Place New Order on Tools Menu on MetaTrader 4 Software

A new order to buy or sell a trade can be found on the tools menu that is found in the MT4 Platform. Button key for placing a new trade is displayed below. (ShortCut Keyboard Keys 'F9')

Placing a New Trade Order

As a trader, once you choose the new order button as depicted above the following pop up window panel will pop-up. This pop-up window panel includes the settings for placing a new trade order.

The Following Settings are specified for setting & placing a new order:

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

To Buy at current price hit Buy by Market button

To Sell at current price hit Sell by Market button

Setting Pending Orders

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

A menu list will pop-up and show the following options.

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

These options are shown below:

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

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

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

Once you choose the type of pending crude trade order to place: then select and click the 'Place' button as shown on the above screenshot to complete the setup.