Place New Order on Tools Menu in MetaTrader 4 XAUUSD Trading Platform

A new order to buy or sell a trade can be found on the tools menu that is found in the MetaTrader 4 Platform. The button for placing a new trade transaction is shown below. (Short Cut Keyboard Keys "F9")

Placing a New Order

As a xauusd trader, once you select the new order button as shown and illustrated above the following popup window will appear. This popup includes the settings for placing a new trade.

The Following Settings are specified for placing a new order:

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

To Buy at current gold price hit the Buy by Market button

To Sell at current gold price hit the Sell by Market button

Setting Pending XAUUSD Orders

To Set a pending trade at another gold price, Change the "Type" option from "Market Execution" to "Pending XAUUSD Order" as shown below.

A menu list will appear and show the following options.

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

These options are shown below:

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

Setting up Buy Limit Gold Order and Sell Limit Gold Order on MetaTrader 4

Setting up Buy Stop Gold Order and Sell Stop Gold Order on MT4

Once you select the type of pending xauusd order to place; then click the "Place" button as shown on the above screenshot to complete the setup.