How to use MetaTrader 5

How to use MetaTrader 5

Forex Tips By Kelvin Cai 2017-03-05 14:56:22

Video Tutorials

Browse our step-by-step instructional videos and learn how to use the MT5 trading platform

How to install MetaTrader 5

  • Download the software
  • Install onto your computer
  • Login to your MT5 trading platform
  • Create an MT5 practice account

Manage open trades in the MT5 terminal

  • Display the terminal
  • Understand the information contained within the trade tab 
  • Close an open position from within the trade tab
  • Modify or delete a stop-loss and take profit from the trade tab
  • Access the account history tab
  • Generate a report on your trading to monitor your progress

Basic functions of MT5

  • An overview of the short-cut keys
  • How to open a chart
  • Selecting different windows
  • Opening the new order window
  • The expert advisor tab
  • How to change chart type
  • How to zoom in and out on charts
  • Using auto scroll and chart shift
  • Selecting different chart time-frames

MetaTrader 5 Navigator

  • How to open the navigator
  • Finding your Account name and number
  • Trading with multiple MT5 accounts
  • Installing default indicators onto charts
  • Installing Expert Advisors on to charts
  • Installing custom indicators

Place a trade in MetaTrader

  • Selecting a currency pair to trade
  • Selecting how much to trade
  • Selecting order type
  • Executing long and short trades
  • Setting a stop loss
  • Setting a take profit
  • Closing a position

Types of orders in MetaTrader

  • Market Orders
  • Buy Limit Orders
  • Sell Limit Orders
  • Buy Stop Order
  • Sell Stop Order

How to use Market Watch

The Market Watch lists all currency pairs and instruments available to trade on MT5.

  • Display the Market Watch
  • Read the information on the Market Watch
  • View additional symbols
  • Load a chart from the Market Watch

Loading charts to MetaTrader

MetaTrader contains highly configurable Forex pricing charts.

  • Add or remove the grid
  • Select different chart types including bar, line, or candle
  • Change the appearance of the charts
  • Create a chart template
  • Load a chart template
  • Move between charts
  • View multiple charts in different ways