If you’ve just joined a prop firm or you’re looking to sharpen your edge, chances are you’ve heard a lot about MetaTrader 5 (MT5). And for good reason—this platform is the best choice when it comes to features. But it can also feel a bit confusing when you’re staring at all those buttons, charts, and menus for the first time. Don’t worry, though. Once you get the hang of it, MT5 becomes a powerful tool in your trading arsenal. So let’s discuss how to navigate MT5 like a pro.
What Makes MT5 Different (and Better) Than MT4?
Before going into the navigation, let’s quickly clear that MT5 isn’t just a newer version of MT4. It’s built for different needs. While MT4 was perfect for spot forex trading, MT5 is a multi-asset platform. That means you can trade forex, stocks, futures, and even cryptocurrencies, depending on what your prop firm offers. But more importantly for us, MT5 has faster order execution, more technical indicators, deeper analytical tools, and support for more order types. Basically, if you’re planning to make trading your profession—especially within the prop firm world then MT5 gives you the flexibility and precision you need.
Getting Comfortable with the MT5 Layout
When you open the platform, it can look a bit cluttered at first. But once you understand what’s what, it starts to make sense.
The Main Sections
- Market Watch (Top Left): This is your watchlist. Here, you’ll see the symbols you’re trading, their bid/ask prices, and spreads. You can right-click and add/remove pairs or open charts straight from here.
- Navigator (Below Market Watch): Think of this as your toolbox. It holds your accounts, indicators, expert advisors (EAs), and custom scripts.
- Chart Window (Center): The heart of the platform. This is where you’ll analyze, draw, and make your decisions. You can have multiple charts open in tabs.
- Toolbox (Bottom): This section shows your trade history, current trades, alerts, mailbox, and journal logs.
Once you get used to the layout, it becomes second nature. A lot of pros will even tweak the setup so it matches their trading style—but more on that later.
Customizing Your Workspace Like a Pro
Trading isn’t a one-size-fits-all kind of thing. What works for one prop trader might not work for you. That’s why customizing your MT5 layout is a total game-changer.
Arrange Your Charts
Start by opening the pairs you trade most often. Right-click in the Market Watch panel > “Chart Window.” Do this for each one. Once open, you can use the “Tile Windows” option (top toolbar) to see all your charts neatly arranged. Some traders like one chart per pair, others might use different timeframes for the same asset.
Save Your Template
Once you’ve added your indicators for MT5, changed the colors, or adjusted the candles to your liking, right-click on the chart > “Template” > “Save Template.” Call it something easy to remember, like “MySetup.” Now, you won’t have to redo everything every time you open a new chart.
Hotkeys and Shortcuts
This is where the magic happens. Learn the keyboard shortcuts for what you do often. A few useful ones:
- F9 – Opens the order window.
- Ctrl + M – Market Watch toggle.
- Ctrl + N – Navigator toggle.
- Ctrl + T – Toolbox toggle.
These shortcuts help you move around fast—like a real-deal prop trader who doesn’t waste a second.
Mastering the Order Window
Let’s talk about placing trades. In the prop firm world, you need to be quick but also precise. The MT5 order window lets you do just that.
Hit F9 or click “New Order” on the toolbar. Here’s what you’ll see:
- Symbol: The asset you’re trading.
- Volume: This is your lot size. Double-check it every time.
- Stop Loss & Take Profit: Optional, but definitely recommended.
- Type: Choose between Market Execution or Pending Order.
Pro Tip:
Use pending orders when you’re planning entries ahead of time. For example, if you want to go long only after price breaks a key level, set a Buy Stop. This way, you don’t have to hover over the chart like a hawk all day.
Analyzing Charts the Right Way
Most prop firms will expect you to be proficient with technical analysis. And MT5 makes that a breeze once you know what tools to use.
Indicators
MT5 comes loaded with over 80 built-in indicators. To add one, just drag it from the Navigator onto your chart. The usual suspects like RSI, MACD, and Bollinger Bands are all there. You can also download custom ones or build your own if you’re into coding.
Drawing Tools
You’ll find drawing tools at the top—trendlines, Fibonacci retracements, rectangles, etc. Use them to map out your setups. They’re simple but powerful.
Want to go next level? Combine indicators with price action and market structure. That’s how funded traders stand out.
