Trading Bitcoin Set SL Order in the MT5 Platform

How Do You Trade Bitcoin and Place SL Order in MT5 Platform Software?

A SL order is an order used in bitcoin trading to close-out an open trade if the trade transaction moves against the online trader's open trade position by a certain number of pips.

Once the StopLoss order is set at a specific level, this SL order will automatically close out-outclose the open trade once the chart gets to this SL order bitcoin price level. SL order is used in btcusd money management so as to prevent and stop further losses if a trade is going against the direction of the online trader's open trade.

Set SL Setting When Opening New Order in the Tools Menu in MetaTrader 5 Software Platform

To open a new btcusd cryptocurrency order to buy or sell a trade use tools menu within MT5 Software as is illustrated below.

The New bitcoin crypto order button for opening a new bitcoin crypto trade is shown below. (MT5 Short-cut key board Keys 'F9')

Trading Set SL Crypto Order in the MT5

Once you select the new bitcoin order button as high-lighted and shown above the following bitcoin trade order window popup will appear and you as a trader can use this trade order window popup to set SL Level for your new bitcoin trade.

This pop up includes the settings for placing a new bitcoin order as well as settings for setting Stop Loss Level.

Set SL Crypto Order on the MT5 Platform?

Following StopLoss Order Settings are specified for setting up & placing a new SL bitcoin cryptocurrency order:

StopLoss - Set StopLoss Order, This option also can be setup after opening the trade, or for a pending bitcoin crypto orders

Open Buy or Sell BTCUSD Crypto Trade by Clicking the Following Button:

Sell by Market - Open a Sell Bitcoin Trade
Buy by Market - Open Buy Bitcoin Crypto Currency Trade

To Buy at prevailing bitcoin price and open a new bitcoin btcusd cryptocurrency order select and choose the Buy by Market btcusd crypto order button

To Sell at prevailing btcusd crypto price and open a new bitcoin crypto order choose the Sell by Market bitcoin order button

After you open the new trade positions use the SL Window Above to Set the SL order for the New Order

You also can get this panel so that to modify an open buy or sell bitcoin crypto trade - To find and get this order panel window for a buy btcusd crypto trade, right-click on opened buy or sell btcusd crypto trade, then after that you click 'Modify Order' after you click on modify order button key the above order settings button key will pop-up & appear & you as a trader can set StopLoss Order using the tutorial described above.

Set SL Order on MetaTrader 5 Platform Software?

Study More Lessons & Topics:

Trade Bitcoin Trading

Trading Bitcoin Set SL Order in the MT5 Platform

How Do You Trade Bitcoin and Place SL Order in MT5 Platform Software?

Set SL Setting When Opening New Order in the Tools Menu in MetaTrader 5 Software Platform