MetaTrader 5 Terminal Window
The MT5 Bitcoin Platform Terminal Window is mainly used for monitoring your Bitcoin Trading MT5 account balance, MT5 account equity and 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 MT5 the Terminal Panel is illustrated below:
Terminal Window - MT5 Online Bitcoin Software
The Terminal Window has the Following Sub Menu or Tabs:
- Trade
- BTCUSD 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 Trading on the MT5 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 Windows
From above examples we have opened a Sell Bitcoin: trade details are shown above under the column details marked
Order, Time, Type, Size, Symbol, 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
Symbol, -bitcoin-currency Symbol, Bitcoin
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, trade has not stayed overnight
Profit - $51 dollars
The most common operation after opening a trade is to place the Stop Loss Bitcoin Order and Take Profit Bitcoin Order, These are abbreviated as S/L and T/P. There is likely no other operation to setup after this only to monitor the cryptocurrency trades within the trading platform workspace after setting these two levels, stop loss will close your 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 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 Bitcoin Order on the MT5 Platform
The 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 cannot 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, term bitcoin trading or deposit currency: depending on which option you favor.
- Commission, Taxes, Comments, are additional columns that 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 do not Show Grid, by Ticking/Unticking This MT5 option.
To Set Take Profit Bitcoin Order and 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, red part marked copy is for Stop Loss Bitcoin Order and blue part marked copy as is for Take Profit Bitcoin Order as illustrated on screen-shot below.
After that press the wide red button marked modify to modify.
Modify a Order in MT5 bitcoin trading Software
Order will then appear as below, note that the S/L & T/P columns for our trade have now been updated as illustrated & shown below.
Take Profit Bitcoin Order and Stop Loss Bitcoin Order Levels Shown on Meta bitcoin trader Platform
S/L and T/P Order Details Updated on the Meta 5 trader Platform Transaction Window Panel
If you were to close the above trade now, then the trades will be updated as follows, to reflect that trade has been closed & the profit added to your MT5 account balance.
Bitcoin Trading Account Balance Updated on the MT5 Platform
BTCUSD Trading Account History
This is used to generate trade reports of cryptocurrency trades that have been opened previously and have been closed. This is a record of all previous transactions.
Trade Reports Window on MetaTrader 5
On the above examples, there are currently no trade records on this transaction history recorded. There needs to be a couple of closed trade transactions for this record to show some entries. Let us see what happens when we close our open position of bitcoin crypto.
Bitcoin Closed Transaction Recorded on MT5 BTCUSD Account History Transaction Tab
From above examples, once our open cryptocurrency order was closed the transaction was then recorded as an entry within the "Account History" of the MT5 Bitcoin Trading Platform
MetaTrader 5 BTCUSD Trading Account History Menu
Bitcoin Trading Account History Menu
This menu is displayed above & can be accessed by right clicking anywhere within the MetaTrader 5 account history panel. The 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 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 trade transactions along with profit and loss calculation, draw-down calculation, profit factor calculation, the expected pay-off factor of the system you use along with the total number of profitable trade transactions, losing ones, the average loss per trade & the average profit per trade as shown below.
Generating Trade Reports of Your Bitcoin Account in MetaTrader 5 Trader Platform
Save as Report
Save as Detailed Report
Saving detailed Reports of Transactions History on Meta Trading 4 Bitcoin Software
News Tab
This is the third option within the MetaTrader 5 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:
Bitcoin Trading News Stream in MetaTrader 5
Alerts Tab
This is used to set an alert for bitcoin trading price when it reaches a pre determined level. For example you might be using a Bollinger bands, an indicator that forms an upper boundary & lower boundary & you want to set an alert for bitcoin 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 current bitcoin price, we shall open Alerts Tab, & right click to activate the menu below:
How to Set Bitcoin Price Alerts in MetaTrader 5
On the above panel, choose, Create and create one as follows:
Setting Bitcoin Price Alerts in MT5 Software
Put the sound as the alert action, crypto symbol is the Bitcoin, set the condition to set is when bid bitcoin price is less than(Bid<-<) & put the value for examples at 1.34730, select the source of the alert sound as above, (This is a sound file with extension Alert.wav), adjust the timeout to 10 seconds and iterations at maximum of 50, then choose OK to activate it.
Setting Bitcoin Price Alerts in MetaTrader 5
The above alert is then set and an alert will sound off once this bitcoin trading price of Bitcoin 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 MT5 and practice opening This MetaTrader 5 option to see how you can put a new alert or delete the same or modify it.
Mailbox Tab
Mailbox is used to view the messages that have been sent to you, to your Online bitcoin software as illustrated below:
Mail Box on MetaTrader 5
BTCUSD Trading Signals Tab
Contains of a list of Bitcoin Trading Signal Providers that traders can subscribe to through their MetaTrader 5 Bitcoin Trading Platform, this is illustrated & shown below, one can choose any signal provider & click subscribe to get the trade signals.
MetaTrader 5 Signals Provided From MQL5 Bitcoin Site Directly to the Software
To learn and know more about MetaTrader 5 MQL5 Signals, navigate to the MQL5 Bitcoin Trading Signals Page.
CodeBase Tab
CodeBase contains a list or a library of Automated Bitcoin Expert Advisors that one can purchase from through their MT5 Bitcoin Platform & then use this Automated Crypto EAs which are automated programs used to trade bitcoin. These Expert Advisor Bitcoin Bots are set up Automated Crypto EAs on the traders MT5 Bitcoin Trading Platform. To use these Automated Crypto EAs (EAs) one has to activate automated trading option within their platform a topic described in the next tutorial. The Code Base is shown Below:
MT5 Automated Crypto EAs Provided From MQL5 Bitcoin Site Directly to the Software
To learn and know more about MetaTrader 5 MQL5 Automated Bitcoin Trading Expert Advisors, navigate to the MQL5 Bitcoin Trading Automated EAs Page.
Experts Tab
Shows a list of all Automated Crypto EAs that have been installed on the MetaTrader 5 Platform, for Example the image below shows two Expert Advisor Bitcoin Bots are installed on this bitcoin trading platform. This MT5 option also shows the trading specifications of each EA, 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 Bitcoin Trading Automated EAs Installed on MetaTrader 5
Journal Tab
Tracks login activities of the Meta 5 trader and from which computer and the IP address of the computer used to login to the platform.
This is more on the technical stuff & 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 MT5 Bitcoin Trading Platform.
