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

A new order to buy or sell a trade can be found on tools menu within the MetaTrader 4 Platform. The Button key for placing a new trade is highligthed below. ( Short Cut Keys "F9")

Placing a New FX Trade Order

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

The Following Settings 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. Take Profit - 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 current price hit Buy by Market button key

To Sell at current price hit Sell by Market button key

Setting Pending Orders

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

A menu list will pop-up & 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 key as illustrated on the above screenshot to complete the setup.