XAUUSD MT4 Transactions Tabs Panel
The MT4 Platform Terminal Window is mainly used for monitoring your gold 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 trading platform MT4 the Terminal Window Panel is shown below:
Terminal Window - MT4 Online Gold Software
The Terminal Window has the Following Sub-Menu or Tabs:
- Trade
- XAUUSD Trading Account History
- News
- Alerts
- Mailbox
- Trading Signals
- Code Base
- Experts
- Journal
Let us look at each on its own:
Trade Tab
If you open a Gold on the MetaTrader 4 platform, the transaction will then be recorded here on this Trade Tab. For Example if you sell The Gold, open a sell trade order the following details will be recorded on this Trade Tab panel.
Trade Tab - Gold Trading Platform Trading Windows
From the above example: The trade details are illustrated above under column details marked
Order, Time, Type, Size, Quote, Gold 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, - MT4 Symbol
Open Gold Price - 1.35185
S/L, - Stop Loss Order
T/P, - Take-Profit Order
Current Gold Price
Commission, - Commission (no commission charged by this broker)
Swap, - no swap charged as per now, the trade has not stayed overnight
Profit - $ 51 dollars
Most common operation after opening a trade is to place the Stop-Loss Order & Take Profit Order, These are abbreviated as S/L & T/P. There is likely no other operation to setup after this only to monitor the trades within the trading platform work-space after setting these two levels, the stop-loss will close your order with a minimum loss & the take profit will close your trade at a reasonable profit.
To place this S/L & T/P, we shall Right Click anywhere within this Trade Tab, the part shaded grey, the following menu will appear, this is used to make changes to the current order that is open.
This will popup as:
Modify a Order on the MetaTrader 4 Platform
Menu has The following Options:
- New Order - Put a new transaction
- Close - Can close this transaction at current xauusd trading price
- Modify or Delete - Can Modify the S/L & T/P, (order can't be deleted, delete is for pending gold orders that are not 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 charts according to alphabet, 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 & Stop Loss Order, T/P & S/L we use the third option, "Modify or Delete", after clicking this the following panel will popup:
S/L is placed at 250 points - 25 pips
T/P is placed at 500 points - 50 pips
You can set this two points by selecting 250 & 500 on the part labeled points, the red part marked copy is for Stop Loss Order & blue part marked copy as is for Take Profit Order as shown on the screenshot below.
After that press the wide red button marked modify to modify.
Modify a Order on MT4
The order will then appear as below, note that the S/L and T/P columns for our trade have now been updated as displayed below.
Take Profit Order & Stop Loss Order Zones Shown on Meta Trader Platform
S/L & T/P Order Details Updated on the MetaTrader 4 Platform Transaction 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 trading account balance.
Gold Account Balance Updated on MT4 Platform
XAUUSD Trading 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 previous transactions.
Trade Reports Panel on MetaTrader 4
On the above examples, there are currently no trade records on this transaction history recorded. There needs to be a couple of closed transactions for this record to show some entries.
MetaTrader 4 Gold Transaction Recorded on MT4 Gold Trading 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 MT4 XAUUSD Trading Software
MetaTrader 4 Gold Account History Menu
XAUUSD Trading Account History Menu
This menu is displayed above and can be accessed by right-clicking anywhere within the account history panel. Last Four (commissions, Taxes, comments, Auto Arrange & Grid are used more for formatting purposes but not for trading in general, therefore we shall not look on these as they are self explaining)
following 6 options are Shown Below:
All History, Last Three Months, Last Month or a Customized Period - all these options can be used to select the time period for which you as a trader want to generate the history of transactions.
Save as Report, Save as Detailed Report - This will generate a report of all transactions along with profit and loss calculation, draw down calculation, profit factor calculation, expected payoff factor of the system you use along with total number of profitable trade transactions, losing ones, average loss per trade & the average profit per trade as shown below.
Generating Trade Reports of Your Gold Trading Account in 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 xauusd trading broker. This is shown below:
XAUUSD News Stream on MT4
Alerts Tab
This is used to set an alert for xauusd trading price when it reaches a pre determined level. For examples you may be using a Bollinger bands, an indicator that forms an upper boundary & lower boundary and you want to set an alert for xauusd trading price when it gets to any one of these regions.
For examples, in our above example we might 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 Gold Price Alerts in MetaTrader 4
On the above panel, select, Create & create one as follows:
Setting Gold Price Alerts in MetaTrader 4 Software
Put the sound as the alert action, set gold symbol, set the condition to set is when bid price is less than(Bid<-<) and put the value for example at 1.34730, choose the source of alert sound as above, (This is a sound file with extension Alert.wav), adjust time-out to Ten seconds & iterations at maximum of 50, then select OK to activate it.
Setting Gold Price Alerts in MetaTrader 4
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 MT4 & 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 gold software as illustrated below:
Mail Box on MT4
Gold Trading Signals Tab
Contains of a list of Gold Trading Signal Providers that traders can subscribe to through their MT4 Gold Trading Platform, this is shown below, one can select any signal provider and click subscribe to get the trade signals.
MetaTrader 4 Signals Provided From MQL5 Gold Website Direct to the Software
To learn more about MT4 MQL5 Signals, navigate to the MQL5 Gold Trading Signals Page.
CodeBase Tab
CodeBase contains a list or a library of Expert Advisors that one can purchase from through their MetaTrader 4 platform and then use this Expert Advisors which are automated programs used to trade gold. These EA Gold Trading Bots are set up Expert Advisors on the traders MetaTrader 4 platform. To use these Expert Advisors (EAs) one has to activate automated trading option within their platform a topic explained in the next tutorial. The Code Base is shown Below:
MetaTrader 4 Gold Expert Advisors Provided From MQL5 Gold Website Direct to the Software
To learn more about MT4 MQL5 Gold Trading Expert-Advisors, navigate to the MQL5 XAUUSD 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 shows two EA Gold Robots are installed on this trading platform. This option also shows the trading specifications of each Expert-Advisor, these include trading parameters such as Take Profit Orders, Lot Size, Trailing Stop Levels & all the other custom trading parameters of the Expert Advisor that has been installed on the trading platform.
Automated Gold Expert Advisors Installed in MetaTrader 4
Journal Tab
Tracks log in activities of the MetaTrader 4 & from which computer & the IP address of the PC computer used to log in to the trading platform.
This is more on the technical stuff and traders don't use this one a lot & therefore we shall not explain it here but you can look at this at your own free time, on your MT4 Gold Trading Platform.
