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Video XM.COM - MT4 Tutorials - Placing Orders in MT4 (Forex broker mt)

A step by step video tutorial on how to place orders in the MT4. A full guide that will help you understand how you can place orders in MT4.


Chapter 3
- "Placing Orders" -

In this tutorial, we will show you the various methods of placing orders

The first and most common method of placing a trade
is to double-click a particular instrument
for example, the currency pair
Euro USD
in the "Market Watch Window"

Another method, is to click the "New Order" button
in the toolbar menu
or to right-click the chart, over a selected instrument
and select
"New Order"

And still another method, is to click "New Order"
at "Tools", on the toolbar

or simply press
"F9" on your keyboard

Regardless of which method you choose
the "Order Window" will appear

First of all, make sure that the currency symbol you wish to trade
is displayed in the "Symbol" box

In the "Volume" box, you must decide the size of your contract

Remember that "Volume" 1
for "Standard" a trading accounts
is equal, to 100,000 units

As for "Micro" accounts
volume 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
is 0.01

For "Standard Accounts", the minimum trade size is equal to
1,000 units
while for "Micro" accounts the minimum contract size
is equal to 10 units

Don't forget that your contract size
directly affects your possible profit or loss

The "Comment" 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 Execution", is the model of executing orders at the current market price

"Pending Order"
is used to set up a future price, that you intend to open your trade with

We will explain this order type
(P.O)
in more detail
in another tutorial session

Finally, you need to decide what order type to open

You can choose between
a "Sell"
and a "Buy" order

"Sell" orders are opened at "Bid" price
and closed at "Ask" price

In this order type, your trade may bring a profit
if the price goes down

"Buy" orders are opened at "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"
you order will be instantly processed

You can view your active trades, in the "Terminal Window" "Trade" tab

All the orders that you place, obtain a unique number signature
You can identify order types by color
red for "Sell" and blue for "Buy"

Or you can check them, in the "Type" column, of the "Terminal Window" panel

And now 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 button

You will get to know more details about these panels
in, a separate tutorial session

Thank you for watching

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