When I try to open or modify a trading position MetaTrader 4 shows «Trade is disabled». Why ?

Possible reasons:

1. Most probably the trading session on this instrument is already over or hasn´t begun yet. The trading session schedule you may find in the contract specification for each instrument separately.

2. May be the future contract expires soon. It is called the Expiration date.Depending on the liquidity of the instrument some time before the Expiration date «close only» trading is available for the instrument (close of open positions only). Another future contract with a different ticker is introduced for trading instead the one traded as «close only». Several days before the «close only» trading notifications are sent by the inner mail of MetaTrader, see the chart:

3. When the price reaches the current price of the pending order the total volume and number of the simultaneously opened positions and pending orders are checked. A pending order will be deleted from the queue to be executed in the following cases:

 •the order volume and the volume of the previously opened positions exceed the total volume restriction.

 •restriction of the total number of the simultaneously placed pending orders and open positions is broken.