Place your first trade

1. Open the order window. On a phone, open the Quotes tab, tap an instrument and select Trade, or use the New Order icon on the Chart tab. On a computer, select New Order or press F9.
2. Check the order type. It should say Market Execution, which means you trade at the current price right now.
3. Set the volume. This is your trade size in lots. Start very small, such as 0.01.
4. Set a stop loss. A stop loss closes the trade automatically if the market moves against you. Decide this before you open the trade.
5. Set a take profit. A take profit closes the trade automatically once it reaches the profit you want.
6. Send it. Buy by Market opens a long position. Sell by Market opens a short one.

How much is one lot worth

These pip values are for a currency pair such as EUR/USD. Contract sizes differ by instrument and are shown in the MetaTrader 5 symbol specification.

A mistake at one standard lot costs 100 times what the same mistake costs at 0.01 lots. Always double check the volume before you select Buy or Sell. See Trade sizes and lots.

Managing the trade

Open trades appear in the Trade tab with their profit and loss updating live. To close, hold the trade and select Close Position on a phone, or select the small close button on a computer. To change your levels, select Modify Position. See Close a trade and review your history.