for example, if im playing an A in the 5th fret of the 6 string and want to go an octave higher does it matter of i go to the 7th fret of the 4 string or to the 2nd fret of the 3rd string?
They're both one octave apart from A in 5th fr. of 6th string (or 5th string free). Only difference can be a sound. Thinner strings have a brighter tone.
And what about chords?
Originally Posted by: stevelankford313And what about chords?
You can transpose chords (just like single notes) up or down the guitar (or any musical instrument) as far as the range of the instrument extends. I cover this in this series of tutorials on triads & inversions.