Place a New Order on Tools Menu in MetaTrader 4 Platform Software

A new order to buy or sell a position can be found on the tools menu that is found in the MT4 Platform Software. The Button for placing and opening a new trade position is shown below. (Short Cut key-board Keys 'F9')

Setting a New Order

As a xau/usd trader, once you choose & select the new order button such as shown above the following pop up window panel will appear. This pop up window includes all the settings for placing new trade order.

The Following Setting are specified for setting a new order:

Quote - Specify instrument to be traded - xauusd.
Volume - Number of Lots to be traded and transacted
StopLoss Order - Set StopLoss, This one can be set/put after opening and placing a position, or for pending orders
TP - Set TakeProfit, This one can be set/put after opening a trade position, or for pending orders
Type: Market Execution or Pending Order
Sell by Market - Open Sell Trade
Buy by Market - Open Buy Trade

To Buy at ruling price hit Buy by Market button

To Sell at ruling price hit Sell by Market button

Setting and Placing Pending Orders

Change the 'Type' setting of the execution to Pending Order, as seen below, in order to establish and position a pending at a different price.

A menu list will pop up and show the following options.

Buy Limit
Sell Limit
Buy Stop
Sell Stop

The following examples demonstrate these choices:

To know how to set up these pending orders study the topics:

Configuring Buy Limit and Sell Limit Orders on the MetaTrader 4 Platform

How to Position Buy Stop and Sell Stop Orders on the MT4 Software Platform

After you pick the kind of pending trade order you want: then choose and click the 'Place' button as you can see in the picture above to finish setting it up.

Study More Subjects and Tutorials

Trade Forex Trading

Place a New Order on Tools Menu in MetaTrader 4 Platform Software

Setting a New Order

Setting and Placing Pending Orders