I have connected my store with SSH terminal and then I navigated to the root directory of my store where I run the following command
*/5 * * * * cron.sh
But its showing this error: bash: */5: No such file or directory
What you've written isn't a command that you can enter in the shell - it's a crontab entry that should go in a special file, which you can edit using crontab -e (user crontab) or sudo crontab -e (root crontab)
To output/view the crontab of the current user
To view the crontab of another user you would need sudo permissions
sudo crontab -l -u nameOfOtherUser
The possible cron line using full path to php
*/5 * * * * /usr/bin/php /var/www/html/sitename/cron.php
or for debugging purposes
*/5 * * * * /usr/bin/php -q /var/www/html/sitename/cron.php > /var/www/html/sitename/cron-error.log 2>&1
Take a break and restore any changes you've made to your cron.sh file and crontab. There is an easy and breezy way to setup Cron on your Magento store. I do this for every store I setup and it always work.
php -f shell/compiler.php disable
System > Cache Management > (Select All) > Actions: Disable > Submit
Then log out of Admin Panel.
Install AOE Scheduler from Magento Connect from this link: https://www.magentocommerce.com/magento-connect/aoe-scheduler.html
After installation, run Magento compiler:
php -f shell/compiler.php enable php -f shell/compiler.php compile
System > Scheduler > Instructions
Make sure you enable all recommended options.
If everything went well, you will see:
Scheduler is working. (Last heart beat: x minute(s) ago)
Now Magento cron is functioning well. And all your newsletters, backups, transactional email jobs will execute according to the setting at:
System > Scheduler > Job Configurations