To place a trade on MetaTrader 4 (MT4), follow these steps:
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Open MetaTrader 4: Launch the MT4 platform and ensure you are logged into your trading account.
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Select a symbol: In the Market Watch window, locate the symbol (currency pair, commodity, index, etc.) you wish to trade. If the Market Watch window is not visible, you can open it by pressing Ctrl + M or navigating to View > Market Watch.
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Open the New Order Window: Right-click on the desired financial instrument in the Market Watch and select "New Order" from the context menu. Alternatively, you can click on the "New Order" button in the toolbar or press F9 on your keyboard.
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Configure Order Parameters: In the New Order window, set the following parameters:
- Symbol: This will automatically display the selected instrument.
- Volume: Enter the trade size (in lots) for your order.
- Stop Loss: (Optional) Specify a stop-loss level to automatically close the trade if it moves against you.
- Take Profit: (Optional) Set a take-profit level to automatically close the trade when it reaches your desired profit target.
- Order Type: Choose between Market Execution (to place the trade at the current market price) or Pending Order (to set conditions for future execution).
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Execute the Trade: After configuring your order parameters, click the "Buy" button to place a buy order or the "Sell" button to place a sell order.
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Confirm the Trade: After placing the trade, you can verify its status in the Trade tab of the Terminal window. This tab will show details of your open positions and any pending orders.
By following these steps, you can successfully place trades on MT4 and manage your trading positions effectively.
For more information:
https://oxsecurities.com/trading-platforms/metatrader-4/
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