HOW TO OPEN & CLOSE ORDERS ON METATRADER4 FOREX TRADING PLATFORM

Dear traders, this post is written for beginners to introduce the ways of opening and closing the orders on metatrader4 forex trading platform. Metatrader4 is the most widely used forex trading platform offered by almost every forex brokers. The first way of opening an order on metatrader4 trading platform is placing orders directly on the chart window.

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To place an order directly on the chart window of a currency pair, click right button of the mouse on the chart window of the currency pair you want to place an order. You will see new order menu just click on it. You can do the same thing with short keyboard command F9.A new window will be open as below.

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From the above window, you can select or change the currency pair, select the lot size you want to trade, and order type. Order type has to be Market Execution if you want to place the order immediately. After selecting these options click on the sell by market to place a sell order or click on the buy by market to place a buy order. Your order will be shown in the order list or trade menu. Another easy way of placing an order is one click order. One click order can be place as shown in the image below.

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One click order placing is the easiest way of placing an order. On the chart window of every currency pair an arrow key exists, this key opens order placing options as in above image. Just select your lot size and click on the buy or sell button. You can also place an order clicking the right button of the mouse on the currency pair shown on the market watch window. To close an order have look at the images below.

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Closing an order is easy. To close an order easily you can press on the close button at the right hand side of the order shown in trade menu. Order can be also closed clicking the right button of the mouse on the order shown in order list. Even an order can be closed clicking the right button of the mouse on the order line representing the order on the chart window.