How to Place New FX Trade Order in Tools Menu on MT4 Platform
A new order to buy or sell a trade can be found on tools menu within the MetaTrader 4 Platform. The Button key for placing a new trade is displayed below. ( Short Cut Keys "F9")
Placing a New FX Trading Order
As a trader, once you choose the new order button as illustrated above the following pop up panel will appear. This pop-up window panel includes the settings for placing a new trade.
The Following Settings are specified for setting up a new order:
- Symbol - Specify the currency pair to be traded.
- Volume - The Number of Lots to be transacted
- Stop Loss - Set Stop Loss, This option can be set after opening the trade, or for pending orders
- Take Profit - Set Take Profit, This option can be set after opening the trade, or for pending orders
- Type: Market Execution or Pending Order
- Sell by Market - Open a Sell Trade
- Buy by Market - Open a Buy Trade
To Buy at current price hit Buy by Market button key
To Sell at current price hit Sell by Market button key
Setting Pending Forex Orders
To Set a pending trade at another price, Change the "Type" option from "Market Execution" to "Pending Order" as shown below.
A menu list will pop-up & explain the following options.
- Buy Limit
- Sell Limit
- Buy Stop
- Sell Stop
These options are shown below:
To learn how to set up these pending orders read the articles:
· Setting up Buy Limit and Sell Limit on MetaTrader 4
· Setting up Buy Stop and Sell Stop on MetaTrader 4
Once you select the type of pending order to place: then click the "Place" button key as illustrated on the above screenshot to complete the setup.
