Place New Order in Tools Menu on MT4 Platform

A new order to buy or sell a trade can be found on tools menu within the MT4 Platform. The Button key for placing a new trade is displayed below. ( Short Cut 'F9')

Placing a New FX Trading Order

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

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. 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 the Buy by Market button key

To Sell at current price hit the Sell by Market button key

Setting Pending Forex 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 appear & explain the following options.

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

These options are shown below:

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

· Setting up Buy Limit and Sell Limit in MT4

· Setting up Buy Stop and Sell Stop in MetaTrader 4

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.