Global GT, FXGT, Crypto GT will be traded using a trading tool called MT5. In other words, if you do not know how to use MT5, you can hardly trade. So, I am writing an article on how to place an order.
What is MT5
MT5 is a trading tool developed by MetaQuotes. It’s called Meta Trader 5 and its predecessor, MT4, is also popular, but GT Group can only use MT5. MT5 has a wide variety of indicators, and chart analysis can be done quite precisely.
Features of MT5
MT5 has various features and is currently the most used tool in the world.
Plenty of indicators
There are many types of MT5 indicators, and you can analyze charts in detail. There are more indicators than the previous version MT4. On the other hand, the operation becomes heavy and the EA of MT4 cannot be used.
automated trading
MT5 is the same as MT4, you can start automatic trading. You can adjust the tool with backtesting and operate discretionary trading while operating automatic trading, so you can broaden the range of trading.
Difference between MT4 and MT5
The previous versions, MT4 and MT5, are quite different in terms of performance. MT5 clearly outperforms and is still in development, so further improvements can be expected.
| MT4 | MT5 | |
| operating speed | slow | quick |
| memory consumption | few | many |
| time frame | few | many |
| update | No | Yes |
| development language | MQL4 | MQL5 |
| indicator | few | many |
Operating speed and load
MT5 has faster operating speed, and MT5 consumes more memory. MT5 was released in 2011. Currently, high-spec terminals are coming out, so memory consumption is at a level where you don’t have to worry about it.
update
The biggest problem will be updates. MT4 has been discontinued and there are no updates. In other words, even if a defect is found, it will not be repaired. On the other hand, MT5 is still under development and further improvements can be expected in the future.
time frame
MT5 is overwhelmingly superior in terms of time frames. There are 9 types of time frames in MT4, but there are 21 types in MT5. In addition, there are 30 types of indicators for MT4 and 38 types for MT5.
How to order
From here, let’s explain how to actually trade using MT5.
PC version
Start MT5 first. Select “New Order” from “Tools” in the MT5 menu. The Place Orders window opens.
The order screen looks like this:
Symbol: You can select other currency pairs from the pulldown.
Quantity: Enter the lot.
Place an order: Press the “Sell” or “Buy” button.
Order type: The type part corresponds to it. It’s usually a “countdown order”. If you select Pending Order, “Type” will appear as a field below.
Type: Specify the ordering method here. The following can be specified.
Buy Limit
Sell Limit
Buy Stop
Sell Stop
Buy Stop Limit
Sell Stop Limit
Stop Loss: Specify the stop loss price.
Take Profit: Specify the take profit price.
To check your position, select the “Trade” tab under the tool and you can check the position you have placed. At the time of payment, manual payment is possible by right-clicking on the order part.
Smartphone version
For the smartphone version, start the app first. Tap the stock you want to trade on the quote display screen, and tap New Order to move to the order screen.
An order screen will appear. Place an order by tapping either Sell or Buy.
Lot: Adjust the number of lots with the number at the top.
Stop Loss: Specify the stop loss price.
Take Profit: Specify the take profit price.
Sell Market: Place a sell order.
Market Buy: Place a buy order.
The settlement method can be settled by sliding the position itself to the left from the trade tab of the tool. Manual payments can be made instantly.
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