Did some reading on how to operate the Tracker IV and it looks like for Gold, you will place a 3 position switch in the middle position for "ALL METAL" and will turn the "Discrimination" control knob to OFF. This detector is a "MOTION" detector so if you stop over the target, there will be no sound. In reading, it indicates the "Tuning" and "Ground Balance" are automatically done for the operator. Another thing I see is when the unit is turned ON, there will be no sound until a metal object is passed by the coil. The "ALL METAL" mode will put the machine at it's maximum depth detection capability.
I'm going to try and relate these controls to a real Gold detector. Real VLF Gold detectors are "ALL METAL" machines so the Tracker IV has that feature. You will run without any "Discrimination" so your set there. Now where it differs is you will have no control over "TUNING" and "GROUND BALANCING." Now as best I can translate what "TUNING" is on a Tracker IV, it would be on Gold machine what is called "THRESHOLD." I suspect your Tracker IV will have a silent or I think what would be called negative ( S.A.T. or self adjusting) "THRESHOLD" until a metallic object causes the machine to produce an audio response. I've read of pro's and con's of auto and manual adjust in the prospecting world. The "GROUND BALANCE" is a common feature on VLF Gold machines but yours will always self adjust itself to the iron mineral content of soil and rocks. Have also read of pro's and con's of auto verses manual adjustment on this. I'm more Old School so prefer manual adjust.
The "SENSITIVITY" control will be important to learn. On Gold machines, this would also be known as "GAIN" or is the Power adjustment. Turn it up, more power, turn it down, less. This is the part that I think you will struggle with getting to know and is why the manual recommends just as the Gold machines do, to start out learning with less "SENSITIVITY" or "GAIN." One example I like most from Larry Salle, author of ZIP ZIP, is his thought on headlights and fog. The detectors signal is like headlights. The light bounces off a rabbit (Nugget) and so you see it. If there is Fog, Dust, or Snow (iron minerals) in the air (soil) , you will have a harder time seeing the rabbit. If the Fog is really bad, the last thing you want to do is turn on your bright lights that would make it even more difficult to see the rabbit. The same goes with turning up the machines Power trying to detect a nugget in soils and gravels with greater amounts of iron mineral. Now in the manual, the Sensitivity can be so much that it will chatter or beep erratically. The Gold machines, if the power is turned up to much in relation to iron mineral content, they do what is called Over Lode and in effect, are overwhelmed and stop working. All you do is turn down the power and on some, re-ground balance.
Now as I understand and have experienced myself, iron tends to detect more broad in relation to the coil width and your non-ferrous metals tend to detect more narrow. In some cases, this can be used in determining if you should dig or not if without an ability to discriminate. If your machine has what I think is a silent self adjusting threshold or hunts silent, I suspect it will not hit on Hot Rocks like my BH Pioneer 505 will. The bad part is, a small enough nugget can be masked by a Hot Rock and if your Tracker Tunes out the hot rock, I would guess it would possibly tune out some nuggets that may be beside or under them. Not knowing this machine, that is just my guess from reading the manual and trying to relate terms used to those of Gold machines.
Hope this gives you something to think about and maybe look more into. If the controls on the Tracker IV translate over to what I think they are, maybe this will help you to understand them more. I wish more operator manuals explained their machines features in more theory so a guy would have a better idea as to what he is looking at besides it has a bunch of bells and whistles.
Best wishes to you on your nugget hunting, Robert