How to Place and Close a Trade on MT5

Hi and welcome to this Daman Markets tutorial on how to place a trade. So, the first thing that we would need to do is we would need to go into the Market Watch and select the market that we would like to trade. In this example, we’ll be using GBPUSD, or cable.

Once you double click on the market that you want, it will open up a deal ticket for you, as you can see in front of us. So the first thing that we want to make sure is that we are trading the right market, where it says here ‘Symbol’, it says GBPUSD, so we’ve ensured that the market is correct and the type of trade that we will be doing will be a Market Execution, so we’ll basically be trading at the current live price.

Once we’ve confirmed everything is okay, we would then move on to the volume. We would select the volume that we want, so say we want to change this from half a lot to 1 lot, we can simply type or use these arrow head toggles to go up and down to increase or decrease our size, and if you want to add a Stop Loss or Take Profit, again you can just input it here and we can show you that at a later tutorial.

Once all of this is confirmed, we would then look to buy or sell, so in this case, we will be buying. You would click ‘Buy‘ and we will get a confirmation that our trade has been executed.

Furthermore, what you can do is, you could go into your trade tab, and then you can see your trade is open here for you. And there is another method that you can do as well, it’s called ‘One Click Trading‘. The one thing that you would need to do first is you would need to go into your Tools, go to your Options, and then go on to your Trade tab here and enable One Click Trading.

Once you do that, you’ll get a disclaimer telling you that, once you click once, your trade will execute. Once you’ve agreed to that, press OK. We would then be able to enable the One Click Trading from the chart. So, if you go up here and you click here, you will see you’ve got your Buy/Sell prices and this middle box here dictates the size of the trade that you’re doing.

So, if I change that from 0.01 to 1 lot, every time I would click here, say I want to buy 1 lot again, I would simply select Buy and as you can see, the trade has executed right at the bottom there for you. Now in order for us to close trades, what we would need to do is, we would need to go into the Trade tab, and if you have a look right at the end here where I’ve got my mouse hovering, there is a little x. If we click that x, it basically closes the trade for us.

If you don’t have One Click Trading enabled, so I’ll disable it now, what you would do is, once you press the x right here, it will bring up the deal ticket, with the option to close in yellow. So if I click here, you can see that all my trades have now closed. If I go into the Trade History tab right here, you can see these last two trades that we’ve just closed, there for you to review and journal.