Now, when you are familiar with using XM MT4 trading platform, it is about time to learn how to place orders. When you receive your first Free Forex Signal through SMS, you may want to take advantage of that and place your order immediately. Let us show you how to do that. If you receive a Free Forex Signal to place a 'buy' order on GOLD, here is what follows:
1. Open a chart of GOLD:
On your XM MT4 platform go to Market Watch on your left and choose GOLD (or GOLDmicro if you are a 'Micro' trading account holder). Right click on it and choose Chart Window. This chart for GOLD will appear in the center of your trading platform.
2. Activate One Click Trading
Right click on the shown-up chart and choose One Click Trading, thanks to which you are able to place an buy and/or short orders on your XM MT4 platform in less than a second with just one click.
Risk Warning: pay attention to the risk disclaimer regarding using One Click Trading and make sure you are familiar with it.
3. Place an order
Everytime you receive Free Forex Signal via SMS, be ready to place a correct order as soon as possible. Make sure you learned basics of Money Management and you put correct size of position (in lots) on the One Click Trading application on your XM MT4 platform.
Whenever you receive a Free Forex Signal to buy GOLD, you just go to your GOLD chart and click on the BUY button. The same things happens when you receive a signal to sell GOLD - you just click on the SELL button. In both cases an order will be executed within less than a second.
4. Close an order
Except Free Forex SMS Signals to open positions, you are also receiving messages to close previously opened trades. If you receive e.g. a message: "CLOSE: buy GOLD", then you may want to close previously placed BUY order on GOLD.
In the Terminal (bottom of your XM MT4 platform) in the tab Trades find your BUY order on GOLD, right click on it and then select: Close Order.
You can also close this position on a Chart Window. Go to GOLD Chart Window, right-click on the green line (that defines at what price you placed an order) and select: 'Close #[your order ID]'.
In both cases your close order on XM MT4 platform will be executed in less than a second.
Now you may want to know how to place and close pending orders.