Place New Order in Tools Menu On MT4 Platform
A new order to buy or sell a trade can be found on the tools menu within the MetaTrader 4 Platform. The button for placing a new trade transaction is shown below. (Short Cut Keys “F9”)
Placing a New Order
As a trader, once you select the new order button as shown 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 indices trading instrument to be traded.
- Volume – The Number of Lots to be transacted
- Stop Loss – Set Stop Loss, This option can be set after opening the trade, or for pending indices trading orders
- Take Profit – Set Take Profit, 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 price hit the Buy by Market button
To Sell at current 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
- Sell Limit
- Buy Stop
- Sell Stop
These options are shown below:
To learn how to set up these pending indices trading orders read the articles:
Once you select the type of pending indices trading order to place; then click the “Place” button as shown on the above screenshot to complete the setup.