Placing a Market Execution Order
Posted on: 21 July 2014 , by: Pepperstone Support , category: MetaTrader 4
Placing a market execution order is widely used in the forex market. It is the most simple way of opening a trade. By completing this method, you are opening a trade at the time of the completion of the order at the current market price. The order is then sent into interbank market to be filled.
In the "Market Watch" window of the MetaTrader 4 platform, follow these steps to place a market execution order:
1: Double click on any currency pair you would like to trade.
2: The "Order" window will appear. Update all fields related to your market order such as the volume (trade size).
3: Click "Sell by Market" or "Buy by Market" to submit your order to be executed at the best available price.
4: Once executed, the order will display in the "Trade" tab of the Terminal window.
In the trade tab you can make modifications to open orders by right clicking on an open order and choosing Modify or Delete Order. Under Modify and Delete Order you will be able to specify a stop loss and take profit for your trade.