Trading Bitcoin Set SL Cryptocurrency Order on MetaTrader 5
How Do I Trade Bitcoin and Set SL Cryptocurrency Order on MetaTrader 5?
A SL order is an order used in bitcoin trading to close an open trade if the trade moves against the trader's position by a certain number of pips.
Once the SL order is set at a specific level, this SL order will automatically close-out the open trade once the chart gets to this SL order bitcoin price level. SL order is used in btcusd trading money management so that to prevent further losses if a trade position is going against the direction of the trader's open trade position.
Set SL Setting When Opening New Cryptocurrency Order in Tools Menu on MetaTrader 5
To open a new btcusd order to buy or sell a trade use tools menu within the MT5 Platform as shown below.
The New bitcoin order button for placing a new btcusd trade is shown below. (MT5 Short Cut Keyboard Keys 'F9')
Trading Crypto Set SL Crypto Order on MetaTrader 5
Once you select the new bitcoin order button as illustrated and shown above the following bitcoin trade order window popup will appear & you as a trader can use this trade order window popup to set the SL Level for your new bitcoin trade transaction.
This pop-up includes the settings for placing a new bitcoin trade order as well as settings for setting SL Level.
Trading Crypto Interpret and Set SL Crypto Order on MetaTrader 5?
Following Stop Loss Order Settings are specified for setting up and placing a new SL bitcoin trade order:
SL - Set SL, This option can also be set up after opening the trade, or for a pending bitcoin orders
Open the Buy or Sell Bitcoin Trade by Clicking the Following Button Keys:
- Sell by Market - Open a Sell Bitcoin Trade
- Buy by Market - Open a Buy Bitcoin Trade
To Buy at current bitcoin price & open a new bitcoin order choose the Buy by Market bitcoin order button
To Sell at current bitcoin price & open a new bitcoin order choose the Sell by Market bitcoin order button
After you open the new cryptocurrency trades use the SL Window Above to Set the SL order for the New Cryptocurrency Order
You can also get this window so that to modify an already open buy or sell bitcoin trade - To find and get this order window panel for a buy bitcoin trade, right click in opened buy or sell bitcoin trade, then after that you click the 'Modify Order' after you click on modify order button key the above trading order settings button key will pop up and appear & you can set the Stop Loss Order using the procedure described above.
Analyze and Set SL Cryptocurrency Order on MetaTrader 5?
