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

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

Placing a New Order

As a trader, once you select the new order button key as illustrated & displayed above the following pop up panel will pop-up. This pop up includes all the settings for opening new 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 - Set Stop-Loss, This option can be set after opening a trade, or for pending orders
4. TP Order - Set TP Order, This option can be set after opening a 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 prevailing price hit the Buy by Market button

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

Setting Pending Orders

To Set a pending at another 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 illustrated below:

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

Setting up Buy Limit Order and Sell Limit Order in MetaTrader 4

Setting up Buy Stop Order and Sell Stop Order in MetaTrader 4

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