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 S/L or T/P" 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.