Place a New Order on Tools Menu in MT4 Software

A new trade order to buy/sell a trade position can be found on the tools menu that is found in the MetaTrader 4 Software. The Button for placing a new trade is portrayed below. (Short-cut key-board Keys 'F9')

Placing a New Order

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

The Following Setting are specified for setting a new order:

Quote - Specify instrument to be traded - xauusd.
Volume - The Number of Lots to be transacted
Stop Loss Order - Set StopLoss, This option can be set after opening a trade position, or for pending orders
TP - Set TakeProfit, This option can be set after opening a trade transaction, 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 Pending Orders

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

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

Buy Limit
Sell Limit
Buy Stop
Sell Stop

These options are illustrated below:

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

Setting up Buy Limit Order & Sell Limit Order in MT4

Setting up Buy Stop Order and Sell Stop Order in MT4

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

Study More Topics & Lessons:

Trade Forex Trading

Place a New Order on Tools Menu in MT4 Software

Placing a New Order

Setting Pending Orders