In the previous lesson, we created an FTMO Free Trial and located the three account credentials required to connect it to MetaTrader 5:
Login ID;
Password;
Server.
Now we are going to use them.
Throughout the Academy, we work with two platforms that have different roles.
TradingView
We use TradingView to:
analyse the market;
identify our setups;
mark important levels;
define our Entry, Stop Loss, and Take Profit;
prepare the trade before execution.
MetaTrader 5
We use MetaTrader 5, or MT5, to:
execute trades;
manage open positions;
set or modify Stop Loss and Take Profit;
monitor the account and open P&L;
close positions when required.
The distinction is important:
TradingView is where we make the trading decision. MT5 is where we execute it.
We do not need to turn MetaTrader into another analysis platform.
Our objective is much simpler.
In this lesson, we will take the Free Trial prepared in Lesson 4, connect it to MetaTrader 5, become familiar with the essential areas of the platform, prepare a simple execution workspace, and learn how to transfer the levels identified through our TradingView analysis into MT5.
By the end of the lesson, we want to be able to connect our account, find the instruments we trade, navigate the platform confidently, open a Demo position, enter and modify Stop Loss and Take Profit levels, monitor the position, and close it correctly.
Why We Practise in Demo First
Before using MT5 in a paid evaluation or with personal capital, we want the basic actions on the platform to become familiar.
We should know where everything is before money or evaluation rules create additional pressure.
A Demo environment allows us to learn how to navigate the platform, find the correct instrument, prepare an order, open and close positions, enter Stop Loss and Take Profit levels, and monitor an active trade without financial risk.
At this stage, the result of an individual Demo trade is not important.
We want the mechanics to become familiar enough that they do not distract us when we eventually use MT5 to execute our strategy.
The Free Trial prepared in Lesson 4 gives us exactly that environment.
Setting Up MetaTrader 5
The objective of this section is practical.
We want to start with the FTMO Free Trial credentials obtained in Lesson 4 and finish with the account connected and ready to use inside MetaTrader 5.
Keep these three details available:
Login ID
Password
Server
The exact appearance of MetaTrader 5 can vary slightly depending on the device, operating system, and version being used. If a screen or menu looks slightly different, follow the current options displayed by the platform.
Download MetaTrader 5
First, we need MetaTrader 5 installed on our device.
Use the MT5 download option provided for the account or the appropriate MetaTrader 5 version for your device.
Download the installation file and follow the installation instructions.
We do not need additional indicators, Expert Advisors, templates, or other tools at this stage.
Our objective is simply to prepare the standard platform for execution.
Install and Open MetaTrader 5
Complete the installation and open MetaTrader 5.
When the platform first opens, we may see a default workspace containing charts, instruments, menus, and several different panels.
Do not worry about configuring everything yet. First, we want to connect the FTMO Free Trial.
Open the Account Login
From the MetaTrader 5 menu, go to: Settings → New Account.
A new Brokers page will be displayed. In the Enter company or server name field, type FTMO. From the newly displayed list, select FTMO Server → FTMO Demo.
Enter the FTMO Credentials
Enter the three account details from Lesson 4:
Login: enter the Login ID provided for the Free Trial;
Password: enter the corresponding trading password;
Server: select or enter the Server associated with that account.
Paragraph...
Understanding the MetaTrader 5 Workspace
Once the account is connected, we can become familiar with the platform itself.
We do not need to learn every function.
For our workflow, a few areas matter most.
Market Watch
Market Watch displays the instruments available through the connected account together with their current prices.
This is where we can find and select the instrument we want to trade.
Depending on the account, not every available instrument may initially be visible. We will see how to add the ones we need shortly.
Main Chart
The Main Chart displays the price movement of the selected instrument.
For us, its role inside MT5 is primarily informative.
We can use it to confirm the instrument, observe current price movement, and make sure we are looking at the correct market before executing.
MT5 also provides timeframes, drawing objects, indicators, and other charting functions.
We do not need to reproduce our complete TradingView analysis inside MT5.
Our detailed market analysis, important levels, market structure, zones, and trade preparation remain on TradingView.
Adding the Instruments We Trade
After connecting the account, we need to make sure that the instruments we want to trade are visible in Market Watch.
Depending on the account provider, not every available symbol will necessarily be displayed by default.
Some of the markets we will commonly encounter include:
SPX500
SPX500 represents exposure to the S&P 500, an index tracking 500 large US companies.
US100
US100 represents exposure to the Nasdaq-100, an index containing many of the largest non-financial companies listed on the Nasdaq exchange.
GER40
GER40 represents exposure to Germany's DAX 40 index.
