Placing a trade in MT5
There are several ways to access the trade screen. Of the following options, find a style that works for you:
On menu bar, click Tools > New Order; OR
Double click on the desired pair on the Market Watch window; OR
Right click on the desired pair on the Market Watch window and select New Order; OR
In the lower Terminal, right click on the Trade tab and select New Order; OR
All methods above will display the following screen:
The order screen contains a tick chart on the left hand side and the order details on the right hand side. In the tick chart, the blue line represents the Bid price and the red line represents the Ask price.
In MetaTrader, 1.0 equals 100,000 units and .10 equals 10,000 units.
The order details options available are:
Symbol – this is the desired pair/instrument you wish to trade in (below example USDJPY)
Volume – quantity you wish to trade. (In this case, 100,000 USD)
Stop Loss and Take Profit options are not available on “Market Execution” orders. Pending orders, where these options are available, will be explained in the following section
Comment – any notes you wish to place regarding the trade
When all the parameters are set, depending on the position you wish to take, click the ‘Sell by Market’ button or ‘Buy by Market’ button. Once you place your order, Vantage FX will confirm your trade has been executed. The order screen will look like the image below and your position will now be listed in your Trade tab in the Terminal window.