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Advanced MT4 Training - Placing Order
a successful foreign exchange trader knows when to bid and went to ask
in this tutorial we will examine the steps involved in making frayed actions
on a forex trading demo account
profits are made on the forex market went to trader successfully bids or asks
on a trading position selling high-end buying low as a golden standard when
examining the action of a successful foreign exchange trader in order to
create bid or ask actions you will need to know how to place an order for this
tutorial we will be using a forex trading demo account to help you become
familiar with how trading actions work
once you are ready you will be able to move to Real trading account and begin
making profit on the forex market the way a bit or ask action is initiated is
referred to as placing an order
there are various methods of placing orders the first and most common method
of placing a trade order is to double-click a particular currency pair
for example the euro USD in the MarketWatch panel
another method is to click the new button on the toolbar menu and still
another method is to click new order under the tools tab on the toolbox
window will simply press f9 on your keyboard
regardless of which method you choose the order window will appear
this window is arguably the most important one for any foreign exchange
trader on the market
the information entered he will determine the amount of trading volume
this translates to the amount of potential profit or loss on that
particular trade
first of all make sure that the currency simply wish to trade is displayed in the
symbol box in the volume box you must decide the size of your contract
remember that volume 14 standard trading accounts is equal to 100,000 units as
for macro accounts vol 1 is equal to 1000 units you can click on the arrow
and choose the volume from the listed options of the drop down box or left
click in the volume box and type in the required value the minimum trade size
for both account types

of 0.01 for standard accounts this minimum size is
equal to 1000 units while for macro accounts the minimum is equal to 10
units
don't forget that your contract size directly affects your possible profit or
loss
the comments section is not obligatory but you can use it to identify your
trades by adding
comments next we have the type option which is set to market execution by
default market refers to executing orders at current market price pending
order i used to set up a future price that you intend to open your trade with
pending orders are a more advanced technique in placing order so we will
explain this in another tutorial
finally you need to decide what order type to open you can choose between a
cylinder by order sell orders are opened at bid price and close did ask price in
this order type your trade may bring a profit if the price goes down by orders
are opened ask price and closed at bid price in this order type your trade may
bring a profit if the price goes up
once you click on either buy or sell your order will be instantly processed
you can view all active trades in the terminal window trade tab all the orders
that you place obtain a unique number signature you can identify order typed
by color red for sale and blue for by or you can check them in the type column of
the terminal window panel you can close an active order if you double-click the
pending order ticket number and select the close button or if you right-click
the required active order in the terminal window select close order and
confirm it by pressing again the close tab guard
you'll get to know more details about these panels in a separate tutorial
session on placing trade order on your forex trading demo account once you
become familiar with operating trades he'll be able to move on to real forex
account and begin making profit.

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