In this mode a market order is executed at the price offered to a broker. The terminal automatically fills in current prices in the order.
When opening a position in such a mode, select a symbol in the "Symbol" field of the "Order" window. Select "Instant Execution" in the "Type" field.
The following fields should be filled out in the order parameters block:
•Volume — order volume in lots;
•Take Profit — the Take Profit level in prices or in the number of points from the price specified in order, depending on the terminal settings. If this field contains zero, this order won't be placed;
•Comment — a text comment to the order. The maximal comment length is 31 symbols;
•Deviation — deviation of the order execution type from the price specified in the order, to which a trader agrees. The higher the specified value is, the lower is the possibility to receive a Requote as a reply to the order execution request. If the deviation is equal to or less than this parameter, the order is executed at the new price without any notification. Otherwise a broker returns new prices, at which the order can be executed.
After all the necessary data have been specified "Sell" or "Buy" must be pressed. The order to open a short or long position respectively is sent to a broker.
Once the order is sent the window will display the result of its execution — a successful trade operation or a reason why it has not been executed. If the "One click trading" option is enabled and the order has been successfully executed the trading window is closed right away without displaying the execution result.
If during order processing the price has changed by the value larger than that indicated in the "Deviation" field, a dealer (server) can reject the order and offer new prices to a trader. In such a case a corresponding message appears in the order creation window:
If a trader agrees to the new prices, "Accept" should be pressed and the order will be executed at the new prices. If a price doesn't suit, "Reject" is pressed.
New prices are valid for a few seconds only. If a trader doesn't make decision within this time, the "Requote" entry appears in the window and after pressing "Ok" a trader is moved to the initial order creating window.
In order to completely close a position, execute the " Close Position" command in its context menu in the "Trade" tab. The window of position closing is analogous to its opening window except for the "Close..." entry.
Pressing on this button will completely close the position.
MetaTrader 5 — a complex trading platform for providing brokerage services on the retail Forex market.
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