If you want to trade by specifying the Forex exchange rate, you will execute “Market Order" from the MT4 trading application.
Placing a market order within 3 simple steps.
Process of placing a market order
Step 1: Choose a preferred currency pair
Choose a currency pair that you want to trade from the free Forex “MT4” app.
Select the preferred currency pair from MT4 → Tap “Trade"
Step 2: Tap “Market Execution"
Tap on “Market Execution" shown on the order screen
Select the order you want to place from 4 orders “Buy Limit" “Sell Limit".
- Buy Limit
Decide to buy at prices lower than current prices
Place a buy limit order if the price falls to a certain level
- Sell Limit
Decide to sell atprices lower than current prices.
Place a sell limit order if the price falls to a certain level.
- Buy Stop
Decide to buy at prices higher than current prices
Place a buy stop order if the price rises to a certain level
- Sell Stop
Decide tosell at prices higher than current prices.
Place a sell stop order if price rises to a certain level
Step 3: Select trading volume, set the order value
Select trading volume,set the order value. Beside selecting the value, you can also input the number
You can place an order if you tap on “Place".
If you cannot tap “Place order" because the screen turns grey, there are two reasons, first is that you are setting the value too close to the current value, second is that you might place an order incorrectly
So, the market order process has been complete.
At the same time, you can also set the date and set “Cut loss (loss limit value)" “Profit taking (profit taking value)".