To place a trade in MetaTrader 4, select a chart of a currency pair, then click the new order button that is located in the standard toolbar.
Alternatively, you can go to the Market Watch window, locate the currency pair, right-click it and select “new order”:
After that, you will get the following window:
Make sure to verify the order details:
- Symbol: refers to the currency pair or financial instrument that you would like to trade.
- Volume: make sure to select a proper volume according to your risk and money management strategy.
- Stop Loss and Take Profit: enter the values if you have some predefined levels. If not, we will explain below how you can add them after your order has been placed.
- Comment: feel free to add any observation in regards to this particular trade, it could be something related to your trading analysis or strategy.
- Type: you can either select Market Execution (instant orders) or Pending Orders (more on this below).
Then, you will need to click the Sell or Buy button. Please consider that if you are placing a Buy order, this will be done at the Ask or higher price. In contrast, if you would like to sell the currency pair, the order will be placed at the Bid or lower price. After you place an order, you should get a confirmation message like the following: