Best Ways to install and utilize Metatrader 5 on PC
Forex trading can be an excellent investment vehicle regardless of your knowledge or expertise in the speculative market. As with any investment opportunity, this involves a certain amount of risk. However, forex trading is one of the safest ways given the risky investments.
Try our forex trading platform before trying other riskier investment options and diversifying your portfolio. Copy trading or social trading are excellent options for beginners.
If you don’t know how to trade, a platform like Metatrader 5 can help you get an overview of your trading activity. For experienced traders and novices alike, MT5 is effective and convenient.
Download MT5 on your PC for an enhanced trading experience and learning trading tips. Below is a simple idea of how to carry out the installation process for using the platform. You have to double click.
You must read the license agreement carefully. Click I agree and click Next to continue.
After that you have to choose the folder where you want to install the files. If the suggested folder is the one you want to save the file in, just click Next. If you want to keep the file in another file, you need to click Browse and select the desired folder.
In the next window you have to select a group from the program menu. Click Next when done.
You can install MT5 with one click. Click Next to finish, or click Previous to make changes. The installation process will take some time. Installation usually takes a few seconds.
Nothing is stopping you from accessing the great trading features of Metatrader 5. Once successfully installed. Click “Launch Metatrader” and then “Finish”. Your trading platform is now ready to trade.
Opening a Trade
When opening a new order, you are left with four options.
There is a New Order tab on the toolbar. Click to find and click the F9 key on your
keyboard.
Now we need to move to the Market Watch window. Identify the trading instrument you want to trade and click “New Order”.
Now you need to double-click on the selected ‘Market Watch’ trading instrument.
Market Orders To place a market order, you must follow the steps below.
Double-click a product in the Market Watch window to open a New Order.
Now you need to select your desired volume and symbol along with optional Take Profit and Stop Loss levels. Under “Type” there are several design variations. Carefully examine the list and select one. When trading on MT5, the platform automatically recognizes the execution type based on your account type and the instrument you choose. To place a
trade order, click “Buy by Market: ” or “Sell by Market”.
To close an order, you must follow the steps below.
- Go to the transaction registration card and find the transaction you want to close. Then double-click the deal. There is a Trade tab in the toolbox. You can easily find these tabs by looking at the bottom of your terminal window.
- Now you need to look for the yellow Close by Market button and click it.
- Otherwise, right-click directly on the order you want to close and select Close Order. If you have not enabled One-Click Trading, you will be prompted. Once activated, this process works. However, you will have to repeat the same process again after enabling One-Click Trading. To easily complete an order, click the ‘x’ symbol next to the order.
Pending Orders
MT5 allows you to choose from six options for pending orders. These are Buy Limit, Buy Stop, Sell Limit, Sell Stop, Sell Stop Limit and Buy Stop Limit. You can close any position using Take Profit or Stop Loss.
To place a limit order, you must follow the steps below.
Go to Tools and click on the New Order option.
I have to do three things at once. Select the ‘Symbol’ you want to trade, mark ‘Volume’ and set the Limit order type.
Set Take Profit, Price and Stop Loss
Take Profit and Expiration are not mandatory.
You must click Place to place a limit order.
Always remember that if your chosen expiry date falls on a weekend, your order will expire on the last day before the market closes.
To delete/modify a pending order, you must follow the steps below.
Go to your company’s registration card, right-click Pending Orders, and then click Delete or Modify.
Select Change to display options for changing Stop Loss, Price, Take Profit and Expiry. After making the necessary changes, you need to click Change.
However, deleting a pending order is much easier. Just click delete and you’re done.
So MT5 is very easy to install and use. You can download and trade this advanced platform at any time. Whether you have trading experience or not, MT5 is a great trading platform for everyone.
From professional master traders to first-time traders, everyone wants this platform to be user-friendly and foreign You will find that it is perfect for forex trading. When doing copy trading, you can take advantage of the tools available in MT5 for market analysis, trading history analysis, and more. Therefore, MT5 remains a smart choice for trading for everyone.
