How to Place a New Trading Order in Tools Menu in MetaTrader 4 Platform

A new trading order to buy or sell a trade can be found on the tools menu within the MT4 Platform. Button key for placing a new trade is pictured below. (Keyboard Shortcut Keys "F9")

Placing a New Order

As a trader, once you select the new order button key as illustrated & illustrated above the following pop up panel will pop-up. This pop up includes all the settings for placing a new trade order.

Following Setting are specified for placing and setting a new order:

1. Symbol - Specify the instrument to be traded.
2. Volume - The Number of Lots to be transacted
3. Stop Loss Order - Set Stop Loss Order, This option can be set after opening the trade, or for pending orders
4. Take Profit Order - Set Take Profit Order, 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 trading price hit the Buy by Market button

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

Setting Pending Orders

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

A menu list will pop-up & explain the following options.

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

These options are shown below:

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

Setting up Buy Limit Order and Sell Limit Order in Meta Trader 4

Setting up Buy Stop Order and Sell Stop Order in Meta Trader 4

Once you select the type of pending trade order to place: then select and click the "Place" button as shown on the above screenshot to complete the setup.