Place a New Order on Tools Menu in MetaTrader 4 Platform

A new order to buy or sell a trade can be found on the tools menu that's found in the MetaTrader 4 Platform. The Button for placing a new trade is portrayed below. (Short-Cut Keyboard Keys 'F9')

Placing a New Trade Order

As a trader, once you choose the new order button key as shown above the following popup window will appear. This pop up includes all the parameters for placing a new trade order.

The Following Setting are specified for setting a new order:

1. Quote - Specify the instrument to be traded - xauusd.
2. Volume - The Number of Lots to be transacted
3. Stop Loss Order - Set Stop Loss Order, This option can be set after opening the trade, or for pending orders
4. Take Profit Order - Set Take Profit Order, This option can be set after opening the trade, or for pending orders
5. Type: Market Execution or Pending Order
6. Sell by Market - Open Sell Trade
7. Buy by Market - Open Buy Trade

To Buy at current price hit Buy by Market button

To Sell at current trading price hit Sell by Market button key

Setting Pending Orders

To Set a pending trade at another trading price, Change the 'Type' option from 'Market Execution' to "Pending Order" as pictured below.

A menu list will pop-up & show the following options.

1. Buy Limit Order
2. Sell Limit Order
3. Buy Stop Order
4. Sell Stop Order

These options are pictured below:

To learn how to set up these pending orders read the articles:

Setting up Buy Limit Order & Sell Limit Order in MT4

Setting up Buy Stop Order & Sell Stop Order in MT4

Once you choose the type of pending trade order to place: then select and click the 'Place' button as shown on the above screenshot to complete the setup.