MT5 BEGINNER GUIDE

How to Use MetaTrader 5: A Complete Beginner Guide

Learn how to navigate MT5, place trades, understand lot size, use Stop Loss and Take Profit, manage positions and read your trading account.

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Table of contents

  1. 1. What is MetaTrader 5?
  2. 2. How to Log Into MT5
  3. 3. Understanding the MT5 Screen
  4. 4. How to Add Forex Pairs and Gold
  5. 5. How to Place a Buy or Sell
  6. 6. What Lot Size Means
  7. 7. How to Set Stop Loss
  8. 8. How to Set Take Profit
  9. 9. How to Modify an Open Trade
  10. 10. How to Close a Trade
  11. 11. How to Partially Close a Position
  12. 12. Balance, Equity, Margin and Free Margin
  13. 13. How to View Trade History
  14. 14. Common MT5 Beginner Mistakes
  15. 15. What to Learn Next

Platform basics

What is MetaTrader 5?

MetaTrader 5, often called MT5, is a trading platform used for charts, orders, open positions and account monitoring. MT5 itself is not a broker. A trader connects MT5 to a supported broker account, then uses the platform to analyse markets and manage trades.

MT5 is available on desktop and mobile. MT5 mobile is useful for monitoring positions, but beginners should still learn the basic screen layout and order controls before placing live trades.

Video 01

How to Log Into MT5

Use the correct account number, password and broker server before checking your connection status.

Steps

  1. Open MT5 on desktop or mobile.
  2. Go to the accounts area and choose to log in to an existing trading account.
  3. Enter your account or login number exactly as provided by your broker.
  4. Enter your password and select the correct broker server.
  5. Confirm that MT5 shows an active connection before placing any order.

Beginner note

If MT5 says the login is invalid, the most common causes are an incorrect server, mistyped account number or wrong password.

Screen layout

Understanding the MT5 Screen

The MT5 screen can feel busy at first, but most beginners only need to understand a few areas: Quotes or Market Watch, Charts, Trade, History, Orders, Positions, Balance and Equity.

Quotes / Market WatchWhere symbols such as EURUSD, GBPUSD and XAUUSD are listed.
ChartsWhere price movement is displayed for the selected instrument.
Trade tabWhere open positions, orders and account metrics are monitored.
HistoryWhere closed trades, charges and previous results can be reviewed.

Video 02

How to Add Gold and Forex Pairs on MT5

Add the markets you want to study before opening a chart or order ticket.

Steps

  1. Open Quotes or Market Watch.
  2. Search for a symbol such as EURUSD, GBPUSD or XAUUSD.
  3. Add the symbol to your visible list.
  4. Open the chart for the symbol you want to study.

Important note

Some brokers use symbol suffixes. For example, gold may appear as XAUUSD, XAUUSDm or another broker-specific version. Always confirm the exact symbol inside your broker’s MT5 environment.

Video 03

How to Place a Buy or Sell Trade on MT5

A trade should be placed only after the instrument, volume and risk plan are clear.

BUYUsed when a trader expects price to rise. This expectation can be wrong, so risk must be planned first.
SELLUsed when a trader expects price to fall. A sell order does not guarantee the market will move down.

Steps

  1. Select the instrument you want to trade.
  2. Open the New Order window.
  3. Choose volume after understanding position size and risk.
  4. Select Buy or Sell only after you understand the trade idea.
  5. Review the order details before confirming market execution.

Risk basics

What Lot Size Means

Lot size controls position size. Larger position sizes increase both potential gains and potential losses. Beginners should never choose random lot sizes or copy someone else’s volume without understanding the risk.

In a structured trading process, lot size is calculated from the account size, the stop distance and the amount a trader is prepared to risk on the idea.

LEARN RISK MANAGEMENT

Video 04

How to Set Stop Loss on MT5

Stop Loss is a predefined risk exit, not a random number added after entering.

Steps

  1. Open the order window or select an existing position to modify.
  2. Locate the Stop Loss field.
  3. Enter the price level where the trade idea is no longer valid.
  4. Save or modify the order, then confirm the level appears on the chart or Trade tab.

Execution note

A Stop Loss is a predefined risk exit. During extreme volatility or market gaps, execution may differ from the exact level shown on the platform.

Target planning

How to Set Take Profit on MT5

Take Profit is a predefined target exit. It tells MT5 where to close the trade if price reaches the planned target. A Take Profit does not make a trade guaranteed; it simply defines the intended exit level before emotion takes over.

Steps

  1. Open the order window or modify an existing position.
  2. Locate the Take Profit field.
  3. Enter the target price based on your trading plan.
  4. Confirm that the TP level is saved correctly.

Video 05

How to Modify an Open Trade

Open positions can be adjusted, but every change should still follow a rule.

Steps

  1. Open the Trade tab.
  2. Select the open position.
  3. Choose modify if you need to adjust Stop Loss or Take Profit.
  4. Review the new levels before saving the change.

Position control

How to Close a Trade

Closing a trade means exiting the position. On MT5, this is usually done from the Trade tab by selecting the position and confirming close. Always check the symbol and volume before closing so you do not close the wrong trade.

Steps

  1. Open the Trade tab.
  2. Select the position you want to close.
  3. Choose close position.
  4. Confirm that the position has moved from Trade to History.

Trade management

How to Partially Close a Position

A partial close exits part of the position while leaving the rest open. For example: position size is 1.00 lot, close 0.50 lot, remaining position is 0.50 lot.

Steps

  1. Open the Trade tab and select the position.
  2. Choose close or modify depending on your MT5 version.
  3. Change the close volume to the amount you want to exit.
  4. Confirm the remaining position size after execution.

Simple example

Position: 1.00 lot. Close: 0.50 lot. Remaining: 0.50 lot.

Video 06

Balance, Equity, Margin and Free Margin Explained

These account metrics help a trader understand what is happening while positions are open.

BalanceThe account value after closed trades, deposits and withdrawals.
EquityThe account value including current floating profit or loss.
MarginThe amount set aside by the broker to keep open positions active.
Free MarginThe remaining available margin after open positions are considered.

Margin level

Margin Level is a percentage that compares Equity to used Margin. Beginners should understand margin before trading leveraged products.

Review process

How to View Trade History

Trade history helps you review what happened after a position is closed. In MT5, use the History area to review symbol, position size, entry, exit, P/L, commissions where applicable and swaps where applicable.

A beginner should not only check whether a trade won or lost. The better habit is to keep a journal and review whether the decision followed a clear rule.

Avoid these

Common MT5 Beginner Mistakes

  • Using random lot sizes.
  • Trading without understanding risk.
  • Forgetting to use Stop Loss.
  • Confusing Balance and Equity.
  • Selecting the wrong broker server.
  • Opening a trade accidentally.
  • Overleveraging.
  • Ignoring spread.
  • Moving Stop Loss emotionally.
  • Trading symbols they do not understand.

What to learn next

You now understand how to operate MT5.

The next step is learning how markets, risk and structured trading actually work.

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Risk warning

Trading leveraged products such as CFDs involves significant risk. Educational material is provided for learning purposes and does not guarantee results.