MT4 / MT5 · Guide 03
How to Open an Order in MT4/MT5
Learn to execute every order type available in MetaTrader: market execution, pending orders and position sizing.
How to Open the New Order Window
There are several ways to access the order window:
- F9 — Keyboard shortcut, the fastest method.
- Double-click any symbol in the Market Watch panel.
- Click the "New Order" button in the toolbar (ticket icon).
- Right-click on the chart → Trading → New Order.
Order Types
Market Order: Executes immediately at the current market price. Select "Market Execution" as the order type, choose your volume (lots) and click "Buy" (blue) or "Sell" (red).
Buy (Long): Profit when price rises · Sell (Short): Profit when price falls.
Pending Orders:
- Buy Limit: Buy at a price below the current price. Used to enter on a pullback to support.
- Sell Limit: Sell at a price above the current price. Used to enter on a bounce at resistance.
- Buy Stop: Buy when price rises to a level above the current price. Used to trade bullish breakouts.
- Sell Stop: Sell when price drops to a level below the current price. Used to trade bearish breakouts.
Understanding Lots
- Standard lot: 100,000 units — pip value (EUR/USD) ~$10.
- Mini lot: 10,000 units — pip value (EUR/USD) ~$1.
- Micro lot: 1,000 units — pip value (EUR/USD) ~$0.10.
For beginners: Start with micro lots (0.01) on a demo account to get comfortable with the platform. When you move to a live account, size your positions according to your risk management rules (the 1–2% rule).
Educational content only. Does not constitute financial or investment advice. Trading involves risk of loss; past results do not guarantee future results.