How to open a deal on Forex.

In the previous lessons in the “ ABC of Forex ” section, we covered almost all the preparatory aspects of trading, now it’s time to move on to starting trading.

Opening a Forex transaction is quite simple, especially if you already have a trader terminal installed and a demo account is registered.

It is best to study technical aspects on a demo account; its operation is no different from a real one, but you are completely insured against errors.

Opening a new deal in MetaTrader 4.

The easiest way to open a new deal is to press F9 in the running trader’s terminal, but you can also click on the tab labeled “New order” in the top menu of the program.

After this, a window appears in which you set the parameters of the new position. 1 - Select the currency pair for which we will open a transaction; by default, the active chart pair is immediately displayed in the window.

2 - The volume of the transaction in lots is set taking into account the available funds and leverage, for example, to open a transaction of 1 lot, $100,000 is required.
You have a leverage of 1:100 on your account 500, which means about $50,000 is available, so we open a trade with a volume of 0.5 lots. If you receive a refusal, simply reduce the volume of the transaction.

3 - Stop orders, here we enter the stop loss and take profit , when they are triggered, the deal will close automatically.

4 - Type of transaction (immediate execution or pending order), with immediate execution the transaction will open immediately, with a pending order only if the specified parameters are triggered.

Read about the types of Forex orders in the following article. 5 - Sell or Buy sale or purchase, when you press one of the buttons, an order is opened: Sell - sale, Buy - purchase.

6 - Maximum deviation - when using this function you can significantly reduce the number of requotes , but the order will open a little further than the stated price.

That is, you click Buy at a price of 1.3545, the deviation is set to 2 points, at this time the price has risen to 1.3547, but your order will still be opened. If this function is disabled, you will receive a refusal and an offer to open a deal at a new price. These are practically all the settings that you will have to perform in order to open a deal on Forex. After clicking Sell or Buy, the "Trade" tab will display your open order and its description.