Gold MT4 Transactions Tabs Panel
The MetaTrader 4 Platform Terminal Panel is mainly used for monitoring your xauusd trading balance, account equity and transaction reports mainly. There are other operations that can be set up on this panel but most of these are not oftenly used.
On the online xauusd trading platform MT4 the Terminal Panel is shown below:
Terminal Window - MetaTrader 4 Online Platform
The Terminal Window has the Following Sub Menu or Tabs:
- Trade
- Account History
- News
- Alerts
- Mailbox
- Trade Signals
- Code Base
- Experts
- Journal
Let us look at each on its own:
Trade Tab
If you open a XAUUSD on the MetaTrader 4 software, the transaction will then be recorded here on this Trade Tab. For Example if you sell The XAUUSD, open a sell xauusd trade order the following details will be recorded on the Trade Tab panel.
Trade Tab - Platform Trading Windows
From the above examples: trade details are illustrated above under column details marked
Order, Time, Type, Size, Symbol, Price, S/L,T/P, Commission, Swap, Profit
Order, - The trade number
Time, - The Time
Type, - The Type of order, Sell or Buy
Size, - Size of trade, 1 Standard Lot
Quote, - MetaTrader 4 Symbol
Open Price - 1.35185
S/L, - Stop Loss Order
T/P, - Take Profit Order
Current Price
Commission, - Commission (no commission charged by this broker)
Swap, - no swap fee charged as per now, the trade has not stayed overnight
Profit - $51 dollars
Most common operation after opening a trade is to place the StopLoss Order & Take-Profit Order, These are abbreviated as S/L and T/P. There is likely no other operation to setup after this only to monitor the trades within the trading platform workspace after setting these two levels, stop loss will close your trading order with a minimum loss & the take profit will close-out your trade at a reasonable profit.
To place this S/L & T/P, we shall RightClick anywhere within this Trade Tab, the part shaded grey, following menu will pop and appear, this menu is used to make changes to the current order that is open.
This will appear as:
Modify a Order on the MT4 Software
Menu has The following Options:
- New Order - Put a new transaction
- Close - Can close this transaction at current trading price
- Modify or Delete - Can Modify the S/L and T/P, (order cannot be deleted, delete is for pending xauusd orders that aren't yet executed)
- Trailing Stop - Set a trailing Stop Loss Order
- Profit - View profit as either pips or in dollars: depending on which option you favor.
- Commission, Taxes, Comments, are additional columns which you as a trader can chose to show or hide by ticking/unticking(Checking/Unchecking) them.
- Auto Arrange - Arrange xauusd charts according to alphabetical order, time of open, most profitable according to sorting by selecting a column of arranging priority, for examples 'Time' column.
- Grid - Show Grid or don't Show Grid, by Checking or Unchecking this option.
To Set Take Profit Order & SL Order, T/P & S/L we use the third option, 'Modify or Delete', after clicking this the following panel will popup:
S/L is set at 250 points - 25 pips
T/P is set at 500 points - 50 pips
You can set this two points by selecting 250 and 500 on the part labeled points, red part marked copy is for Stop Loss Order and blue part marked copy as is for Take Profit Order as shown on the screen-shot below.
After that press the wide red button marked modify to modify.
Modify a Order in MT4
Order will then appear as below, note that S/L and T/P columns for our trade have been updated now as illustrated & displayed below.
Take Profit Order & SL Order Zones Shown on Meta Trader Platform
S/L & T/P Order Details Updated on Meta 4 trader Platform Transaction Window Panel
If you were to close the above transaction now, then the transactions will be updated as follows, to reflect that the transaction has been closed & the profit added to your account equity balance.
XAUUSD Account Balance Updated on the MT4 Software
Account History
This is used to generate trade reports of trades that have been opened previously & have been closed. This is a record of all the prior transactions.
Trade Reports Window on MT4
On the above example, there are currently no trade records on this trade history recorded. There needs to be a couple of closed transactions for this record to show some entries.
