MT4 Terminal Window
The MT4 Bitcoin Platform Terminal Window is mainly used for monitoring your bitcoin 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 bitcoin trading platform MT4 the Terminal Window Panel is illustrated below:
Terminal Window - MT4 Online Bitcoin Trading Software
The Terminal Window has the Following Sub-Menu or Tabs:
- Trade
- Bitcoin 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 Bitcoin on the MT4 platform, the transaction will then be recorded here on this Trade Tab. For Example if you sell The Bitcoin, open a sell bitcoin trade order the following details will be recorded on this Trade Tab panel.
Trade Tab - Bitcoin Trading Platform Trading Windows
From above example: trade details are shown above under column details marked
Order, Time, Type, Size, Quote, Bitcoin 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 Quote
Open Bitcoin Price - 1.35185
S/L, - Stop Loss Bitcoin Order
T/P, - TakeProfit Bitcoin Order
Current Bitcoin 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 Stop-Loss Bitcoin Order & Take Profit Bitcoin 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, stop-loss will close your order with a minimum loss and the take profit will close-out your trade 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 and appear, this is menu used to make changes to the current order that has been opened.
This will popup as:
Modify a Cryptocurrency Order on the MT4 Platform
Menu has The following Options:
- New Order - Put a new transaction
- Close - Can close this transaction at current bitcoin trading price
- Modify or Delete - Can Modify the S/L & T/P, (order can't be deleted, delete is for pending cryptocurrency orders that are not yet executed)
- Trailing Stop - Set a trailing Stop Loss Bitcoin 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 crypto charts according to alphabet, time of open, most profitable according to sorting by selecting a column of arranging priority, for example 'Time' column.
- Grid - Show Grid or don't Show Grid, by Checking or Unchecking this option.
To Set Take Profit Bitcoin Order & Stop Loss Bitcoin Order, T/P & S/L we use the third option, 'Modify or Delete', after clicking this the following panel will pop up:
SL Order is placed at 250 points - 25 pips
TP Order is placed at 500 points - 50 pips
You can set this two points by selecting 250 & 500 on part labeled points, the red part marked copy is for Stop Loss Bitcoin Order & blue part marked copy as is for Take Profit Bitcoin Order as illustrated on screenshot below.
After that press the wide red button marked modify to modify.
Modify a Trading Order in MT4
Order will then appear as below, note that the S/L & T/P columns for our trade have been updated now as illustrated & shown below.
Take Profit Bitcoin Order & Stop Loss Bitcoin Order Levels Shown on Meta Trader Platform
S/L & T/P Order Details Updated on Meta 4 trader Platform Transaction Window
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.
Bitcoin Trading Account Balance Updated on the MT4 Platform
Bitcoin 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 on MT4
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 Bitcoin Transaction Recorded on MT4 BTCUSD 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 BTCUSD Trading Software
MetaTrader 4 BTCUSD Account History Menu
BTCUSD 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 and 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 Custom Period - all these options can be used to select the time period for which you as the 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 Bitcoin Account in MT4 Trader Platform
Save as Report
Save as Detailed Report
Saving detailed Reports of Transactions History on Meta Trading 4 Bitcoin Trading 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 crypto broker. This is shown below:
Cryptocurrency News Stream on MetaTrader 4
Alerts Tab
This is used to set an alert for bitcoin 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 bitcoin 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 bitcoin price, we shall open the Alerts Tab, & right click to activate the menu below:
How to Set Bitcoin Price Alerts on MetaTrader 4
On the above panel, select, Create and create one as follows:
Setting Bitcoin Price Alerts in MT4 Software
Put the sound as the alert action, set cryptocurrency symbol, set the condition to set is when bid bitcoin 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 Bitcoin Price Alerts on MetaTrader 4
The above alert is then set and an alert will sound off once this bitcoin 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 that have been sent to you, to your Online bitcoin trading platform as shown below:
Mail Box on MT4
Bitcoin Trading Signals Tab
Contains of a list of Bitcoin Trading Signal Providers that traders can subscribe to through their MT4 Bitcoin Trading Platform, this is illustrated and shown below, one can choose any signal provider & click subscribe to get the trade signals.
MetaTrader 4 Signals Provided From MQL5 Bitcoin Website Directly to the Trading Software
To learn & know more about MT4 MQL5 Signals, navigate to the MQL5 Bitcoin Trading Signals Page.
CodeBase Tab
CodeBase contains a list or a library of Expert Advisors that one can purchase from through their MT4 platform and then use this EAs which are automated programs used to trade bitcoin. These Expert Advisor Bitcoin Bots are set up EAs on the traders MT4 platform. To use these EAs (EAs) one has to activate automated trading option within their platform a topic explained in the next tutorial. The Code Base is shown Below:
MT4 Crypto EAs Provided From MQL5 Bitcoin Website Directly to the Trading Software
To learn & know more about MT4 MQL5 Bitcoin Trading Expert-Advisors, navigate to the MQL5 Bitcoin EAs Page.
Experts Tab
Shows a list of all EAs that have been installed on the MT4 Platform, for Example the image below shows two Expert Advisor Bitcoin Bots are installed on this bitcoin trading platform. This option also shows the trading specifications of each Expert-Advisor, these include trading parameters such as Take Profit Bitcoin Orders, Lot Size, Trailing Stop Levels and all the other custom trading parameters of the Expert Advisor that has been installed on the bitcoin trading platform.
Automated Crypto EAs Installed on MT4
Journal Tab
Tracks login activities of the MT4 & from which PC computer & the IP address of the PC computer used to log-in to the trading 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 Bitcoin Trading Platform.
