MetaTrader 5 platform comes up with everything that is needed for successful trading. This includes up-to-date account information together with a powerful trading system. This platform also has a Market Depth, a different accounting order and trades, in which support all types of trading orders and execution modes.
Two Position Accounting Modes
The MetraTrader 5 platform has two order accounting modes: the netting mode that was adapted on exchange markets and the hedging method that can be used for Forex trading. The trader can have only one open position of the financial instrument at a time when using the netting system.
In that, the volume of the position the trader can be increased or reduced through any following operation on the same symbol. In contrast to that, the hedging system opens a new position in any new deal on a financial instrument. The levels for Individual Stop Loss and Take profit can be set for each of the open positions.
MetraTrader 5 is a powerful trading system that guarantees a flexible control over trading operations. It provides all the important choices for successful trading on Exchange markets and Forex.
Trading on Forex or Exchange Markets can be executed through an order. Order is a request to the broker to trade (to buy or to sell) a financial security. If the order is executed, it becomes a deal.
All types of trade orders can be supported by MetaTrader 5 such as market, pending and cancel orders as well as Trailing Stop. These execution modes can meet various trading goals like Instant, Request, Market and Exchange execution.
Market orders are used for instant execution. For an instance, the trader will be able to execute an operation by only sending an order if the trading strategy needs to have a deal which is instantly executed.
The trader consents the execution by giving such an order, the brokerage company will then execute the order at any price. Conversely, a deal can be executed at the specified price if it is significant to enter the market as precisely as possible. The trade request will be completed instantly if the broker confirms the price.
Pending orders are decided immediately and can be executed further as soon as the market situation meets the specified condition.
For instance, a trader can buy currencies, stocks and other securities in a Buy Stop order as soon as their price will be higher than the occurring. This request is used when the trader expects a continuous upward movement or will rise to a specific level on a security price.
Stop orders assists the traders to protect their gathered profits and minimize the losses. These orders can be applied in combination with pending or market orders besides trades positions. Pending orders constantly set a specific distance from the current price or the opening price.
For example, the trader places a Buy Stop order and sets the Stop Loss level at 150 points below the opening price. When the forecast of the increase in price fails and the market turns in the opposite direction, then the set function will help to reduce the losses.
Stop Loss order can be changed automatically to have a specific distance from the current price. Trailing Stop function Is used for “chasing” the Stop Loss to come after the current price if there is an increase in profit from a position. The level of stop loss will not be changed if the price turns in the opposite direction. Trailing Stop will help to reduce the losses and protect profits.
Operating with Orders
MetraTrader 5 gives options for placing orders in the platform supreme advisability. The trader can place orders in the Market Watch window from Market Depth by using hot keys from the chart of a financial instrument. An order can be sent easily with One Click Trading option.
In depth information about all the orders and open positions are always available in the Toolbox-Trade window. Traders can track their number of orders and positions, open prices, volumes, stop orders or simply their account status. The tool also gives direct access to the history of all deals with full details in one window.
Built-in reports are also available as it is needed importantly for evaluating the effectiveness of trading operations. It can analyze several different trade values: expected pay-off, number of trades, profit factor, average profit/loss and many other parameters. This valuable information can help the trader to evaluate a trading system or compare results of different trading strategies.