How to Open a New Trade in MT5
Opening a trade in MetaTrader 5 (MT5) is one of the first skills every trader should learn. MT5 offers several ways to place an order, allowing you to choose the method that best fits your trading style.
Table of Contents
Use the New Order Button
The New Order button is the easiest way to place a trade and is recommended for beginners.
Steps:
Click New Order on the toolbar.
Select the trading instrument.
Enter your lot size.
(Optional) Set your Stop Loss and Take Profit levels.
Click Buy by Market or Sell by Market.
This method lets you review all your order details before executing the trade.
Open a Trade from Market Watch
The Market Watch window displays all available trading instruments.
Steps:
Right-click the instrument you want to trade.
Select New Order.
Enter your trading details.
Click Buy or Sell.
This is a quick option when switching between different markets.
Use the F9 Shortcut
If you prefer keyboard shortcuts, simply press F9 to open the Order window for the selected instrument.
Enter your trade details and execute the order as usual.
Open a Trade with One-Click Trading
One-Click Trading lets you place market orders instantly from the chart.
Steps:
Enable One-Click Trading in MT5.
Open "Tools" then click "Options", then go to the "Trade" tab, and make sure "One Click Trading" is enabled.
You can show and hide the "One Click Trading" by either clicking on the small symbol on the top left of the chart. Or you can right-click on the chart, then click "One Click Trading".
Open a chart.
Select your lot size.
Click Buy or Sell.
Note: Orders are executed immediately, so always verify your lot size before clicking.
Trade Directly from the Chart
If you're already analyzing a chart, you can place a trade without leaving it.
Steps:
Right-click anywhere on the chart.
Select Trading > New Order.
Enter your trade settings.
Place the order.
This keeps your analysis and execution in one place.
Open a Trade from the Toolbox
The Toolbox window allows you to manage your account and place new trades.
Steps:
Press Ctrl + T to open the Toolbox.
Go to the Trade tab.
Right-click inside the window.
Select New Order.
Complete the order details and execute the trade.
MT5 Order Types
When opening a trade, you'll choose between two main order types.
Market Order
A Market Order executes immediately at the current market price. It's the best option when you want to enter a trade without delay.
Pending Order
A Pending Order executes automatically when the market reaches a specified price.
MT5 supports six types of pending orders:
Buy Limit – Buy below the current market price.
Sell Limit – Sell above the current market price.
Buy Stop – Buy above the current market price after a breakout.
Sell Stop – Sell below the current market price after a breakdown.
Buy Stop Limit – Places a Buy Limit order after the price reaches a higher stop level.
Sell Stop Limit – Places a Sell Limit order after the price reaches a lower stop level.