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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 ordersThe first and most common method of placing a tradeis to double-click a particular instrumentfor example, the currency pairEuro USDin the "Market Watch Window"Another method, is to click the "New Order" buttonin the toolbar menuor to right-click the chart, over a selected instrumentand select"New Order"And still another method, is to click "New Order"at "Tools", on the toolbaror simply press"F9" on your keyboardRegardless of which method you choosethe "Order Window" will appearFirst of all, make sure that the currency symbol you wish to tradeis displayed in the "Symbol" boxIn the "Volume" box, you must decide the size of your contractRemember that "Volume" 1for "Standard" a trading accountsis equal, to 100,000 unitsAs for "Micro" accountsvolume 1 is equal to1000 unitsYou can click on the arrow, and choose the volume from the listed optionsof the drop down boxor left-click in the "Volume" box, and type in the required valueThe minimum trade size, for both account typesis 0.01For "Standard Accounts", the minimum trade size is equal to1,000 unitswhile for "Micro" accounts the minimum contract sizeis equal to 10 unitsDon't forget that your contract sizedirectly affects your possible profit or lossThe "Comment" section is not obligatorybut you can use it to identify your tradesby adding commentsNext, we have the "Type" optionwhich 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 withWe will explain this order type(P.O)in more detailin another tutorial sessionFinally, you need to decide what order type to openYou can choose betweena "Sell"and a "Buy" order"Sell" orders are opened at "Bid" priceand closed at "Ask" priceIn this order type, your trade may bring a profitif the price goes down"Buy" orders are opened at "Ask" priceand closed at "Bid" priceIn this order typeyour trade may bring a profitif the price goes upOnce you click on either "Buy"or "Sell"you order will be instantly processedYou can view your active trades, in the "Terminal Window" "Trade" tabAll the orders that you place, obtain a unique number signatureYou can identify order types by colorred for "Sell" and blue for "Buy"Or you can check them, in the "Type" column, of the "Terminal Window" panelAnd now you can close an active orderif you double-click the pending order ticket number and selectthe close buttonOr if you right-click the required active orderin the "Terminal Window"Select "Close Order"and confirm it by pressing again the "Close" tab buttonYou will get to know more details about these panelsin, a separate tutorial sessionThank you for watching
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