MT4 Terminal Window

The MT4 Silver Platform Terminal Window is mainly used for monitoring your silver trading balance, account equity & transaction reports mainly. There are other operations that can be set up on this panel but most of these are not commonly used.

On the online silver trading platform MT4 the Terminal Window Panel is illustrated below:

Terminal Window - MT4 Online Silver Trading Platform

The Terminal Window has the Following Sub-Menu or Tabs:

1. Trade
2. Silver Trading Account History
3. News
4. Alerts
5. Mailbox
6. Trading Signals
7. Code Base
8. Experts
9. Journal

Let us look at each on its own:

Trade Tab

If you open a Silver on the MT4 platform, the transaction will then be recorded here on this Trade Tab. For Example if you sell The Silver, open a sell silver trade order the following details will be recorded on this Trade Tab panel.

Trade Tab - Silver Trading Platform Trading Windows

From above example: trade details are shown above under column details marked

Order, Time, Type, Size, Quote, Silver 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 Silver Price - 1.35185

S/L, - StopLoss Silver Trading Order

T/P, - Take-Profit Silver Trading Order

Current Silver 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

The most common operation after opening a trade is to place the StopLoss Silver Trading Order & Take-Profit Silver Trading 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 stoploss will close your trading order with a minimum loss & take profit will close your it at a reasonable profit.

To place this S/L & T/P, we shall Right Click anywhere within this Trade Tab, part shaded grey, the following menu will pop-up, this is the menu that is used to make changes to the current order that has been opened.

This will popup as:

Modify a XAGUSD Order on the MT4 Platform

Menu has The following Options:

1. New Order - Put a new transaction
2. Close - Can close this transaction at current xagusd trading price
3. Modify or Delete - Can Modify the S/L & T/P, (order can't be deleted, delete is for pending silver orders that are not yet executed)
4. Trailing Stop - Set a trailing Stop Loss Silver Trading Order
5. Profit - View profit as either pips or in dollars: depending on which option you favor.
6. Commission, Taxes, Comments, are additional columns which you as a trader can chose to show or hide by ticking/unticking(Checking/Unchecking) them.
7. Auto Arrange - Arrange silver charts according to alphabet, time of open, most profitable according to sorting by selecting a column of arranging priority, for example "Time" column.
8. Grid - Show Grid or don't Show Grid, by Checking or Unchecking this option.

To Set Take Profit Silver Trade Order and StopLoss Silver Trading Order, T/P and S/L we use third option, "Modify or Delete", after clicking this the following panel will pop up:

S/L Order is set at 250 points - 25 pips

T/P Order is set 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 Silver Trading Order & blue part marked copy as is for Take Profit Silver Trading Order as shown & illustrated on the screen shot below.

After that press the wide red button marked modify to modify.

Modify a Order on MT4

Order will then appear as below, note that the S/L & T/P columns for our trade have now been updated as shown and illustrated below.

Take Profit Silver Trade Order and StopLoss Silver Trading Order Levels Shown on Meta Trader Platform

S/L & T/P Order Details Updated on the MetaTrader 4 Software 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 and the profit added to your trading account balance.

Silver Trading Account Balance Updated on the MT4 Platform

Silver Trading Account History

This is used to generate trade reports of trades that have been opened previously and have been closed. This is a record of all previous transactions.

Trade Reports Window 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 Silver Transaction Recorded in MT4 Silver Trading Account History Transaction Tab

From above examples, once our open order was closed the trade transaction was then recorded as an entry within the "Account History" of the MT4 Silver Trading Platform

MetaTrader 4 Silver Account History Menu

XAGUSD Trading Account History Menu

This menu is shown above and can be accessed by right clicking anywhere within the account history panel. 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 a Custom Period - all these options can be used to select the time period for which you as a trader wants to generate 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 pay-off 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 Silver Trading Account on MT4 Trader Platform

Save as Report

Save as Detailed Report

Saving detailed Reports of Transactions History on Meta Trading 4 XAGUSD Trading Platform

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 xagusd trading broker. This is shown below:

XAGUSD News Stream on MT4

Alerts Tab

This is used to set an alert for xagusd trading price when it reaches a pre determined level. For examples you might be using a Bollinger bands, an indicator that forms an upper boundary & lower boundary & you want to set an alert for xagusd trading price when it gets to any one of these regions.

For example, in our above example we may want to put an alert for at 50 pips below the current xagusd price, we shall open the Alerts Tab, & right click to activate the menu below:

How to Set Silver Price Alerts on MetaTrader 4

On above panel, select, Create and create one as follows:

Setting Silver Price Alerts in MetaTrader 4 Software

Put the sound as the alert action, set silver symbol, set the condition to set is when bid xagusd price is less than(Bid<-<) & put the value for examples at 1.34730, choose the source of the alert sound as above, (This is a sound file with extension Alert.wav), adjust timeout to 10 seconds and iterations at maximum of 50, then select OK to activate it.

Setting Silver Price Alerts in MT4

The above alert is then set and an alert will sound off once this xagusd 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

Mailbox is used to view messages that have been sent to you, to your Online silver trading platform as shown below:

Mail Box on MT4

Silver Trading Signals Tab

Contains of a list of Silver Trading Signal Providers that traders can subscribe to through their MT4 Silver Trading Platform, this is shown and illustrated below, one can choose any signal provider & click subscribe to get the silver signals.

MetaTrader 4 Signals Provided From MQL5 Silver Website Directly To The Trading Platform

To know more about MT4 MQL5 Signals, navigate to the MQL5 Silver Trading Signals Page.

CodeBase Tab

CodeBase contains a list or a library of Expert Advisors that one can purchase from through their MT4 xagusd software & then use this Expert Advisors which are automated programs used to trade silver. These EA Silver Bots are set up Expert Advisors on the traders MT4 xagusd platform. To use these Expert Advisors (Expert-Advisors) one has to activate automated trading option within their platform a topic explained in the next tutorial. The Code Base is shown Below:

MT4 Silver Expert Advisors Provided From MQL5 Silver Website Directly To The Trading Platform

To know more about MT4 MQL5 Silver Trading Expert-Advisors, navigate to the MQL5 XAGUSD 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 Silver Bots are installed on this silver trading platform. This option also shows the trading specifications of each Expert-Advisor, these include trading parameters such as Take Profit Silver Trade Orders, Lot Size, Trailing Stop Levels & all the other custom trading parameters of the Expert Advisor that has been installed on the silver trading platform.

Automated Silver Expert Advisors Installed on MetaTrader 4

Journal Tab

Tracks login activities of MT4 & from which computer & IP address of the computer PC used to log in to the trading software platform.

This is more on the technical stuff & 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 MetaTrader 4 Silver Trading Platform.