Learn how to place different order types in MT5. Understanding order execution helps you implement your trading strategies effectively.
Market Orders
Execute immediately at the current market price. Click 'New Order', select the instrument, choose volume, and click Buy or Sell. Fills instantly at best available price.
Pending Orders
Set orders to execute at future prices. Buy Limit (below current price), Sell Limit (above), Buy Stop (above), Sell Stop (below). Great for planned entries.
Stop Loss and Take Profit
Set SL to limit losses and TP to lock in profits. You can set these when placing an order or modify existing positions. Always use stop losses.
Order Modification
Right-click any open order to modify SL, TP, or pending order price. You can also close partial positions by specifying the volume to close.
Practice order types on a demo account first. Understanding execution helps you trade more confidently in live markets.