What is S L Order on MetaTrader 4?
What is a Set SL Order on MetaTrader 4?
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 trading price level. SL order is used in bitcoin 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 Order in Tools Menu on MT4
To open a new cryptocurrency order to buy or sell a trade use tools menu within the MT4 Bitcoin Trading Platform as shown below.
The New order button for placing a new trade transaction is shown below. (ShortCut Key board Keys 'F9')
What's SL on MetaTrader 4? - How to Set SL When Opening Crypto Orders on MetaTrader 4
Once you select the new order button as illustrated and shown above the following bitcoin trade order pop up window will pop-up & as a trader you can use this trade order popup window to set the SL Level for your new bitcoin trade.
This pop-up includes the settings for placing a new bitcoin trade order as well as settings for setting SL Level.
How to Set Bitcoin Trading SL Orders in MetaTrader 4 - Set SL Order on MetaTrader 4
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 Trade by Clicking the Following Buttons:
- Sell by Market - Open a Sell Trade
- Buy by Market - Open a Buy Trade
To Buy at current bitcoin price & open a new cryptocurrency order choose the Buy by Market crypto order button
To Sell at current bitcoin price & open a new cryptocurrency order choose the Sell by Market crypto order button
After you open the new cryptocurrency trades use the SL Window Above to Set the SL order for the New Bitcoin 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 SL Order using the procedure described above.