MetaTrader 4 XAUUSD Transaction Recorded on MT4 Account History Transaction Tab
From the above examples, once our open order was closed the trade transaction was then recorded as an entry within the 'Account History' of the MetaTrader 4 Platform Software
MetaTrader 4 Account History Menu
XAUUSD Account History Menu
This menu is shown above & can be accessed by right-clicking anywhere within the account history panel. The last Four (commissions, Taxes, comments, Auto Arrange and Grid are used more for formatting purposes but not for trading in general, therefore we shall not look at these as they are self explaining)
The following 6 options are Shown Below:
All History, Last 3 Months, Last Month or Custom Period - all these options can be used to select time period for which you want to generate history of transactions.
Save as Report, Save as Detailed Report - This will generate a report of all transactions along with profit & loss calculation, draw-down calculation, profit factor calculation, expected pay-off factor of the system you use along with total number of profitable trades, losing ones, average loss per trade and the average profit per trade as displayed below.
Generating Trade Reports of Your Account on MT4 Trader Platform
Save as Report
Save as Detailed Report
Saving detailed Reports of Trading Transactions History on Meta Trading 4 Software
News Tab
This is the third option within the MT4 Terminal Window this panel is used to display a list of current news provided as a news feed by your gold broker. This is shown below:
XAUUSD News Stream on MT4
Alerts Tab
This is used to set an alert for trading price when it reaches a pre determined level. For example you may be using a Bollinger bands, an indicator that forms an upper boundary & lower boundary and you want to set an alert for price when it gets to any one of these regions.
For examples, in our above examples we may want to put an alert for at 50 pips below the current price, we shall open the Alerts Tab, and right-click to activate the menu below:
How to Set Price Alerts in MetaTrader 4
On the above panel, select, Create and create one as follows:
Placing Price Alerts on MetaTrader 4 Platform
Put the sound as the alert action, set xauusd symbol, set the condition to set is when the bid price is less than(Bid<-<) and put the value for example at 1.34730, select the source of alert sound as above, (This is a sound file with the extension Alert.wav), adjust timeout to Ten seconds & iterations at maximum of 50, then select OK to activate it.
Placing Price Alerts on MT4
The above alert is then set and an alert will sound off once this price goes below this level.
By right clicking on this, the Alert Menu will provide options for modifying it, deleting it or turning it off. You can download the MetaTrader 4 and practice opening this option to see how you can put a new alert or delete the same or modify it.
Mailbox Tab
Mail-box is used to view messages which have been sent to you, to your Online xauusd software as shown below:
Mail Box on MT4
Trade Signals Tab
Contains of a list of XAUUSD Signal Providers that traders can subscribe to through their MetaTrader 4 Software, this is pictured below, one can select any signal provider & click subscribe to get the trade signals.
MetaTrader 4 Signals Provided From MQL5 XAUUSD Site Direct to the Software
To learn and know more about MetaTrader 4 MQL5 Signals, navigate to the MQL5 Signals Page.
Code-Base Tab
Code-Base contains a list or a library of Expert Advisors that one can purchase from through their MT4 platform and then use this Expert Advisors which are automated programs used to trade xauusd. These EA Robots are set up Expert Advisors on the traders MT4 platform. To use these Expert Advisors (EAs) one has to activate automated trading option within their platform a topic described in the next tutorial. The Code Base is shown Below:
MetaTrader 4 Gold Expert-Advisors Provided From MQL5 XAUUSD Site Direct to the Software
To learn and know more about MetaTrader 4 MQL5 Expert Advisors, navigate to the MQL5 Expert-Advisors Page.
Experts Tab
Shows a list of all Expert Advisors that have been installed on the MT4 Platform, for Example the image below displays two EA Bots are set up on this gold platform. This option also shows the trading specifications of each Expert Advisor, these include trading parameters such as TP Orders, Lot Size, Trailing Stop Levels & all the other custom trading parameters of the EA that has been installed on the platform.
Automated Expert Advisors Installed in MetaTrader 4
Journal Tab
Tracks log in activities of the MT4 & from which computer PC and the IP address of the computer used to login to the trading software platform.
This is more on the technical stuff and traders do not use this one a lot and therefore we shall not explain it here but you can look at this at your own free time, on your MT4 Software.
