how to place orders | Forex Factory

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how to place orders

  • #1
  • First Post: Mar 3, 2008 9:42am Mar 3, 2008 9:42am
In MT4 when you click on the new order tab the order window pops open. It has volume with a drop dpwn menu leting you select values from 0.1 , 0.2 ........1.0 ... 2.0 .......upto 8.0

Can any one tell me what these numbers mean? What quantity do they signify?

thanks
  • #2
  • Mar 3, 2008 9:48am Mar 3, 2008 9:48am
Quoting fugly
In MT4 when you click on the new order tab the order window pops open. It has volume with a drop dpwn menu leting you select values from 0.1 , 0.2 ........1.0 ... 2.0 .......upto 8.0

Can any one tell me what these numbers mean? What quantity do they signify?

thanks
Thats how many lots you want to buy/sell. .1= 1 mini, 1.0= 1 standard

If you haven't read the help manual for metatrader, it may help.

http://www.metaquotes.net/userguides
  • #3
  • Mar 3, 2008 10:47am Mar 3, 2008 10:47am
When placing a trade on say the EUR/USD

0.1 = $1.00
0.2 = $2.00
---
1.0 = $10.00
2.0 = $20.00

and any increment of 0.1 will work, say you want to place a Sell on the EUR/USD for 13 dollars US,, You would physically type in the value 1.3 into the "Volume" box.

Hope this helped
  • #4
  • Mar 4, 2008 5:49am Mar 4, 2008 5:49am
Thanks guys its definitely helped, just one more question, you've said 0.1 means a minilot (10k) and 1.0 means a standard lot (100k)

1)would they both signify the same thing irrespective of whether you have a standard account or a mini account.

2) FXmutant, thanks for your help just wanted to ask when you say -


"say you want to place a Sell on the EUR/USD for 13 dollars US,, You would physically type in the value 1.3 into the "Volume" box."

This will signify your dollar gain loss per pip for USD pairs right? For eg if after placing your trade you gain a pip this would mean you gain $13 right? Or does it signify the margin requirement for placing a trade of 1.3 lots?

Hope you don't mind my asking.
  • #5
  • Mar 4, 2008 5:59am Mar 4, 2008 5:59am
If you have a mini account, 1 = 1 mini lot
  • #6
  • Edited 8:55am Mar 4, 2008 8:52am | Edited 8:55am
Quoting fugly
Thanks guys its definitely helped, just one more question, you've said 0.1 means a minilot (10k) and 1.0 means a standard lot (100k)

1)would they both signify the same thing irrespective of whether you have a standard account or a mini account.

2) FXmutant, thanks for your help just wanted to ask when you say -


"say you want to place a Sell on the EUR/USD for 13 dollars US,, You would physically type in the value 1.3 into the "Volume" box."

This will signify your dollar gain loss per pip for USD pairs right? For eg if after placing your trade you gain a pip this would mean you gain $13 right? Or does it signify the margin requirement for placing a trade of 1.3 lots?

Hope you don't mind my asking.

Yes thats exactly right. Now depending on which pair your trading and which deposite currency your using this will vary by a few pennies but yup a "volume" of 1.3 will give you a gain or loss per pip of 13 dollars.

As for the ability to trade minilots, i have a standard account and i can still trade mini lots because my broker does not put a minimum volume per trade restriction on my trades. If you broker does you may get stuck trading a minimum of 10 bucks (100K contracts) and can add to that minimum in increments of 10K contracts i.e. .1, .2 etc... (ive never been with a broker that dose that)
  • #7
  • Last Post: Edited 11:36am Mar 4, 2008 11:35am | Edited 11:36am
thanks again fxmutant, blu and traderjai
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