On the last tip we saw how to use the Standard Deviation Channel on Metatrader 4. Today, we will learn how to place Orders on MT4.
Symbol: The pair on which we will put the Market Order.
In the Order window:
Volume: The size of the lot. A lot equals to 100,000 units of the pair meant to be sold or bought. 0.1 lots equal 10,000 units.
Stop Loss: The value on wich our order will be closed in a loss situation.
Take Profit: The value on which our order will close in case of a profit situation.
Comment: Comments about the order.
Type: The kind of order. Instant Execution demands the order to be executed immediately. Pending Order is only executed when a certain market value is matched.
When buying, click on the blue BUY button.
If sellling, click on the red SELL button.
The two shown values indicate the BID value or the selling value and the ASK or buying value.