Place New Order in Tools Menu on MT4 Software

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 highligthed 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 pop-up 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

To Sell at current price hit the Sell by Market button

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

The options are illustrated 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.