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

A new trade order to buy/sell a trade transaction can be found on tools menu within MT4 Platform. The Button for opening a new trade is high lighted below. ( Short-cut Keys "F9")

Placing a New FX Trade Order

As a fx trader, once you select the new trade order button as illustrated above the following pop-up window 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:

1. Symbol - Specify the forex pair to be traded.
2. Volume - The Number of Lots to be transacted
3. Stop Loss - Set StopLoss, This option can be set after opening a trade transaction, or for pending orders
4. TP - Set Take Profit, This option can be set after opening a trade transaction, 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 current price hit Buy by Market button key

To Sell at current price hit Sell by Market button

Setting Pending Orders

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

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

· Setting up Buy Limit and Sell Limit on MetaTrader 4

· Setting up Buy Stop and Sell Stop on MetaTrader 4

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

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