⚠️ Risk warning: CFDs and leveraged forex are complex instruments with a high risk of losing money rapidly. Most retail accounts lose money. This content is education only, not investment advice or a recommendation.
Open a market order
- Open the order window. Press F9, use Tools → New Order, or right-click a symbol in Market Watch and choose “New Order”.
- Choose symbol and volume. Check the Symbol and enter the Volume in lots (for example 0.10). Size it from your stop distance first (see the risk lesson).
- Set Stop Loss and Take Profit. Enter price levels in the Stop Loss and Take Profit fields. You can also leave them at 0 and add them later, but setting the stop now is safer.
- Buy or sell. Click “Buy by Market” or “Sell by Market”. The position appears in the Trade tab of the Toolbox.
Place a pending order
- Switch the type. In the order window, change Type to “Pending Order”.
- Pick the order kind and price. Choose Buy Limit, Sell Limit, Buy Stop, Sell Stop, Buy Stop Limit or Sell Stop Limit, then enter the trigger price, volume, stop loss and take profit.
- Set an expiry. Choose GTC (good till cancelled), Today, Specified (date and time) or Specified day, then click Place.
Modify, trail and close
- Modify stop loss or take profit. In the Trade tab, right-click the position → “Modify or Delete”, change the levels and confirm. With trade levels shown on the chart you can also drag the SL and TP lines.
- Add a trailing stop. Right-click the position → Trailing Stop and choose a distance. The trailing stop runs in your terminal, so it only works while MT5 is open and connected.
- Close a position. Double-click the position in the Trade tab and click Close, or right-click → Close Position. To close part of it, enter a smaller volume first.
- Enable one-click trading (optional). Tools → Options → Trade tab → One Click Trading (you must accept the terms). This lets you trade from the chart's quick buttons without confirmation, so use it carefully.
Common problems
- Invalid stops
- SL/TP on the wrong side of the price or closer than the broker's minimum distance. Move them further away.
- Market closed
- The symbol is outside its trading hours (check right-click → Specification → Sessions), or it is the weekend.
- Not enough money
- Free margin is too low for this volume. Reduce the lot size or close other positions.
- Off quotes / Requote
- The price moved or no valid quote was available, often in fast markets or around news. Try again or use a pending order.
Frequently asked questions
How do I set a stop loss in MT5?
Enter a price in the Stop Loss field of the order window, or right-click an open position in the Trade tab → Modify or Delete and set it there.
What does “Invalid stops” mean in MT5?
Your stop loss or take profit is on the wrong side of the market price or too close to it. Move it further away and try again.
Does the MT5 trailing stop work when the platform is closed?
No. The trailing stop is managed by your terminal, so it only works while MT5 is running and connected. A normal stop loss is held on the server.