Place New Order in Tools Menu on MT5

A new order to buy/sell a trade can be found on the tools menu within the MT5 Platform. The Button key for opening a new trade is portrayed below. ( Short Cut Keys 'F9')

Placing a New Forex Order

As a trader, once you choose the new order button as shown above the following pop up panel will pop-up. This pop up panel includes settings for opening a new trade.

The Following Setting are specified for setting up a new order:

1. Symbol - Specify the currency pair to be traded.
2. Volume - The Number of Lots to be transacted
3. Stop Loss - Set Stop Loss, This option can be set after opening the trade, or for pending orders
4. TP - Set Take Profit, 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 a Sell Trade
7. Buy by Market - Open a Buy Trade

To Buy at prevailing price hit Buy by Market button

To Sell at prevailing 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 shown below.

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

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

The options are illustrated below:

To learn how to place these pending orders study the lessons:

· Setting up Buy Limit & Sell Limit on MetaTrader 5

· Setting up Buy Stop and Sell Stop on MetaTrader 5

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