How to place a trade in MT4
If you want to learn more about MT4 then you have come to the right place. After numerous requests, we have decided to write a couple of articles that are dedicated to teaching MT4 basics.
In this part, we will focus on how to place a trade in MT4. Knowing how to place a trade in MT4 can be a little tricky at first.
However, after you’ve opened up a few trades on your demo account (always start trading with a demo account) you should find it very easy and straightforward after a while.
Step 1: Find the New Order button
First of all, we will need to find the Standard Toolbar on our MetaTrader 4 platform…
The Standard Toolbar is the one that looks like the example below:
Then, on your Standard Toolbar, look for the button called “New order” (as seen in the example below). Once you have found the button go ahead and select it.
Whenever you want to select the New order window simply click this button.
After you selected the “New Order” button you should see the “Order” window open up on your chart as seen below…
Below is a breakdown of what the various input options on the New Order window mean…
Step 2: Select the type of order you want to place
After we have selected the basic settings for our order such as the Volume, Take Profit and Stop Loss etc. we need to decide whether we will take a “Market Execution” order or a “Pending Order”.
If you are not sure what the difference is between a Market Execution and a Pending Trade do not worry. Below is a brief explanation of the difference between a Market Execution order and a Pending order…
Placing a Market Execution order is by far the easiest way to open up a trade in MT4. Knowing how to place a Market Execution order in MT4 will save you a lot of time when you get the hang of it.
There are two ways how to place a Market Execution Order in MT4. We will only discuss the first way in this article.
The first way to open a trade uses the “New Order” window. The second way uses the “One Click Trading” buttons. In this article, we will look at the first one using the New Order window…
After you have filled in all of the required information on the Order window (see example above), you can simply click the “Sell by Market” button or the “Buy by Market” button…
Given these points, it should give you all the guidance on how to place a trade in MT4. Consequently, it might seem challenging at first, but after a couple of attempts, it will become a very easy task.
We hope that this MT4 tutorial has been helpful and useful to you. Furthermore, be sure to check out our blog for more articles like this one.
Our team has also developed a very comprehensive MT4 manual which teaches how to use MT4 in a lot of detail.
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