Forex Trading in MetaTrader 5 Trading Platform

For successful online trading and implementation of various trading strategies on financial markets (Forex, Stocks, Futures & CFD), traders need a flexible trading system and up-to-date information about the current markets' state. Everything is included in MetaTrader 5!

The trading platform supports four modes of operation execution: instant, request, market and exchange execution. Each of these modes have pros and cons, and all of them can be used with MetaTrader 5.

If allowed by a broker, when a trading strategy requires to have a deal instantly executed, traders can send an order to execute an operation at the market price. The broker will execute the order at any price, as by giving such an order, a trader consents for its execution. On the other hand, if a trader needs to enter the market as accurately as possible, the deal will be executed specifying the price in the order. If the broker confirms the price, the trade request will be completed immediately.

Attention: the mode of operation execution is set by the brokerage firm for each financial instrument.

Orders

Any trade operation is executed through an order. This is a request to a broker to buy or to sell a financial instrument. Execution of such an order will result in a deal.

Order of trade operations in the MetaTrader 5 Trading Platform

The MetaTrader 5 Trading Platform supports all types of trade requests, enabling the implementation of virtually any forex trading strategy. Market orders are used for instant execution. Traders can use these orders if they need to have their operation performed right now.

MetaTrader 5 orders system:
  • 2 market orders
  • 6 pending orders
  • 2 stop orders
  • Trailing Stop

If pending orders are placed, these trade requests will be performed in future, as soon as the market situation will meet the specified condition. For example, buy stop is an order to buy in case the symbol price exceeds its current one. This request can be used if the trader expects that when a certain level is reached, the upward trend will continue.

Stop orders will help traders lock their obtained profits and minimize their losses. Stop orders are used in combination with market or pending orders and the trade position of a financial instrument. Pending orders are always set at a certain distance from the current price or the open price of the order.

Types of pending orders in the MetaTrader 5 platform

For example, a trader can place a buy stop order and set the stop loss level at 200 points below the open price. This will help minimize losses if the prediction for the future growth of a symbol price fails to materialize and the trading market turns the opposite direction.

The stop loss order can be moved to the automatic mode keeping a certain distance from the current price. Trailing stop is used for "trailing" the stop loss to follow the current price, if the profit from a position increases. If price turns the opposite direction, the level of stop loss will not change. In few words, trailing stop will assist to minimize losses and increase profits.

Working with Orders

MetaTrader 5 provides several options for placing orders for maximum expediency. Orders can be placed through quotes dialog, hot keys or right from the chart of a financial instrument. With the one click trading option, orders can be placed also with one click of a mouse.

One Click Trading in MetaTrader 5

Comprehensive information about all orders and open positions is always available in the Toolbox - Trade window. Traders can track here the number of orders and positions, open prices, volumes, stop orders and their trading account state. Additionally, this trading tool facilitates access to the detailed history of all deals in this window.

Trade and pending orders in MetaTrader 5

Built-in trading reports are essential for evaluating the effectiveness of online trading. They can automatically analyze numerous different trade values: the profit factor, expected payoff, drawdowns, number of deals, average profit/loss and many other parameters. With this valuable information you can easily evaluate a trading system or compare the results of different forex trading strategies.

MetaTrader 5 is the source for new and exciting trading forex opportunities. With its flexible trading system, forex traders can implement virtually any trading strategy, while the complete and authentic information on the trading operations will help keep them aligned with market events!

Charts in the MetaTrader 5 Trading Platform >>

MetaTrader 5 — a complex trading platform for providing brokerage services on the retail Forex market.

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