Level 3 · Lesson 3 of 12 · 6 min read
Placing a Market Order: Step by Step
Your first trade. Walk through every click.
Researched and written by Laurent The Complete Walkthrough
You've analyzed the market (or for now, you're just practicing). You believe EUR/USD will rise. Here's exactly how to place the trade:
Placing a Buy Market Order on MT4/MT5
1
Open the order window: Press F9, or right-click the chart > Trading > New Order, or click "New Order" in the toolbar.
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2
Select the pair: Should auto-fill to the chart you're viewing (EUR/USD). Verify it's correct.
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3
Set the lot size: Type 0.01 (1 micro lot). Do NOT use 0.10 or 1.00 as a beginner.
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4
Set Stop-Loss: Enter the price level (e.g., 1.0820 if buying at 1.0850). This limits your maximum loss.
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5
Set Take-Profit: Enter your target (e.g., 1.0900). This automatically locks your profit.
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6
Click "Buy by Market" (blue button). The trade executes instantly.
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7
Check the Terminal tab: Your trade appears with entry price, SL, TP, and live P/L. ✅
What You'll See After Opening
In the Terminal panel (Trade tab), your open position shows:
| Field | Value | What It Means |
|---|---|---|
| Symbol | EUR/USD | The pair you're trading |
| Type | Buy | You're long (expecting price to rise) |
| Volume | 0.01 | 1 micro lot ($0.10 per pip) |
| Price | 1.08502 | Your entry price (ask) |
| S/L | 1.08200 | Stop-loss level |
| T/P | 1.09000 | Take-profit level |
| Profit | -$0.20 | Slightly negative (the spread cost) |
Why is the profit negative immediately? Because you entered at the ask price (higher) but the current exit price is the bid (lower). The difference is the spread. On a micro lot with a 2-pip spread, that's about $0.20. Price needs to move 2 pips in your favor just to break even. This is completely normal.
The Most Important Reminder
Before you click buy or sell, check these three things:
- Lot size: Is it 0.01? (Not 0.10 or 1.00?)
- Stop-loss: Is it set? (Not zero or blank?)
- Take-profit: Is it set? (Do you have an exit plan?)
If any answer is wrong, do not click. Fix it first.
Your first trade: Your hand will shake when you click "Buy" for the first time. Even on a demo account with fake money. This is completely normal. The shakiness goes away after about 20 trades. The excitement never fully does, and that is fine.
Key Takeaways
- • Always set your stop-loss and take-profit BEFORE clicking buy/sell.
- • Double-check the lot size. 0.01 (micro) is where beginners should start.
- • The trade appears in the Terminal panel under the "Trade" tab.
- • Your P/L starts slightly negative due to the spread. That is normal.