How to open and close a trade
Choose the correct symbol
Open your broker's gold symbol (often XAUUSD or GOLD) and confirm the symbol specifications before trading.
Open New Order
Set the volume/lot size, then enter SL and TP levels from the plan. Do not increase size because the previous trade lost.
BUY vs SELL
BUY benefits if price rises; SELL benefits if price falls. Use only the direction shown by the qualified signal you are following.
Close or manage
Use the Positions tab to view open trades. Closing manually changes the planned outcome, so understand why you are doing it before overriding the plan.
Size the risk, not the excitement
Why lot size matters
The same $10 gold move can produce very different account results at 0.01, 0.10 and 1.00 lots. Contract size is broker-specific, so verify it in MT5 Symbol Specification.
Simple risk process
Decide the maximum account amount you are prepared to lose, measure the entry-to-SL distance, confirm contract/tick value, then solve for a lot size that stays within that risk.
SL defines invalidation
A stop loss is not a prediction that price cannot touch it. It is the predefined point where the trade idea is treated as invalid under the plan.
TP1 · TP2 · TP3
Targets are planned exit/reference levels. In the Master OF Gold tracker, TP1 is the official winning outcome and TP2/TP3 are extension updates.
Price move, pips and approximate P/L
Enter your broker assumptions. Default contract size 100 oz and pip size 0.10 are examples only—verify your broker specification before using the result.
Protect the account first
Fixed risk amount
Choose a maximum monetary loss before entry. The lot size should adapt to the stop distance—not the other way around.
No revenge sizing
Increasing size only to recover a previous loss changes the strategy risk and can compound drawdowns.
Respect quiet days
Zero signals can be a correct outcome. A system that waits for confirmation should not manufacture trades to stay busy.