A market order is an instruction to open a position at the current market price.
There are many ways to place a market order in the MT5 terminal:
- Click on the ‘New Order’ button on the ‘Standard’ toolbar
- Select ‘New Order’ from the ‘Tools’ drop-down menu
- Press F9
- Right-click an instrument in the ‘Market Watch’ window and select ‘New Order’
- Double-click an instrument in the ‘Market Watch’ window
- One-click trading
Proceeding with any of the above options will open up the ‘Order’ window. This will let you adjust the parameters of the position you are about to open. The ‘Symbol’ field allows you to change the instrument, while the ‘Volume’ field is where you set the size of the trade (lot). You may also set stop-loss and take-profit levels. You may then click ‘Sell by Market’ to open a short position, or ‘Buy by Market’ to open a long position.