged on Charts Options

Show Trade Levels - These lines will show and display levels where the orders were placed, it also will show levels where the pending orders are set. This also will show the TP Bitcoin Order & Stop-Loss Bitcoin Order areas. These trade zones lines are shown as red broken lines marking these areas.

If there is no open trade, no level will be put to display: if many trade positions have been opened, multiple lines will be shown for these technical levels.

Use Alt key to drag trade areas is not a very suitable option to use, because if you place many orders you may change the wrong order, therefore it is best to leave this as it's and not change it (Probability of this one losing you money is there so leave as is)

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

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

Show period separators - a separator will draw a line where the daily chart starts & ends, for example if you trade with 5 minutes, 15 min or 1 Hour charts the period separator will draw a vertical line when btcusd market closes for each day. (H4 separator is Weekly, for Daily and Weekly separator is Monthly).

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

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

Maximum bars in History, Maximum bars on Chart - To save computer resources RAM, Processor Speed ==22==and Hard disk Space, these bars stored are limited only to a specified number that is optimum ideal, it is best to use the 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 setting.

Select Object after creation - a technical indicator/line tool can be selected by doubleclicking on it once it's plotted, to facilitate and enable editing of its properties/parameters.

Choose and Select object by single mouse click - choose a technical indicator/line tool using single mouse press not double-clicking, doubleclicking will show properties window of technical indicator/line tool

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 are intended without having to do much editing by aligning the lines to the nearest high or low of bitcoin price.

Trade

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

Symbol/Quote by Default - Automatically set to the open the chart which you have open

Size by default - Automatically use the last lot size, or set every trade to be default 1 lot or 2 lots or 1 micro lot or 2 micro lots by select the default button key and 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 e.g. 2 pips, or zero pips if you want to specify to place trade positions at the exact level where you press.

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

Automated Bitcoin Trading EAs

Automated EAs window is shown below:

following options are used:

Enable Automated BTCUSD ==22==Expert--AdvisorsEAs - Allow for Automated EA to be placed on chart for automated execution purposes

Disable experts when accounts have been changed - login to a different MT5 account deactivates Automated Bitcoin Trading Expert Advisors

Disable Experts when the profile has been changed - When you change profiles the Automated EAs setting for allowing EA trading on new profile is de-activated until you allow & manually place an EA on this new opened chart.

Allow Live Trade - Give Permission to Expert Advisor(EA) to open trade transactions on the live bitcoin market.

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

Allow D.L.L. Imports - Dynamic Link Library, that are external, unless required this should be left unticked/unchecked. (External means that the libraries are referenced from external sources outside your Desktop computer, so you need to be very careful with this setting)

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

Allow External Experts imports - This is used to allow your ==22==Expert--AdvisorEA to reference some data from another Expert Advisor that's in another place, away from your desktop computer PC, (External means these Expert Advisor Bitcoin Bots are referenced from external sources outside your ==22==PC computer, so be careful on this setting)

Notifications

To receive notification on your phone from your MetaTrader 5 platform software, use notifications option illustrated and shown below. Not that ==22==you--areyou're required to have a sign up ID, from Meta Quotes Corp. To begin receiving notifications sent to your mobile through text/sms messages.

Check the choice/option, Enable Push Notifications, put your ID, press test and 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 MT5 & follow the instruction you will get from this Notification panel window.

E-mail Settings

Most traders might not really need this, but if you are one of the ones that require, the parameters can be set below.

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

Events

Events in MT5 are notifications, either sound notification, an E-Mail or SMS alert. The notifications can be placed for different events such as time out, connect, disconnect, news, Automated Bitcoin Trading Expert Advisor, EA confirmation, bitcoin price level alert & requote alert.

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

MQL5 BTCUSD EA Robots Forum

The MQL5 forum is a community where traders can find others and Exchange Automated EAs and Bitcoin Signals with each other. Bitcoin traders have to sign-up to this community forum & can then access services from their software directly. To get details on how to access and sign up in this forum forum, sign in to your MT5 software ==22==& navigate to the panel window shown below & follow the instruction guidelines.

MQL5 Trading Signals

The signal settings are provided by MQL5, MQL5 is the creator of MetaTrader Platforms. Signal service allows traders to adjust the following:

Signal - First Subscribe to a signal

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

Enable Realtime tading signal subscription - allow real time transmission of signals to your software.

Use Trusted Execution Token(TET) - Trusted execution token means you don't have to open your MT5 on your ==22==PC computer to have signals executed, Trusted Execution Token will allow signals to be executed even if your MetaTrader 5 is not started on your ==22==PC computer.

Copy Stop Loss Bitcoin Order & TP Bitcoin Order Areas - Copy these levels from the signal service provider mechanically/automatically.

Use no more than - Option for btcusd equity 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 trading if the equity is less than - Set a % to calculate this level e.g. if your capital is $10,000 then use 70 %, that's $7,000 and set this amount: if the trading signal makes a loss up to this point the 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 and there when executing trade transactions with your broker, especially if your ==22==online broker is one of those that re-quotes you. (Get an STP Online Broker with No Requotes Policy to guarantee execution of your trades and avoid these slippages).

Learn More Lessons and Tutorials and Courses:

Trade Bitcoin Trading