Many beginner traders hesitate at the moment of actually placing an order - the interface seems complex, and the fear of making a mistake can be paralysing. In reality, MetaTrader 5 offers several ways to open a position, and the simplest of them takes literally two clicks. This guide walks you through each method using real screenshots from a live trading session on EURUSD (Euro vs US Dollar), so you can see exactly what the terminal shows at the moment of execution.
MetaTrader 5 is a universal platform designed to trade across multiple markets: Forex spot, CFDs, futures, stocks, and commodities. Depending on your broker and the specific instrument, the available order types and interface elements may differ - and that difference becomes very visible when you open the order window.
The most reliable way to open a trade is through the full order window. You can call it up in several ways:
Let's go through every field in this window:
Symbol - the trading instrument. In our example it shows "EURUSD, Euro vs US Dollar".
Volume - the size of your position in lots. In Screenshot 3 the field shows 0.00, meaning no size has been entered yet. For micro-accounts, a typical starting size is 0.01 lots (1,000 units of base currency). Screenshot 1 shows the one-click panel where 0.01 is already set — that's 10 cents per pip movement on a standard EUR/USD.
Stop Loss - the price level at which the terminal will automatically close your trade to limit losses. In Screenshot 3 the field reads 0.00000, meaning no stop is set. Never leave this field empty on a live account.
Take Profit - the target price at which the trade closes in profit automatically. Also 0.00000 in the screenshot — to be filled before execution.
Fill Policy - shown as "Fill or Kill" in both Screenshot 2 and Screenshot 3. This means the order will either be filled in full immediately at the requested price, or cancelled entirely. On a liquid Forex pair like EURUSD during active hours this is rarely an issue, but during news events or low liquidity it can result in the order being rejected.
Comment — a text field for labelling your trade. Useful if you run multiple strategies simultaneously and want to filter trades in your history later.
At the bottom of the window are two large buttons: Sell by Market and Buy by Market. The large price display in the centre - showing 1.14452 / 1.14466 in Screenshot - gives you the live bid/ask spread at the moment of opening the window. The difference here is 1.4 pips, which is a normal spread for EURUSD during the European session.
The right panel shows a two-sided price ladder: ask prices in pink (1.14474 through 1.14480) and bid prices in blue (1.14454 through 1.14460), with the current market price sitting at 1.14460 / 1.14474 as shown in the centre of the window.
Here is a critically important point that many beginners misunderstand:
In our example, EURUSD is a CFD/rolling futures instrument, and the broker does transmit the order book - which is why the ladder is populated and tradeable directly from this panel. The Sell, Close, and Buy buttons at the bottom of the DOM panel allow you to execute instantly at the best available price shown in the ladder.
The tick chart embedded in the DOM window (Screenshot 2) shows price action from 10 June through 22 June 2026, with a clear downward move visible in the most recent candles on the main H1 chart behind the window — price dropped sharply from above 1.1500 and is now consolidating near 1.1445–1.1465.
The panel in the top-left corner shows:
To enable this panel, go to Tools → Options → Trade and tick "One Click Trading", or simply click the small flag icon in the top-left corner of any chart.
Before placing any order, you should read the chart behind the terminal windows. The H1 chart of EURUSD visible in Screenshot 1 shows a significant technical picture: price made a sharp downward move from approximately 1.1600 to below 1.1500, and then continued declining toward the 1.1445 area where it is currently consolidating. The horizontal red line at 1.15006 visible on the right axis acts as a key resistance level - price broke below it and has not recovered.
The spread between the market open window readings across the three screenshots (ranging from 1.14452/1.14466 in Screenshot 3 to 1.14483/1.14497 in Screenshot 1) reflects normal intraday fluctuation within a narrow 4–5 pip band during the European morning session of 22 June 2026.
- Why Opening a Trade in MT5 Is Easier Than You Think
- Method 1: The Standard Order Window - Your Main Trading Tool
- Method 2: Depth of Market (Order Book) - When Your Broker Provides It
- Method 3: One-Click Trading — For Experienced Users Only
- Reading the Chart Before You Click: What the Screenshots Tell Us
Why Opening a Trade in MT5 Is Easier Than You Think
MetaTrader 5 is a universal platform designed to trade across multiple markets: Forex spot, CFDs, futures, stocks, and commodities. Depending on your broker and the specific instrument, the available order types and interface elements may differ - and that difference becomes very visible when you open the order window.
Method 1: The Standard Order Window - Your Main Trading Tool
The most reliable way to open a trade is through the full order window. You can call it up in several ways:
- Press the F9 key on your keyboard
- Click New Order in the top toolbar (visible in Screenshot 3, marked with a red arrow pointing directly at this button)
- Right-click on the chart and select "New Order"
Let's go through every field in this window:
Symbol - the trading instrument. In our example it shows "EURUSD, Euro vs US Dollar".
Volume - the size of your position in lots. In Screenshot 3 the field shows 0.00, meaning no size has been entered yet. For micro-accounts, a typical starting size is 0.01 lots (1,000 units of base currency). Screenshot 1 shows the one-click panel where 0.01 is already set — that's 10 cents per pip movement on a standard EUR/USD.
Stop Loss - the price level at which the terminal will automatically close your trade to limit losses. In Screenshot 3 the field reads 0.00000, meaning no stop is set. Never leave this field empty on a live account.
Take Profit - the target price at which the trade closes in profit automatically. Also 0.00000 in the screenshot — to be filled before execution.
Fill Policy - shown as "Fill or Kill" in both Screenshot 2 and Screenshot 3. This means the order will either be filled in full immediately at the requested price, or cancelled entirely. On a liquid Forex pair like EURUSD during active hours this is rarely an issue, but during news events or low liquidity it can result in the order being rejected.
