How to place a market order in MT4
- Using the Market Watch Window: Right-click on the desired instrument in the Market Watch window and select New Order.
- Using the Toolbar: Click the New Order button located in the main toolbar.
To trade instantly, select ‘Market Execution’ in the ‘Type’ field, choose the instrument and volume (lots), then click ‘Sell by Market’ or ‘Buy by Market’ to place the order.
The ‘Symbol’ field in the ‘Order’ window allows you to change the instrument you are trading, using a drop-down list. On the left is the corresponding tick chart displaying the prices in real-time. There is also a comments field that allows you to add a comment when placing the trade.
You can also have the option of setting a Stop Loss and Take Profit on your orders. This can be done by filling out both relevant fields in the ‘Order Window’.
Please note: If a Stop Loss or Take Profit is set too close to the current price, a notification message "Invalid S/L or T/P" will be shown.
Once placed, the open position will appear in the ‘Trade’ tab of the terminal.
How to place a pending order
- Using the Market Watch Window: Right-click on the desired instrument in the Market Watch window and select New Order, then select the order type Pending Order in the Order Window.
- Using the Toolbar: Click the New Order button located in the main toolbar, then select the order type Pending Order, in the Order Window.
You can also have the option of setting a Stop Loss and Take Profit on your orders. This can be done by filling out both relevant fields in the Order Window.
IMPORTANT: If the settings of an order that you placed were wrong, you will not be able to place the order. The place button will be grey, until your parameters of the order are valid.
Fill in the details of the order you want to place and then click the Place button.
Once a trade has been placed, you can find it by clicking on the Trade tab located in the Terminal window.
For more tips, please refer to our MT4 Video Tutorials.
Placing a Trailing Stop