XAUUSD
XAUUSD represents Gold priced in US dollars.
Depending on the account provider, these markets may appear under different symbol names.
For example, one provider may use GER40 while another uses a different abbreviation for the same underlying market.
Always confirm the underlying instrument before trading rather than relying only on a familiar-looking symbol.
Once an instrument has been enabled, it will appear in Market Watch and can be opened directly from there.
Preparing a Simple MT5 Workspace
Once our instruments are available, we can make a few basic adjustments to the workspace.
MetaTrader 5 offers many customisation options.
We can change chart colours, display styles, grids, scales, indicators, objects, and layouts.
We do not need most of them.
The objective is simply to create a clean workspace that allows us to recognise price clearly and execute without unnecessary visual clutter.
The setup charts below are the ones we recommend for intuitive and friendly use.
Chart Type
For our workspace, we use Candlesticks.
This keeps the visual representation familiar and consistent with the charts we use during analysis.
Background and Candle Colours
We can choose a chart background and candle colours that are easy to read.
For example, we may use a dark or light background depending on our preference and clearly distinguish bullish candles from bearish candles.
The specific colours are not important.
Clarity is.
Grid
The chart grid can be removed if we find that it adds unnecessary visual clutter.
A cleaner chart can make it easier to focus on the information we actually need during execution.
Scale and Zoom
We should also know how to zoom in or out and adjust the chart scale when necessary.
We are not doing this to perform detailed analysis in MT5.
We simply want the current price action to be displayed clearly enough that the chart remains useful during execution.
Keep It Simple
There is nothing wrong with making MT5 visually comfortable to use.
But we do not need to spend significant time customising it.
Remember the division we established earlier:
TradingView = Analysis
MetaTrader 5 = Execution
Our MT5 workspace only needs to be clean enough that we can quickly:
find the correct instrument;
confirm what we are trading;
enter the position correctly;
monitor and manage it.
That is enough.
Working with Timeframes
MetaTrader 5 gives us access to the familiar timeframes we have already encountered while working with charts.
These include:
M1 - 1 minute;
M5 - 5 minutes;
M15 - 15 minutes;
H1 - 1 hour;
D1 - 1 day.
We should know how to change between them and always be aware of which timeframe is currently displayed.
However, we do not need to reproduce our TradingView analysis inside MT5.
The analytical role of each timeframe belongs to our strategy and the workflow we have already established.
Here, the objective is simply to become comfortable changing the timeframe and recognising what is currently displayed.
From TradingView to MetaTrader 5
Now we can connect the two platforms into one workflow.
We first analyze the market on TradingView, as we’ve seen in previous lessons in this chapter.
Before moving to MT5, we should already know the important elements of the planned trade:
Entry;
Stop Loss;
Take Profit;
the amount we are prepared to risk.
Only then do we move to the execution platform.
Our workflow is:
Analyse → Plan → Execute → Verify → Manage
This separation helps us avoid an important mistake.
We do not want to open MT5, watch price moving, and make an impulsive trading decision simply because the market is in front of us.
The analytical decision comes first.
Execution comes second.
Once we move to MT5, our job is to transfer the prepared trade correctly.
Opening a Demo Position
Now that the account and workspace are ready, we can practise executing a position.
Before opening any trade, select the correct instrument by clicking on it and open the New Order window.
There are several fields available.
We only need to understand the ones relevant to our current workflow.
Symbol
The Symbol tells us which instrument we are about to trade.
Before confirming an order, we should always check it.
A correctly prepared GER40 trade does not help us if we accidentally execute the order on US100.
Volume
Volume determines the size of our position.
Depending on the instrument and account, MT5 may display position size in lots.
One distinction is important:
The Volume shown in MT5 is not the amount of money we are risking.
Volume defines the position size.
The monetary risk of the trade also depends on factors such as the instrument, our Entry, and the distance to our Stop Loss.
For now, we only need to understand where the Volume field is and that changing it changes our exposure.
We should not select 0.10, 0.50, 1.00, or any other value simply because it appears convenient.
When executing our strategy, position size should be determined by our predefined risk rather than selected at random.
Order Type
The New Order window may provide different ways of entering the market.
At this stage, our objective is not to explore every available order type.
We want to understand the basic execution process and become comfortable entering the information required for the trade we have already prepared.
More advanced order functionality can be introduced when it becomes relevant to our strategy.
Buy and Sell
Once the order has been prepared, we select Buy or Sell according to the direction already established through our analysis.
For our first exercises, we can practise both directions in Demo simply to understand how the platform behaves.
