The hardest part of a journey is taking the first step. We’re here to help you take that step! Follow our guide on how to open your first Forex order. This guide applies to both demo and real accounts; if you feel unsure about your abilities, we recommend practicing on a demo account first. You may visit http://www.arabforex.pro/en/oman/ if you need to find brokers in Oman that provide demo accounts.
1.Log-in to MetaTrader 4 (MT4).
2. Select the currency pair you wish to trade when you start trading online in Oman.
A list of all currency pairs available for trading is in the window on the left. The most popular trading pair in the Oman forex market is EUR / USD. Click and drag to the chart window.
3. Open the order
On the toolbar above, click “New Order”. You will see the most essential windows with various settings such as Volume, Take Profit and Stop Loss. We will cover these parameters in the next article, so for now you are only going to buy and sell with the basic settings: Stop Loss and Take Profit are very crucial for Oman forex traders, but we will discuss more them later. For order volume, choose one that is commensurate with your balance, where 1 standard lot is $ 100,000.
In this guide, we open sell orders for EUR / USD. After the order is opened, you will see the order information in your MT4 window.
4. Close the order
Wait for the trade to show your desired profit. While you are still practicing, try to close orders with a small profit in a few minutes. There are many ways to close an order. You can do this by double-clicking on the order or pressing X next to your profit.
You will see a pop-up window: close your order there.
Order history and profit are visible in the History folder
Hopefully, this article was useful, and that you are ready to take that first meaningful step towards becoming a successful forex trader in Oman.