MT5 Trading Guide: A Step-by-Step Tutorial
MetaTrader 5 (MT5) is a powerful trading platform, and learning how to use it effectively is a key step in your trading journey. In this guide, we’ll walk you through the essentials, from installing the platform to managing your trades. Let’s get started!
Installing MT5
- Start by registering a free account with Fx-k (Sign Up Here).
- Once you’ve signed up, go to your client area to find the MT5 downloader.
- Download the platform for your operating system—whether it’s Windows, Mac, or mobile.
- Install the platform on your device.
- Launch the platform, and you’re ready to log in!
Logging In and Switching Accounts
When you first open MT5, you’ll need to log in with your trading account credentials provided by your broker.
If you decide to use Fx-k, you’ll find your account information in your Client Portal (Access Here) under the MT5 tab. The password and server details are sent via email when you create your account. If you’ve lost this email, don’t worry—you can send a request to [email protected] to reset the password of your trading account.
Go back to the MT5 and simply go to the “File” menu, select “Login to Trade Account,” and enter your account details. If you have multiple accounts, you can easily switch between them by following the same process.
For example, let’s say you have a demo account and a live account. You can practice on the demo account and switch to the live account when you’re ready to trade real money.
Adding and Removing Instruments
The Market Watch window displays the list of currency pairs and instruments available for trading. To add a new instrument, right-click anywhere in the Market Watch window and select “Symbols.” From here, browse through the available categories, find the instrument you want, and click “Show Symbol.” It will now appear in your Market Watch.
To remove an instrument, right-click on it in the Market Watch window and select “Hide Symbol.” This keeps your workspace tidy and focused on the instruments you trade most.
Placing an Order
Placing an order on MT5 is straightforward. There are four ways to open a new order on MT5:
- From the toolbar, click “New Order”, OR
- Press F9 on your keyboard, OR
- Find the currency pair you want to trade in the Market Watch, right-click, and select “New Order.”, OR
- From the Market Watch window, directly double-click the trading instrument.
A window will pop up where you can choose your trade size, set stop-loss and take-profit levels, and execute the order.
For example, if you believe EUR/USD will rise, select “Buy” to open a long position. If you think it will fall, select “Sell” to open a short position. Your trade will now be active, and you can monitor it in the Toolbox.
Closing an Order
Like opening an order, there are multiple ways to close an order on MT5:
- To close an order, one option is to double-click on the order in the Trade tab (located in the Toolbox), and then click the yellow “Close By Market” button.
- Another method is to right-click your order in the Trade tab and choose “Close Order.” When One-Click Trading is active, selecting “Close Order” will immediately finalize the trade without needing additional confirmation.
- You can also close an order by clicking the “X” located on the right-hand side of the order in the Trade tab. If One-Click Trading is enabled, this action will immediately close the trade without additional confirmation.
Use any of these methods to efficiently close your trades based on your preferences.
Partially Closing Orders
MT5 also allows you to partially close an open order if you want to secure some of your profit while keeping the rest of the position active. Here’s how you can do it:
- Go to the Trade tab in the Toolbox and double-click on the order you want to partially close.
- In the order modification window that pops up, adjust the trade volume to the amount you want to close. For example, if your open position is 1 lot, you can reduce it to 0.5 lot to partially close half the position.
- Click the “Close by Market” button to finalize the partial closure.
The remaining portion of the order will stay active, allowing you to continue managing it as needed.
Bulk Closing Orders
MT5 also provides an option to close multiple orders simultaneously, which can save time during fast-moving market conditions. Here’s how to do it:
- Go to the Trade tab in the Terminal area.
- Right-click anywhere in the Trade tab, select “bulk operations” and look for options such as:
- Close All Positions: Closes all active trades.
- Close Profitable Positions: Closes only the trades currently in profit.
- Close Losing Positions: Closes only the trades currently at a loss.
- Close Buy/Sell Positions: Closes all buy or sell orders, depending on your selection.
- Close Symbol Positions: Closes all trades related to a specific currency pair or instrument.
- Close Type Symbol Positions: Closes trades of a specific type (buy/sell) for a specific currency pair.
- Confirm your selection, and the chosen trades will be closed accordingly.
This range of bulk options gives you flexibility in managing multiple trades quickly and efficiently, especially during volatile market conditions.
Managing Pending Orders
Pending orders allow you to set up trades that will execute when the market reaches a specific price. To place a pending order, open the “New Order” window and choose the order type (e.g., Buy Limit, Sell Stop). Set your desired entry price, stop-loss, and take-profit levels, then click “Place.”
If you need to modify or delete a pending order, go to the Toolbox under the “Trade” tab. Right-click on the pending order and select “Modify or Delete.” Adjust the settings or remove the order as needed.
Conclusão
MT5 is a versatile and user-friendly platform that gives you everything you need to trade confidently. By mastering these basic functions—logging in, managing instruments, and handling orders—you’ll be ready to make the most of your trading experience. In the next lesson, we’ll explore advanced tools like indicators and expert advisors to take your trading to the next level. Keep practicing and learning—you’re doing amazing!