Comment — a text field for labelling your trade. Useful if you run multiple strategies simultaneously and want to filter trades in your history later.
At the bottom of the window are two large buttons: Sell by Market and Buy by Market. The large price display in the centre - showing 1.14452 / 1.14466 in Screenshot - gives you the live bid/ask spread at the moment of opening the window. The difference here is 1.4 pips, which is a normal spread for EURUSD during the European session.
⚠ IMPORTANT
Always check the spread displayed in the order window before clicking Buy or Market Sell. During news releases (NFP, CPI, Fed decisions) this spread can widen to 5–15 pips in seconds, turning a planned trade into an immediate loss equal to several minutes of normal price movement.
Method 2: Depth of Market (Order Book) — When Your Broker Provides It
The right panel shows a two-sided price ladder: ask prices in pink (1.14474 through 1.14480) and bid prices in blue (1.14454 through 1.14460), with the current market price sitting at 1.14460 / 1.14474 as shown in the centre of the window.
Here is a critically important point that many beginners misunderstand:
ℹ INFO
MetaTrader 5 is built to handle many different market types. However, the Depth of Market (DOM) panel only displays real order book data when your broker transmits it — and this only happens for certain instrument types. On classic Forex spot pairs (EURUSD, GBPUSD, etc.) from most retail brokers, the DOM will be empty or unavailable, because there is no centralised exchange order book for spot FX. The DOM becomes meaningful primarily on futures contracts, some CFDs, and exchange-traded instruments where the broker has direct market access and passes through Level 2 data.
In our example, EURUSD is a CFD/rolling futures instrument, and the broker does transmit the order book - which is why the ladder is populated and tradeable directly from this panel. The Sell, Close, and Buy buttons at the bottom of the DOM panel allow you to execute instantly at the best available price shown in the ladder.
The tick chart embedded in the DOM window (Screenshot 2) shows price action from 10 June through 22 June 2026, with a clear downward move visible in the most recent candles on the main H1 chart behind the window — price dropped sharply from above 1.1500 and is now consolidating near 1.1445–1.1465.
Method 3: One-Click Trading - For Experienced Users Only
The panel in the top-left corner shows:
- SELL 1.14 48³ — the current bid price, clicking this opens a sell position instantly
- BUY 1.14 49⁷ — the current ask price, clicking this opens a buy position instantly
- Lot size field showing 0.01, which can be adjusted before clicking
To enable this panel, go to Tools → Options → Trade and tick "One Click Trading", or simply click the small flag icon in the top-left corner of any chart.
⚠ IMPORTANT
One-Click Trading bypasses the confirmation dialog entirely. A misclick — especially on a mobile device or a small laptop screen — can open an unintended position in the wrong direction. Use this method only when you have already pre-set your lot size and are confident in your execution. Beginners should stick to the standard order window (F9) until they have developed precise clicking habits.
Reading the Chart Before You Click: What the Screenshots Tell Us
Before placing any order, you should read the chart behind the terminal windows. The H1 chart of EURUSD visible in Screenshot 1 shows a significant technical picture: price made a sharp downward move from approximately 1.1600 to below 1.1500, and then continued declining toward the 1.1445 area where it is currently consolidating. The horizontal red line at 1.15006 visible on the right axis acts as a key resistance level - price broke below it and has not recovered.
The spread between the market open window readings across the three screenshots (ranging from 1.14452/1.14466 in Screenshot 3 to 1.14483/1.14497 in Screenshot 1) reflects normal intraday fluctuation within a narrow 4–5 pip band during the European morning session of 22 June 2026.
ℹ INFO
Practical rule: Before opening any position in MT5, confirm three things from the order window itself — (1) the spread is within your normal range, (2) your stop loss corresponds to a logical chart level rather than an arbitrary number of pips, and (3) your volume size risks no more than 1–2% of your account balance on this single trade.
- F9 or "New Order" button → standard order window with full parameter control
- "Depth of Market" button → order book ladder, available only if your broker transmits Level 2 data for the instrument
- One-Click Trading panel on the chart → instant market execution, no confirmation, pre-set lot size required
- "Fill or Kill" fill policy → order executes fully at the requested price or is cancelled — watch this during volatile conditions
- The spread in the order window is live — always check it before clicking Buy or Sell
1. Can I set a Stop Loss and Take Profit directly in the MT5 order window, or do I have to add them after the trade opens?
You can — and should — set both Stop Loss and Take Profit directly in the order window before clicking "Buy by Market" or "Sell by Market". Simply enter the price levels in the corresponding fields. If you leave them at 0.00000 as shown in the screenshots, the position opens without any automatic protection, and you will need to modify the trade afterwards by right-clicking it in the Terminal tab and selecting "Modify or Delete Order". Setting these levels in advance is always the safer approach.
2. What lot size should a beginner use when first practising order execution in MetaTrader 5?
For initial practice on a live account, 0.01 lots (a micro-lot) is the standard starting point — as shown in Screenshot 1 where the one-click panel is set to exactly 0.01. At this size on EURUSD, each pip of movement equals approximately $0.10. This keeps potential losses small while you build familiarity with execution speed, spread behaviour, and order management. On a demo account you can use any size without financial risk.
3. Is the "Fill or Kill" fill policy the best option for opening trades on EURUSD, or should I change it?
"Fill or Kill" works well for liquid instruments like EURUSD during active trading sessions (London and New York overlap), where the full order volume can almost always be filled immediately. However, if you trade larger volumes, exotic pairs, or during low-liquidity periods, consider switching to "Immediate or Cancel" (partial fills allowed) or "Return" (remaining volume becomes a limit order). You can change the fill policy in the order window dropdown before each trade.