metatrader.info

Hi folks,

MetaTrader is the platform which enable you to send your orders to the brokerage to Sell or But a currency pair.

Today we are going to place our first order in MetaTrader.

 

Placing your first order step by step:

Step 1:

Load your instance of MetaTrader and log to your account (MetaTrader will automatically log to your default account).

Step 2:

To place an order (Sell or Buy) you have to open the Order window (Figure 1).

 

Figure 1 

There are a lot of methods to open the Order window:

You can press F9 hot key.
You can right click the chart of the currency you want to Buy/Sell it and choose New Order from the contest menu that will appear (Figure 2).
You can right click the Market Watch window on the currency you want to Buy/Sell and choose New Order from the contest menu that will appear (Figure 3). or you can double click this currency.

 

Figure 2 

 

Figure 3 

Step 3:

Now, in the Order window (Figure 1) you see two buttons: Sell and Buy button. you have to decide you want to Sell or Buy the currency and click the appropriate button.

In the Buy order the ASK price used to open the order and in the Sell order the Bid price used to open the order.

As you can see in figure 1 the New Order window you can set these options:

Symbol list: Clicking this list drops down a list with all the currencies pair which you can use from it the currency you want to open the New Order for.

Volume list: this list drops down a list with predefined volumes you can choose from them the volume of the New Order.

Note: Volume here means the Lots value.

Stop Loss combo: A combo box with up and down arrows enables you to set the Stop Loss level for the New Order. Use the up and down arrows or write the value of the Stop Loss in the text box. It’s optionally to set a Stop Loss level.

Take Profit combo: A combo box with up and down arrows enables you to set the Take Profit level for the New Order. Use the up and down arrows or write the value of the Take Profit in the text box. It’s optionally to set Take Profit level.

Comment field: Type here the comment text you want to assign to the New Order. It’s optionally to set the Comment field for the New Order.

Type list: You can choose from this list one of these two options:
Instant Execution;
Pending Order.
You have to choose Instant Execution because you want to make a Buy/Sell instantly.

Sell button: Click this button if you want to open a Sell order. Clicking the Sell button will close the New Order window and send the instructions to the broker.

Buy button: Click this button if you want to open a Buy order. Clicking the Buy button will close the New Order window and send the instructions to the broker.

Enable maximum deviation from quoted price option: Enable this option if your server uses price deviation. Enabling this option will activate the list of Pips you can select from it the value of the maximum deviation.

Maximum deviation list: Select the maximum deviation pips value.

I chose to buy the EURUSD so I clicked the Buy button and this was the result (Figure 4).

Clicking Ok will place the order (send it to the broker) and you will can watch your profits or loss in the terminal window as shown in figure 5.

 

Figure 4

 

Figure 5