How to Add New FX Trade Order in Tools Menu on MT4 Software

A new order to buy/sell a trade transaction can be found on tools menu within MetaTrader 4 Platform. The Button for opening and placing a new trade position is high lighted below. ( Short-cut Keys "F9")

Setting a New FX Trade Order

As a forex trader, once you choose the new order button like is illustrated and shown above the following pop-up window/panel will appear. This pop-up panel includes the settings for placing a new trade transaction.

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

Symbol - Specify the forex pair to be transacted.
Volume - No. of Lots to be traded and transacted
Stop Loss - Set StopLoss, This one can be set/put after opening a trade transaction, or for pending orders
TP - Set Take Profit, This one can be set/put after opening and placing a trade transaction, or for pending orders
Type: Market Execution or Pending Order
Sell by Market - Open Sell Trade
Buy by Market - Open a Buy Trade

To Buy at current price hit Buy by Market button key

To Sell at current price hit Sell by Market button

Setting and Placing Pending Orders

To Set and Place a pending trade order at another price, Change the "Type" option from "Market Execution" to "Pending Order" just as illustrated and shown below.

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

Buy Limit
Sell Limit
Buy Stop
Sell Stop

The options are shown below:

To know how to set-up these pending orders read the articles:

· Setting up Buy Limit and Sell Limit on the MT4

· Setting up Buy Stop and Sell Stop in MT4

Once you select the type of pending order to place: then click the "Place" button such as displayed on the above screen-shot to complete the setup.

More Courses & Tutorials:

Trade Forex Trading

How to Add New FX Trade Order in Tools Menu on MT4 Software

Setting a New FX Trade Order

Setting and Placing Pending Orders