In addition to the title question, I also want to find a non-trivial right ideal and a non-trivial left ideal of $M_2(\mathbb{R})$ .
Attempt of title question:
Suppose $\exists I\subset M_2(\mathbb{R})$ s.t. $\forall x\in I, \forall r\in M_2(\mathbb{R})$, $rxr\in I$ $\Rightarrow $ $rx\in I, xr\in I$, but $M_2(\mathbb{R})$ is a non-commutative ring. So, w.l.o.g. if $rx\in I$ then $xr\not\in I$. Contradiction. I have an inkling this is mistaken.
I am also confused about the left and right ideals, but an idea that seems to work for a right ideal is to let $x=\begin{pmatrix} 1 & 1 \\ 0 & 0 \end{pmatrix}$. A left ideal would be similar.