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

A new trade order to buy/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 gold 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

To Set and Place a pending at another price, Change the 'Type' option from 'Market Execution' to "Pending Order" as shown 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 know how to set up these pending orders study the topics:

Setting up Buy Limit Order & Sell Limit Order in MetaTrader 4 Platform

Setting up Buy Stop Order and Sell Stop Order on MT4 Platform Software

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

Study More Topics 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