Place and Set New Order on the Tools Menu in MT4 Platform

Find new buy or sell orders in the MT4 tools menu. The button to open trades sits below. Use shortcut keys F9 on your keyboard.

Setting a New Trade Order

For a stock index trader, selecting the 'new order' option, as shown above, will trigger the appearance of the following window popup. This panel contains all the necessary configurations for opening a new trade order.

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

Symbol - Specify the trading instrument to be transacted.
Volume - The Number of Lots to be traded and transacted
Stop Loss Stock Order - Set Stop Loss Order, This option can be set/placed after opening a trade, or for pending orders
Take Profit Stock Order - Set TakeProfit, This one can be set after placing a trade, or for pending orders
Type: Market Execution or Pending Order
Sell by Market - Open Sell Trade
Buy by Market - Open Buy Trade

To execute a purchase at the prevailing market quotation, activate the "Buy by Market" button.

To sell at the current stock price, click the Sell by Market button

Setting and Placing Pending Stock Orders

To place a pending order at a different price, switch the execution type. Change from Market Execution to Pending Order, as shown below.

A menu list will pop-up and show the following options.

Buy Limit
Sell Limit
Buy Stop Stock Order
Sell Stop Stock Index Order

These options are shown below:

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

Set buy limit and sell limit orders in MetaTrader 4.

Setting up Buy Stop Indices Order and Sell Stop Stock Index Order on Meta Trader Four

After you pick the type of pending stock order you want, just hit the "Place" button - like you see in the screenshot above - to finish setting it up.

Explore Further Programs and Mentor Material:

Trade Stock Indices

Place and Set New Order on the Tools Menu in MT4 Platform

Setting a New Trade Order

Setting and Placing Pending Stock Orders