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 and placing a new trade position is high lighted below. ( Short-cut Keys "F9")

Setting a New FX Trade Order

As a fx trader, once you select the new trade order button like is 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:

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 a 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 a pending trade order at another price, Change the "Type" option from "Market Execution" to "Pending Order" just as illustrated 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 MT4

· Setting up Buy Stop and Sell Stop on MT4

Once you choose 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 Place New FX Trade Order in Tools Menu on MT4 Software

Setting a New FX Trade Order

Setting and Placing Pending Orders