Place New Order in Tools Menu on MT4

A new order to buy or sell a trade can be found on the tools menu within the MT4 Platform. The button for placing a new trade transaction is shown below. (Keyboard Short Cut Keys "F9")

Placing a New Order

As a gold trader, once you select the new order button as illustrated 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:

1. Symbol - Specify the instrument to be traded.
2. Volume - The Number of Lots to be transacted
3. Stop Loss XAUUSD Order - Set Stop Loss Gold Order, This option can be set after opening the trade, or for pending gold orders
4. Take Profit XAUUSD Order - Set Take Profit Gold Order, This option can be set after opening the trade, or for pending gold orders
5. Type: Market Execution or Pending Gold Order
6. Sell by Market - Open a Sell Trade
7. Buy by Market - Open a Buy Trade

To Buy at current xauusd price hit the Buy by Market button

To Sell at current xauusd price hit the Sell by Market button

Setting Pending XAUUSD Orders

To Set a pending trade at another gold price, Change the "Type" option from "Market Execution" to "Pending Gold Order" as shown below.

A menu list will appear and show the following options.

1. Buy Limit Gold Order
2. Sell Limit Gold Order
3. Buy Stop Gold Order
4. Sell Stop Gold Order

These options are shown below:

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

Setting up Buy Limit Gold Order and Sell Limit Gold Order on MT4

Setting up Buy Stop Gold Order and Sell Stop Gold Order on MT4

Once you select the type of pending gold order to place; then click the "Place" button as shown on the above screenshot to complete the setup.