How to open and close an order in MetaTrader?

The MetaTrader trading platform offers some options to open and close a transaction. Let us take a closer look at some available options and provide more details about them.

How to open a new order on the MetaTrader Platform?

First, you must open the chart of the instrument you want to trade, study the market trend and make the corresponding investment decision. Once the instrument has been chosen, we can open a position by following the next steps:

• In the main menu of your trading platform, go to the “New Order” option. After clicking, a new dialogue window will be opened in which you can enter the type of order and all the parameters of this operation, including the stop loss and take profit. You can also open this window by pressing the F9 key on your keyboard (Mac users fn + F9).

• You can also introduce a new order following this path: Tools – New Order

• You can also access the previous “New Order” window through "Market Watch." To do this, you must click with the right mouse button on the desired instrument and choose the “New order” option.

• The fourth option is to trade directly through the chart. To do this, you can click the right mouse button to directly enter a pending order at that level or access the “New Order” window again if you want to enter an order in the market.

• The fifth option is to access the "New Order" window in your toolbox (terminal in MT4). To do this, you can click the right mouse button in this field and choose "New Order".

• Finally, you can open a new order through the “one-click trading” option. This is the fastest way to introduce a new order into the market and is the preferred option for scalpers. In this option, you only have to establish the volume you want to operate and click on the “Sell” or “Buy” option.

Remember that for this option, you must first activate the “One-Click Trading” option on your MetaTrader platform. To do this, you just must follow the path: Tools -> Options -> Trade

How to close a trade on the MetaTrader platform?

Once you have opened a trade, you can always close this trade either manually or through Stop Losses or Take Profits. If you have not established these risk levels to close an order, you should go to our toolbox on the MetaTrader platform and, in the "Trade" tab, follow these steps:

• You can close a trade by clicking on the cross mark that will appear to the right at the end of the chosen position. Please remember that “one-click trading” must be enabled too.

• The second option is to close this operation under the trade tab with the right click on the position, then you will get the option “Close position”

• The last one is closing the position by double-clicking the position you choose to close under the Trade tab. A dialogue box appears, and you can close it.

There is always a possibility of errors or failures occurring on the internet, and other technological systems can be vulnerable to malfunctions. For such cases, Admirals highly recommends that each customer familiarizes with the additional trading opportunities available, such as installing the trading platform on another laptop/PC, downloading a mobile trading platform application on a tablet/smartphone, or using our platforms available through the Dashboard such as WebTrader and the Admirals platform.

Admirals provides a possibility to use (as a contingency measure only) a phone dealing service for the execution of the customer's trading orders.