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

A new order to buy or sell a trade position can be found on the tools menu within MT4 Software. Button for opening a new trade is illustrated below. (key-board Short-cut Keys "F9")

Placing a New Order

As a xauusd trader, once you select the new trade order button option key as illustrated & displayed above the following pop up window will pop up. This popup includes all the settings for opening new order.

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

Symbol - Specify the financial instrument to be transacted.
Volume - The No. of Lots to be transacted
Stop Loss Order - Set Stop Loss, This one can be set/placed after placing a trade position, or for pending orders
Take Profit Order - Set TP, This option can be set/placed after placing a trade position, or for pending orders
Type: Market Execution or Pending Order
Sell by Market - Open a Sell Trade
Buy by Market - Open a Buy Trade

To Buy at prevailing market price hit the Buy by Market button

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

Setting Pending Orders

To Set a pending 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

These options are illustrated below:

To learn and know 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 order to place: then choose and click the "Place" button as illustrated on the above screen shot to complete the setup.

Study More Topics & Lessons:

Trade Gold Trading

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

Placing a New Order

Setting Pending Orders