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How do I place a new order In Forex Trading

Volume Lot and Size In Forex Trading?

When you’re going to start forex trading you should know when and how to place fast order when you see any type of indicators appears in your live trading account.



Let’s just started

There are two fast ways to place a new order. We will discuss both in below

When you got your demo or live account in meta trading plat form. Simply login in your account
through your broker meta trading plat form once you would open your account there is a page appears on your screen. You would probably see currency’s pair at your left hand side and

Currency’s live chart at your Right hand side.

First you need to go your left hand side where currency’s pair are showing but they are few. We want all currency’s pair so this way we can trade better at our own favorite currency pair.

We make the following changes below.

We go to the currency’s pair and press right button of our mouse and hit show all. Now we got all the currency’s pair.

Now select your most favorite currency pair and press right click on it and hit chat window similarly we will select at 10-12 currency’s pair to start trading. We will never rely on one currency’s pair.

Now maximize any currency pair now you will see all the currency’s charts you have selected.

 

You would probably see your selected currency’s pair in line chart.

Follow these steps to make your currency’s chart more easy and readable.

Right click on the in the middle of the line chart and hit properties.

Change the color of Bullish Candle to Green And Bearish Candle to Red.

Go to the common dialog Box and hit Candlesticks

.


Now Zoom it

Do the same for all the currency’s pair you have selected.

Now I will teach you how to place a new order of any currency’s pair in a fast way.

There are two fast ways that you can used while you are trading in your live account in order to make good profit at your time.

As you have selected 12 currency’s pair and you are probably have 12-15 currency's pair your meta plat form.You need to select any currency by clicking their chart then all you need to do is Press "F9"

OR Press New Order at the up side of the right hand side.

 

 

 

This way we could easy place our orders where we want it.


Here I would like to tell you about Volume which is also known as Lot or Size.

Volume:

We also name it Lot and Size. When you are going to place a new order your broker want to ask you how much amount or money you want to put for that particular order.

I strongly recommend you to start with 0.02 Lot or Maximum 0.5 Lot. It means you don't have to put more than 0.2% of your assets in that particular order.

Anyhow go the basic course and find this topic there you will see enough information about this.

In my next Blog I will teach you how to place pending order with Stop Loss And Take Profit

Happy Trading!!