Your First Trade
Step-by-step guide to placing your first trade on MetaTrader 5
Congratulations on reaching this point! Now it is time to put your knowledge into practice. This guide will walk you through placing your first trade on MetaTrader 5 step by step.
Step 1: Log Into Your Account
Open MetaTrader 5 and log into your demo account. Make sure you are connected to the server (green bar in the bottom right corner).
Step 2: Choose Your Instrument
In the Market Watch window, find the instrument you want to trade (e.g., EUR/USD). Double-click to open the order window.
- Right-click to add new symbols
- Use search to find specific instruments
- Check the spread before trading
Step 3: Set Up Your Order
In the order window, configure your trade:
- Choose order type (Market or Pending)
- Set your volume (lot size)
- Add Stop Loss and Take Profit levels
- Double-check all parameters
Step 4: Execute and Monitor
Click Buy or Sell to execute. Monitor your trade in the Trade tab. Remember, demo trading helps you practice without real risk.
Step 5: Close Your Position
To close, right-click on the trade in the Trade tab and select Close Position. Review your results and learn from each trade.
Key Takeaways
- Always start with a demo account
- Set stop-loss and take-profit before entering
- Use proper position sizing
- Keep a trading journal to track and learn