To place trades in MT5, traders have two main options to choose from:
1) Using the Market Watch window
2) Using the 'New Order' button in the toolbar.
Here’s how:
Placing Market Orders:
1. Open the Order window by double-clicking or right-clicking on the instrument in the Market Watch window.
2. In the Order window, adjust the lot size and set a Stop-Loss or Take-Profit. If the Stop Loss or Take Profit is too close to the current price, an "Invalid SL or TP" notification will appear.
3. Use the 'Symbol' field to select the instrument you want to trade from the drop-down list. A tick chart on the left displays real-time prices.
You can also add comments in the Comments field when placing a trade.
Placing Pending Orders:
1. Click 'New Order' or press the 'F9' key.
2. Ensure the order type is set to "Pending Order."
Modifying a Pending Order:
1. Right-click or double-click the Pending Order.
2. Select 'Modify or Delete Order'.
3. Adjust the entry price, Stop Loss, and Take Profit levels as needed.