Place New Order on Tools Menu in MT5
A new order to buy or sell a trade can be found on the tools menu within the MT5 Platform. The button for placing a new trade transaction is shown below. (Short Cut Keyboard Keys “F9”)
Placing a New Order
As a indices trader, once you select the new order button as illustrated above the following popup window will appear. This popup includes the settings for placing a new trade.
The Following Settings are specified for placing a new order:
- Symbol - Specify the instrument to be traded.
- Volume - The Number of Lots to be transacted
- Stop Loss Stock Indexes Order - Set Stop Loss Indices Trading Order, This option can be set after opening the trade, or for pending indices trading orders
- Take Profit Stock Indexes Order - Set Take Profit Indices Trading Order, This option can be set after opening the trade, or for pending indices trading orders
- Type: Market Execution or Pending Indices Trading Order
- Sell by Market - Open a Sell Trade
- Buy by Market - Open a Buy Trade
To Buy at current stock indexes price hit the Buy by Market button
To Sell at current stock indexes price hit the Sell by Market button
Setting Pending Indices Trading Orders
To Set a pending trade at another indices price, Change the “Type” option from “Market Execution” to “Pending Indices Trading Order” as shown below.
A menu list will appear and show the following options.
- Buy Limit Indices Trading Order
- Sell Limit Indices Trading Order
- Buy Stop Indices Trading Order
- Sell Stop Indices Trading Order
These options are shown below:
To learn how to set up these pending stock indices orders read the articles:
Once you select the type of pending stock indices order to place; then click the “Place” button as shown on the above screenshot to complete the setup.