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Close a position at market price

Unlike limit orders, you can't specify a price when placing market orders because market orders use the current rate. The order gets executed as soon as it reaches the market, so the order will go through faster than a limit order.

Here we will look at how to close an open position on MetaTrader5 (MT5). You can close a position from the Toolbox or chart.

Step 1

Close a position from the Toolbox

Click the "Trade" tab of the Toolbox and double-click on the position you wish to close.

Click the Trade tab of the Toolbox and double-click on the position you wish to close Click the Trade tab of the Toolbox and double-click on the position you wish to close

Or, right-click on the position you wish to close and select "Close".

Or, right-click on the position you wish to close and select Close Or, right-click on the position you wish to close and select Close

Close a position on the chart

Double-click on the dotted line on the chart which indicates a position.

Related article: How to show position on chart

Double-click on the dotted line on the chart which indicates a position Double-click on the dotted line on the chart which indicates a position

Or, right-click on the dotted line on the chart which indicates a position and select "Close".

Right-click on the dotted line on the chart which indicates a position and select Close Right-click on the dotted line on the chart which indicates a position and select Close

Step 2

Click "Close".

Click Close Click Close

Step 3

Once the order is executed, the order details will be shown in the "History" tab of the Toolbox.

Once the order is executed, the order details will be shown in the History tab of the Toolbox Once the order is executed, the order details will be shown in the History tab of the Toolbox

Date

Created

 : 2022.08.23

Update

Last updated

 : 2022.08.25

Writer

Takayoshi Nakamaru

Manual production consultant, MBA

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Takayoshi Nakamaru

Nakamaru is a manual production consultant at FINTECS, a company that specializes in creating manuals for their clients.
With a wide range of experience from fintech to entertainment, he presents what user-friendly manuals should be like.
He works with numerous large corporations as an external manual production project manager.

【Business information】
http://www.fintecs.co.jp/profile/

Supervisor

Akira Takagi

Systems engineer, MetaTrader administrator

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Akira Takagi

After graduating from Computer Science at the Uninove, Brazil, in 2014, he has worked on various systems development projects.
He participated as a developer in the launch of forex services in 2019. Since then, he has also been involved in the development of MetaTrader plugins and APIs. He is certified by MetaQuotes as a MetaTrader5 Administrator and active in consulting and advisory as well.

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