The objective at this stage is to learn the execution mechanics.
A Note on Leverage
Leverage allows a trading account to control a position whose market exposure is larger than the capital required to open it.
This does not mean that the maximum leverage available should determine how large our position is.
Greater exposure can amplify both profits and losses.
For us, the principle is more important than the leverage ratio itself:
Position size should come from the amount we are prepared to risk and the distance to our Stop Loss, not from the maximum leverage available.
We will deal with risk and position sizing through the appropriate risk-management process rather than using leverage as a reason to increase exposure.
Setting Stop Loss and Take Profit Before Execution
When preparing an order, MetaTrader 5 allows us to enter Stop Loss and Take Profit levels before the trade is submitted.
This allows us to transfer the levels already defined through our TradingView analysis directly into the order.
At this stage, the objective is not to decide where the correct Stop Loss or Take Profit should be placed.
That decision comes from our strategy, market analysis, and risk-management process.
We simply want to become comfortable entering the levels that have already been determined.
Before confirming the order, check that:
the correct Symbol is selected;
the Volume is correct;
the Stop Loss matches the planned level;
the Take Profit matches the planned target;
the trade direction is correct.
For a Buy position, the Stop Loss will normally be below the Entry and the Take Profit above it.
For a Sell position, the Stop Loss will normally be above the Entry and the Take Profit below it.
Once everything has been checked, we can submit the order.
Verifying the Position After Execution
Opening the position is not the final step.
Once the order has been executed, we should immediately verify that the position matches what we intended to open.
Locate the position in the Trades and check:
the instrument;
Buy or Sell direction;
Volume;
Entry price;
Stop Loss;
Take Profit.
This takes only a few seconds.
But it can prevent a simple execution error from becoming a trading problem.
A trade that was analysed correctly can still be executed incorrectly.
For this reason, execution is not complete until we have verified the position.
Modifying Stop Loss and Take Profit
Stop Loss and Take Profit levels can also be added or modified after a position is open.
This is useful to understand even if our intention is normally to prepare those levels before execution.
When modifying a position, make sure that:
the correct position is selected;
the new Stop Loss is the level we actually intend to use;
the Take Profit corresponds to the planned target;
we confirm the modification before leaving the window.
The ability to modify a position does not mean that we should change our levels simply because price is moving.
The platform gives us the function.
Our strategy determines when a modification is justified.
Monitoring an Open Position
Once a position is open, we can monitor it through the relevant area of the Trades.
We can see information such as:
the instrument;
position direction;
Volume;
Entry price;
Stop Loss;
Take Profit;
current profit or loss.
MT5 will also update the account information as the market moves.
Balance
Balance reflects the account value based on completed trading activity.
Equity
Equity reflects the current account value while open positions are also taken into account.
This means that Equity can change while a trade is still open.
Margin
Margin represents the amount of account resources being used to maintain open positions.
We do not need to calculate or manage every margin concept manually at this stage.
We simply need to recognise the information and understand that position size and leverage affect the amount of exposure we take.
Closing a Position
A position can be closed manually from MetaTrader 5.
Locate the open position in the Toolbox and use the available close function to exit it.
Once the position is closed, it is no longer exposed to future market movement.
The resulting profit or loss is then reflected in the account.
For our Demo practice, we should become comfortable closing a position manually so that we know exactly where the relevant controls are.
After closing the trade, we should also know where to find it in the account history.
This allows us to confirm that the trade has been completed and review information about the transaction later if necessary.
When we begin executing actual strategy setups, however, the decision to exit should come from the trading plan.
The platform simply allows us to carry out that decision.
What We Do Not Use MetaTrader 5 For
MetaTrader 5 is a capable platform, and many traders use it for much more than execution.
That does not mean we need to.
Within our Academy workflow, we do not rely on MT5 for:
detailed market analysis;
mapping market structure;
marking all of our important zones;
advanced chart preparation;
our primary Backtesting process.
Those tasks remain part of our TradingView workflow.
For MT5, we keep the role focused:
Execute → Verify → Manage → Monitor → Close
This separation keeps the workflow simple.
We do not need two different analytical environments competing for our attention.
A Practical Example
Suppose our analysis on TradingView identifies a potential Buy setup on GER40.
Before moving to MT5, we have already determined:
Entry;
Stop Loss;
Take Profit;
the amount we are prepared to risk.
The analysis is complete.
We now open MT5 and select GER40.
Before doing anything else, we confirm that we are working with the correct instrument.
Next, we open the New Order window.
We enter the position size determined by our risk plan and confirm that we intend to open a Buy position.
