How Do I Open and Close a Trade in MT5?

Created by Support Ridgecorp, Modified on Sat, 19 Oct at 1:39 AM by Support Ridgecorp

Opening a Trade:

Step 1: Open the Order Window:
- Right-click on a symbol in the Market Watch window and select ‘New Order’, or press F9.
- Alternatively, use the ‘New Order’ button in the MT5 toolbar.
Step 2: Select Trade Parameters:
- Choose the symbol (currency pair, stock, etc.) you want to trade.
- Enter the volume (lot size) you wish to trade.
- Set Stop-Loss (SL) and Take-Profit (TP) levels if desired.
- Select order type (Market Execution or Pending Order).
Step 3: Execute the Trade:
- Click ‘Buy’ if you expect the price to rise or ‘Sell’ if you expect it to fall.

Closing a Trade:

Step 1: Access the Trade Tab:
- Go to the ‘Trade’ tab in the Terminal window at the bottom of the MT5 interface.
Step 2: Select the Trade:
- Right-click on the open position you wish to close.
Step 3: Close the Trade:
- Click ‘Close Order’ or double-click the trade to open the order window, then click ‘Close’.