Place New Order on Tools Menu on MT5 Platform Software
A new order to buy or sell a trade can be found on tools menu within MetaTrader 5 Software. The Button for opening a new trade is shown below. (Key-board Shortcut Keys 'F9')
Placing a New Order
As a gold trader, click the new order button like shown. A pop-up appears with all details for the order.
The Following Settings are specified for placing & setting a new order:
- Symbol - Specify the financial instrument to be transacted.
- Volume - No. of Lots to be transacted
- StopLoss Order - Set StopLoss Order, This option can also be set after registering and opening a trade, or for pending orders
- TP - Set TakeProfit Order, This option can also be placed after registering and opening 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 Buy at present price hit the Buy by Market button
To Sell at current price hit the Sell by Market button
Setting Pending Orders
To Set and Place a pending order at another price, Change the 'Type' option from 'Market Execution' to "Pending Order" as shown below.
A menu list will pop-up & explain the following options.
- Buy Limit
- Sell Limit
- Buy Stop
- Sell Stop
The options are shown below:
To learn how to setup these pending orders read lessons:
Configuring Buy Limit Orders and Sell Limit Orders on the MT5 Software Platform
Establishing Buy Stop and Sell Stop Orders within the MT5 Environment
Once you choose the type of pending order to place: then tap and click the 'Place' button just as is shown on the above screen shot to complete the setup.
More Guides and Courses:
- Islamic Gold Account
- How to Use Gold Trend line Analysis in Gold
- Types of XAU/USD Methods and Gold Strategy Methods
- How Do You Trade the Difference between Gold Stop Entry Gold Order and Stop Loss XAU/USD Order?
- How Do I Load MetaTrader 5 Chart Template on MetaTrader 5 Trading Software
- MetaTrader 4 Transactions Tabs Panel Window
