Options Settings on Tools Menu on MetaTrader 4 Software/Platform

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

MetaTrader 4 Options Settings

These are illustrated below: the listing of different buttons are shown as tabs like as displayed on the screenshot below. As a trader to edit anything on this panel just click on any of these button keys & then change the settings.

Server

The server settings for MetaTrader 4 are illustrated below. One can edit from the tab, but most times it is not necessary as these options are automatically preset to the brokers' server settings by the trading broker and there is no need for you to re-adjust them. However, just for guide purposes, the Server will display server of your broker and if it is a Practice Demo or a Real Server. The account login and password will also be illustrated & displayed below and as a bitcoin trader you as a trader can change your password from this panel for practice demo accounts, however be careful if you're changing passwords details & particulars make sure to remember them.

Other options are, enable proxy server, this is not required, Keep personal info at start up, this is ticked and checked by default, that way the software will automatically remember your login & password so that as you do not have to type and key them every time you sign in to your platform. Enable DDE server is not required, Enable the news is ticked & you as a btc usd trader can use to receive real time news data to your MT4 on the News options, located in the Terminal window, (Short cut Ctrl+T).

BTCUSD Chart

following are marked on the Charts Options

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

If there's no open position, no level will be illustrated: if many trade positions have been opened, multiple lines will be highlighted for these 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, henceforth it is better to leave this as it's and not change it (Probability of this one losing you funds is there so leave as it is)

Show OHCL - Show Opening, High, Closing & 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 day chart starts and ends, e.g. if you trade with 5 minutes, 15 minute or 1 H charts the period separator will draw a vertical line when btcusd trading market closes for each day. (4 Hour separator is Weekly, for Daily & Weekly separator is Monthly).

Colour Print - To print in color & not black white which is set by default, use this option and 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 & these can be accessed later at any other time within the software.

Max bars in History, Maximum bars on Chart - To save computer resources RAM, Processor Speed & Hard disk Space, the bars stored are limited to a specific number that is ideal optimum, it's better 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 and enable the editing of their parameters settings.

Select Object after creation - a technical indicator/line tool can be selected by double clicking on it once it is plotted, to facilitate and enable the editing of its parameters.

Select and Choose object by single mouse click - choose a technical indicator/line tool using single mouse click not double-clicking, 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 drawn to be placed on the levels they're intended without having doing much editing of aligning the lines to the nearest high or low of bitcoin price.

Trade

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

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 choose the default button key and then selecting the No. of lots from the drop don list next to this option.

Deviation - Set the allowed number of pips which 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 transactions at the exact level where you click.

One Press trading - Open trades buy/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.)

Expert Advisors

EAs window panel is illustrated below:

the following options are used:

Enable EAs - Allow for EA(Expert Advisor) to be placed on the chart for automated execution purposes

Disable experts when accounts have been changed - sign in to a different account deactivates EAs

Disable Experts when the profile has been changed - When you change profiles the EAs setting for allowing auutomated trading on the new profile is de-activated until you allow and manually set an EA(Expert Advisor) on this new opened chart.

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

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

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

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

Allow External Experts imports - This option is used to allow your EA to reference some external data from another EA that's in another place, away from your PC computer, (External means these Automated EA Bitcoin Bots are referenced from external sources outside your Desktop computer, so be careful on this option)

Notifications

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

Tick the choice/option, Enable Push Notifications, put your ID, press test and you should receive a test notification text message. You require to first register and sign up for this ID, to do so, use the following window on your MT4 & 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 which require, the settings can be placed below.

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

Events

Events on MT4 are notifications, either sound notification, an E-Mail or SMS alert. The notifications can be placed for various different types of events such as time-out, connect, disconnect, news, EA, EA confirmation, bitcoin price level alert and re quote alert.

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

MQL5 Bitcoin Trading Expert Advisor Robots Community

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

MQL5.com Signals

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

Signal - First Subscribe to a trading signal

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

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

Use the Trusted Execution Token( TET ) - Trusted execution token means you do not have to open your MetaTrader 4 on your computer to have signals executed, Trusted Execution Token will allow signals to be executed even if your MT4 is not started in your Desktop computer PC.

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

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

Stop if the equity is less than - Set a percentage to calculate this level e.g. 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 as a BTCUSD trader 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 crypto broker is one of those who re-quotes you. (Get an STP Broker with No-Re quotes Policy to guarantee execution of your trades & avoid these slippages).

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