Your demo account and MT5

Your demo account and MT5Lesson 6 of 87 min read

Your first trade

Placing one gold trade on the demo account with a stop loss and a take profit, in the order that keeps the size correct.

One practice trade on gold, with a stop and a target attached before it is sent.

This is not a trade idea. The point is the mechanics, not the direction.

The order of operations

Three steps, always in this order.

  1. Stop first. Decide the price where you would be wrong, from the chart.
  2. Size second. Work the lot size out from that distance and your risk, as in module 13.
  3. Button last. Only then open the ticket.

Doing it the other way round means picking a size you like and then fitting a stop to it. That is how the risk rule quietly stops applying.

Stop, size, then button. Never button first.

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