Placing Orders on MT5

Trade Futures with Precision

1. Opening a New Order
To open a new order on MT5, you have several options. You can go to the Tools menu and select New Order, or you can use the menu bar and click on New Order. Another way is by right-clicking on your product in the Market Watch and selecting New Order. The quickest method is simply by double-clicking the product you want to trade.

2. Using One-Click Trading
If you prefer a faster method, you can enable One-Click Trading. To do this, go to the Trading tab. Additionally, if you right-click on the Chart, you can select New Order to place trades directly from the Chart. This method allows you to trade quickly without navigating through multiple steps.

3. Placing and Managing Orders
When placing an order, right-clicking on the gray area of the order ticket brings up a chart that shows the current price. From here, you can set and adjust your Stop Loss and Take Profit directly on the chart. If an error is made while setting these orders, the system will flag it as invalid, allowing you to correct it before submission.

4. Monitoring Your Position in Toolbox
After placing your order, you can monitor your position under the Toolbox. The Exposure tab shows your lot size, Stop Loss, and Take Profit. To amend or close a position, simply double-click the order, make the necessary adjustments, and either resubmit or close the position.

5. Depth of Market Overview
Next, let’s explore the Depth of Market (DOM). The Level 1 data shows the best bid and ask prices, also known as Top of Book. The other bid and ask prices are part of Level 2 data, known as Depth of Market. From the DOM, you can place orders, including Stop Loss and Take Profit, directly and monitor the market’s liquidity levels.