Placing Orders in MT5 on PC: A Fast Guide to Boost Your Trades

 In my previous article, I guided you on how to view the MT5 screen. In this article, I will help you understand in more depth about how to place orders on the MT5 trading platform. The ways to place buy and sell orders on the MT5 trading platform, as well as guide you on how to manage open orders on this platform.

4 Ways to Place Orders or Trade on the MT5 Platform

Method 1: Use the New Order Icon

You can click on the "New Order" icon on the toolbar to open the Buy or Sell order window.

Method 2: Right Click on the Chart

Right click on the chart, select "Trading", and then select the type of transaction you want to perform.

Method 3: Use the F9 Shortcut

Press the F9 key to quickly open the order window. When you get used to this shortcut, placing orders will become faster and easier.

Method 4: One Click Trading Feature

To enable this feature, go to "Tools" > "Options" > "Trade" and select "One Click Trading". This feature allows you to place an order with just one click, but you should use it carefully and only when you fully understand the process.

Or right click to select One Click Trading.

Now the price chart screen has the form:

At this point, you can easily place orders with just one tap.

Detailed Guide on How to Placing Orders in MT5 on PC

MetaTrader 5 (MT5) is one of the most popular trading platforms currently, providing various order placement methods to support traders. In this article, we will go into detail about how to place orders on MT5, including market orders, limit orders, stop orders and Stop Limit orders, along with illustrations to help you easily understand and perform them.

Direct order placement with MT5 - Market/Market Execution Order

A Market Order or Market Execution Order allows an immediate transaction to be executed at the current market price without specifying a price.

On the PC version of MT5, the "Market Execution" item will appear, while on the smartphone version of MT5, the "Instant Execution" item will be displayed.

In the order placement window, both on PC and mobile, you need to select and fill in all the following parameters to place an order:

• Symbol: The currency pair, commodity or product you want to trade.
• Volume: The transaction volume.
• Stop Loss: The price level at which you want to cut losses.
• Take Profit: The price level at which you want to take profits.
• Type: Select Market Execution.

By choosing the "Sell by Market" or "Buy by Market" button, the order will be executed immediately.

Pending Order - Limit Order (Buy Limit and Sell Limit)

A limit order is an order placed by specifying a specific buy or sell price. You can use this order to buy when the price drops to a certain level or sell when the price rises to a certain level.

For example, if the current USD/JPY exchange rate is 100 Yen per US dollar, you can place an order to "sell when the exchange rate reaches 101.00 Yen" or "buy when the exchange rate reaches 99.00 Yen".

There are 2 types of pending orders: Buy Limit (buy limit) and Sell Limit (sell limit).

• A Buy Limit order is a pending buy order used when you forecast that the price will rise in the future, but before rising, the price may first drop. Therefore, you set a Buy Limit order to buy at a lower price than the current market price, in order to have the opportunity to buy goods at a better price.
• A Sell Limit order is a trading order placed when you forecast that the price will fall in the future, but before falling, the price may rise higher than the current level. Therefore, you use a Sell Limit order to sell at a higher price, and when the price falls as you predicted, you can gain a higher profit.

How to place Buy Limit and Sell Limit orders:

• Choose "Buy Limit" if you want to buy when the price drops lower than the current price.
• Choose "Sell Limit" if you want to sell when the price has risen higher than the current price.

Enter the desired price level into the price specification box.

In case the order cannot be placed because the placement button turns gray:

If you select a Buy Limit order, you need to specify a price lower than the current price. The order cannot be placed if you enter a price higher than the current price.

Conversely, if you select a Sell Limit order, you must specify a price higher than the current price. The order cannot be placed if you enter a price lower than the current price.

MT5 Stop Order Placement (MT5 Buy Stop and Sell Stop)

A stop order is an order placed to buy when the price rises and reaches the designated level or sell when the price falls and reaches the designated level.

For example, if the current USD/JPY exchange rate is 100 Yen per US dollar, you can place an order to "buy when the exchange rate reaches 101.00 Yen" or "sell when the exchange rate reaches 99.00 Yen".

Stop orders also have 2 types: Buy Stop (stop buy) and Sell Stop (stop sell).

• A Buy Stop order (waiting to buy at higher price) is the way you place a buy order at a price higher than the current market price. This type of order is often used when investors believe the price needs to break through resistance levels or trend lines before confirming an upward trend and continuing to rise in price.
• A Sell Stop order (waiting to sell at lower price) is the way you place a sell order at a price lower than the current market price. You use this type of order when you need to wait for the price to break through support levels or resistances before confirming a real downward trend, and then execute the sell order.

Like limit orders, if you enter the stop price incorrectly, the placement button will turn gray and you will not be able to place the order.

For example: for a Buy Stop order, you need to specify a price higher than the current price.

MT5 Stop Limit Order Placement (Buy Stop Limit and Sell Stop Limit)

Placing an MT5 stop limit order is a combination of a stop order and a limit order. This order will be executed after the price reaches the stop level and then reaches the designated limit level.

How to place Buy Stop Limit and Sell Stop Limit orders:

• Choose "Buy Stop Limit" if you want to buy at the stop limit price after the price rises and reaches the designated level.
• Choose "Sell Stop Limit" if you want to sell at the stop limit price after the price falls and reaches the designated level.

Enter the stop price and limit price into the price specification boxes.

For example, entering prices for a Stop Limit order placement:

• Type of order: Buy Stop Limit
• Volume: 1.00 (Enter number of trading lots)
• Price: 5.819,60 (Enter a price higher than the Stop Limit price)
• Stop Limit Price (Trading Price): 5810.07 (Enter a price higher than the current price)

Managing Open Positions on MT5

You can adjust the Stop Loss and Take Profit levels for any open positions at any time to change the original targets. To manage these trades, right-click on the trade to be edited in the Toolbox window, select "Modify or Delete" to open the order management window.

Here you can change the order parameters or delete the order if it has not been executed yet.

If the trade has been executed, you just need to click the 'X' button next to that order or right-click on the order and select "Close Position".

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Conclusion

MT5 provides powerful tools that allow traders to be flexible in implementing their strategies. If you are new to MT5, practice on a demo account first to avoid unnecessary mistakes.

The above are the order placement methods on the MT5 platform, including market orders, limit orders, stop orders, stop limit orders and how to manage pending and open orders. I hope the information I provide is useful for newcomers to get acquainted more easily with MT5 order placement. Best of luck!