We then enter the Stop Loss and Take Profit levels already identified through our TradingView analysis.
Before submitting the order, we check:
Symbol;
Volume;
direction;
Stop Loss;
Take Profit.
Only then do we execute the position.
Once the trade is open, we immediately locate it in the Trades and verify the information again.
Is the correct instrument open?
Is the direction correct?
Is the position size correct?
Is the Stop Loss where we planned it?
Is the Take Profit correct?
If everything matches the plan, execution is complete.
From that point, we manage the position according to our strategy rather than reacting to every movement in the P&L.
When the conditions for closing the position are met, we exit through MT5 and confirm the completed trade in our account history.
The complete workflow is:
Analyse → Plan → Execute → Verify → Manage → Close
Each stage has a purpose.
By separating them, we reduce the chance that a simple platform mistake changes a correctly prepared trade.
Your Turn
Now we want to complete the entire process ourselves.
Use the FTMO Free Trial prepared in Lesson 4 and work through the following exercise.
1. Connect the Account
Open MetaTrader 5 and connect the FTMO Free Trial using your:
Login ID;
Password;
Server.
Confirm that the intended account is connected before continuing.
2. Identify the Workspace
Locate:
Market Watch;
Main Chart;
Navigator;
Trades;
New Order.
Make sure you understand the purpose of each area.
You do not need to explore every function.
3. Add the Instruments
Open the Symbols window using:
Ctrl + U or View → Symbols
Find the instruments available on your account that correspond to:
SPX500;
US100;
GER40;
XAUUSD.
Pay attention to any differences in symbol naming and confirm the underlying market.
4. Prepare the Workspace
Open one of the instruments.
Select Candlesticks and make the basic visual adjustments you prefer.
For example:
choose a clear background;
distinguish bullish and bearish candles;
remove the grid if preferred;
practise adjusting the chart scale and zoom.
Keep the workspace simple.
5. Practise Navigation
Move between several instruments and change between a few timeframes.
The objective is to become comfortable navigating MT5, not to repeat your TradingView analysis.
6. Prepare a Demo Trade
Choose one instrument and define:
Entry;
Stop Loss;
Take Profit.
For this platform exercise, the levels can be defined purely for practice.
The objective is to learn the execution process, not to evaluate the quality of the setup.
7. Prepare the Order
Open the New Order window.
Before executing, confirm:
Symbol;
Volume;
direction;
Stop Loss;
Take Profit.
Do not select an arbitrary Volume simply because a particular number appears convenient.
8. Execute and Verify
Execute the Demo position.
Immediately locate it in the Toolbox and confirm:
instrument;
direction;
Volume;
Entry;
Stop Loss;
Take Profit.
If something does not match what you intended, identify the problem before continuing.
9. Modify the Position
Make a small modification to the Stop Loss or Take Profit.
Confirm the change.
Then restore the original practice level.
The purpose is to learn how to modify an existing position while there is no pressure.
10. Monitor the Position
Locate:
Balance;
Equity;
Margin;
current P&L.
Observe how the information changes while the position remains open.
Do not use the changing P&L as a reason to alter the practice trade.
11. Close the Position
Close the position manually.
Then locate the completed trade in the account history.
Do not evaluate the exercise based on whether the trade made or lost money.
Evaluate whether you could complete the full workflow correctly:
Connect → Navigate → Prepare → Execute → Verify → Modify → Monitor → Close
The objective is familiarity.
The Xcelerate Trade Perspective
MetaTrader 5 should eventually become one of the least complicated parts of our trading process.
That is a good thing.
The difficult work happens before execution.
We analyse the market.
We wait for our setup.
We define the trade.
We determine the risk.
By the time we reach the execution platform, most of the decisions should already have been made.
Good execution should feel almost mechanical. The analysis determines what we want to do; the platform allows us to do it correctly.
We do not need to master every menu, indicator, or function inside MetaTrader.
We need to master the functions that allow us to execute our plan correctly.
Once those actions become familiar, the platform stops demanding our attention and becomes what it should be: a tool for turning a prepared trading decision into a correctly executed position.
With TradingView prepared for analysis, FTMO understood as our funded-account reference, and MT5 configured for execution, we now have the practical environment required to trade.
But having the right tools, understanding the process, and knowing how to execute a trade are only part of the equation.
The next challenge is ourselves.
In Chapter 5, Trader Psychology and Building the Right Mindset, we will focus on the psychological side of trading: how emotions influence our decisions, why discipline and consistency matter, how we respond to wins and losses, and how we begin developing the mindset required to follow our trading process over time.
See you in Chapter 5!