How to Open and Close a Position on MetaTrader 5

How to open and close a position on MetaTrader 5: the order ticket field by field, the three ways to close, partial closes, what the confirmation tells you, and the three checks to run before clicking Buy.

Opening a position on MetaTrader 5 takes four fields and one click. Closing it takes one click. The part worth reading carefully is what to check before the click, and what the confirmation is telling you afterwards.

Key Takeaways

• F9 opens the order ticket. Volume, Stop Loss and Take Profit are the fields that matter.
• Positions are closed from the Trade tab, from the chart, or by an opposing order — and partial closes are allowed.
• One-click trading opens positions with no stop attached. Know whether it is enabled.
• Three checks before clicking: size calculated, stop set, calendar clear.

Opening a Position

1. Press F9, or right-click the symbol in Market Watch and choose New Order, or double-click the symbol.
2. Check the Symbol field is the instrument you intend.
3. Set the Volume in lots — see what is a lot. The value should come from a position sizing calculation, not from habit.
4. Set Stop Loss and Take Profit as prices. For a Buy, the stop is below the current price. See how to set stop-loss and take-profit on MT5.
5. Choose the Type: Market Execution for now, Pending Order for a level. See market orders vs pending orders.
6. Click Buy by Market or Sell by Market.

Reading the Order Ticket

The ticket also displays the margin required for the volume entered. That figure is what the position will hold, not what it can lose — see what is margin.

The Confirmation

After execution, the confirmation shows the fill price, which may differ from the price on screen when you clicked. That difference is slippage, and it is worth glancing at every time — a pattern of consistently poor fills is information about conditions or timing.

The position then appears in the Toolbox → Trade tab with a live Profit column, and the account line beneath updates on every tick. See how to read balance, equity and margin in the MT5 terminal.

Closing a Position

Three ways:

• The × button at the right of the position row in the Trade tab.
• Right-click the position → Close Position, which opens a dialog allowing a partial close.
• On the chart, right-click the position line → Close.

A position also closes automatically when its Stop Loss or Take Profit is reached.

Partial Closes

In the close dialog, reduce the volume before confirming. Closing 0.05 of a 0.10 lot position leaves 0.05 open with the same stop and target. This is commonly used to reduce exposure while leaving part of the position running — and it changes the risk on the remainder, so the stop should be reviewed at the same time.

One-Click Trading

If enabled, clicking Buy or Sell on the chart panel opens a position immediately with no order ticket and therefore no stop attached. The stop must then be added from the Trade tab. It is faster and it removes the step at which most checks happen; whether that trade-off is worth it depends on the approach.

Three Checks Before Clicking

1. Is the volume calculated from the stop distance? Not from what looks reasonable.
2. Is the stop set in the ticket? Adding it "in a minute" is how positions end up without one.
3. Is the calendar clear for the intended holding period? Both sides of the instrument. See how to use an economic calendar.

The full version is the pre-trade checklist.

Worked Example

$5,000 account, $50 risk, EURUSD at 1.0850, stop at 1.0825 (25 pips).

Every number was known before the click. That is the whole point of the ticket.

(Illustrative. Excludes spread, commission and financing.)

Common Mistakes

• Wrong symbol. Similar tickers, one click.
• Volume typed by habit.
• Stop left empty with the intention of adding it later.
• Confusing margin with risk. The ticket shows margin; the stop determines risk.
• Opening on a one-click panel and forgetting the stop entirely.

How do I open a trade on MT5?

Press F9, set the volume and the stop and target, then click Buy or Sell by Market.

Can I close only part of a position?

Yes. Right-click the position, choose Close Position, and reduce the volume before confirming.

Why did my order fill at a different price?

Slippage. The market moved between the click and the match, or liquidity at the displayed price was insufficient.

What does the margin figure in the ticket mean?

The collateral the position will hold, not the amount it can lose.

Does closing a position cost anything?

You cross the spread on exit as you did on entry, and commission applies where the instrument carries one.

Related Guides

How to use MetaTrader 5 · How to set stop-loss and take-profit on MT5 · MetaTrader 5 order types explained · Position sizing · Slippage · Pre-trade checklist