Options Setting on Tools Menu on MT4 Platform Software

The options button handles many tasks in MetaTrader 4. Find it in the tools menu as shown below. Shortcut key is Ctrl+O.

MetaTrader 4 Options Settings

Below are the items displayed: various buttons appear as tabs shown in the screenshot beneath. As a trader, to make any adjustments in this window, simply click on one of these buttons and modify the settings accordingly.

Server

The MetaTrader 4 server settings appear below. Traders can adjust from the tab. But it's seldom needed. The broker presets them to server standards. No call to alter them. For learning, the Server lists your broker's server. It says if it's demo or live. Login and password details appear below. As a Gold trader, you can update the password here for demo XAUUSD accounts. Stay alert. If you alter password facts, make sure you recall them.

Other settings: Enable proxy server if needed, but skip it. Keep personal data at startup - it's on by default. This saves login details for quick access. DDE server isn't needed. Enable news for real-time updates in MT4. Find it in the Terminal window (Ctrl+T shortcut).

Chart

The following are marked & labeled on Charts Options

Show Trade Levels - These lines will show the levels where orders were made, and they will also show the levels where orders that are waiting are placed. This will also show where the Take-Profit Order & SL Order areas are. These trade level lines are shown as red dashed lines marking these areas.

In the absence of an open position, no level will be displayed: conversely, if numerous trade positions have been initiated, multiple lines will be exhibited and indicated 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 and 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 & 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.

Preserve Charts Upon Deletion - Ensure all deleted charts are saved so they can be accessed later at any time within the trading platform environment.

Max bars in history and on chart limit stored data. This saves RAM, processor power, and disk space. Stick to the default number for best results.

Objects

These are:

Show properties right after adding. This opens the settings for the indicator or line tool on the chart. Edit them as needed.

You can pick and choose an object after it's made - you can pick an indicator or line by double-clicking it after it's placed, so you can change how it looks.

Select and Choose 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 snaps lines to the closest high or low within 10 pixels. It places them right on target levels. No need for much tweaking to match price peaks or dips.

Trade

Platforms use these defaults to track which XAUUSD amount you buy.

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

Default size uses the last lot. Or set all trades to 1 or 2 lots, or micro lots. Click the button and choose from the drop-down list.

Deviation - This setting defines the maximum allowable pip movement away from your specified price when an order is being executed. For instance, setting it to two pips allows minor fluctuations, whereas setting it to zero ensures the trade executes precisely at the clicked level.

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

following options are used:

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

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

Turn off Experts when the settings have been changed - When you change settings, the Expert Advisors setting that allows EA trading in the new settings is turned off until you manually allow it and add an Expert-Advisor to the new chart.

Allow live trading: Let the expert advisor handle trades on the real market.

(Ask Manual Confirmation - no needs for this if you're using Expert Advisors, leave this one as it is shown 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 and outside your PC Desktop computer, so you should try to be extra careful with this setting)

Check DLL function calls - Manually allow each function call: either permit it or deny it based on the trading settings you have set up.

‘Allow External Experts imports' lets your Expert Advisor reference information from another EA that's not on your own computer. Since these bots are coming from outside sources, use this option with caution.

Notifications

To receive notification on your phone from your MT4 software, use the notifications option illustrated 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 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 MetaTrader 4 and follow the instruction you'll get from this Notification panel window.

E-mail Settings

Some traders skip this, but if needed, set options as listed 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', Choose & put these like shown below. Click test and check your inbox to confirm that you get the message.

Events

MT4 events send alerts like sounds, emails, or SMS. Set them for logins, timeouts, news, EA actions, price hits, or requotes.

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 lets traders connect and share EAs and signals. Sign up to join. Access services straight from your platform. For sign-up steps, log into MT4. Go to the panel below and follow the instructions.

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 software.

Using a Trusted Execution Token (T.E.T.) allows for the execution of copy signals without the need to have MetaTrader 4 open on a desktop. This T.E.T. model enables signal execution even if the trading platform is not actively running on a PC.

Copy Stop Loss Order & Take-Profit Order Areas - Copier 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 account.

Stop if the money you have is less than - Set a percentage to figure out this level: for example, if you have $10,000, use 70%, which is $7,000, and set this amount: if the trade loses this much money, stop the trade.

Deviation or slippage lets you set a value like 2 for gold trades. It adds room for small price slips when placing orders. This helps if your broker requotes. Choose an STP broker with no requotes to ensure smooth execution and avoid slips.

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