Displaying the Order Placement Window and Placing Orders in MT5 (Windows)
Four Ways to Display the Order Window
There are numerous ways to display the order window for placing orders, but here we will introduce four commonly used methods. Use any of these methods to display the order window.
Method 1: Click 'New Order' on the toolbar.
Method 2: Right-click on the chart and select 'New Order' from the 'Trading' menu that appears.
Method 3: Double-click on the desired symbol in the market watch.
Method 4: Right-click on the desired symbol in the market watch and select 'New Order'.
Market Orders from the Order Window
The fields for a market order are as follows:
① Symbol: Specify the trading symbol.
② Type: Select 'Countdown Order'.
③ Volume: Specify the trading volume in lots.
④ Stop Loss (optional): Set the price for the stop-loss order.※1
⑤ Take Profit (optional): Set the level for the take profit order.※1
⑥ Comment (optional): Enter any comments to be noted in the trade history.
※1 The levels for stop-loss and take profit orders can be set either in price or points in the options below.
Limit and Stop Orders from the Order Window
The fields for limit and stop orders are as follows:
① Symbol: Specify the trading symbol.
② Type (upper): Select 'Limit Order'.
③ Type (lower): Choose from Buy Limit, Sell Limit, Buy Stop, Sell Stop, Buy Stop Limit, Sell Stop Limit.
④ Volume: Specify the trading volume in lots.
⑤ Price: Enter the price for the limit or stop order. For Buy Stop Limit and Sell Stop Limit orders, specify the price at which the limit order becomes active.
⑥ Stop Limit Price: For Buy Stop Limit and Sell Stop Limit orders, enter the limit price.
⑦ Stop Loss (optional): Set the price for the stop-loss order.※1
⑧ Take Profit (optional): Set the level for the take profit order.※1
⑨ Expiration: Set an expiry if required.
Once all fields are filled, click the 'Place Order' button to issue the limit or stop order.
⑩ Expiration date: If 'Date Time' or 'Select Date' is chosen in ⑨, set the expiry date.
⑪ Comment (optional): Enter any comments to be noted in the trade history.
※1 The levels for stop-loss and take profit orders can be set either in price or points in the options below.
Setting Stop Loss and Take Profit Levels (Trading Options Settings)
Select 'Options' from the 'Tools' menu in MT5.
In the trading options settings, choose 'In Prices' to set the level in prices, and 'In Points' to set it in points.
