What is a Stop Loss Cryptocurrency Order in MT4?
What is a Set Stop Loss Bitcoin Order on MetaTrader 4?
A stop loss bitcoin 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 stop loss cryptocurrency trading order is set at a specified level, this stop loss cryptocurrency order will automatically close the open trade once the price chart gets to this stoploss cryptocurrency order bitcoin price level. Stop-loss order is used in bitcoin trading money management so that to prevent further losses if a trade is going against the direction of the trader's open trade position.
Set Stop Loss Bitcoin Order Setting When Opening New Order in Tools Menu on MetaTrader 4
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 btcusd trade is displayed & illustrated below. (Short Cut Keyboard Keys "F9")
How to Set Stop Loss Crypto Order 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 panel will pop-up & as a trader you can use this trade order popup window panel to set the StopLoss Bitcoin Order Level for your new bitcoin trade.
This popup includes the settings for placing a new bitcoin trade order as well as settings for setting StopLoss Bitcoin Order Level.
Set Stop Loss Bitcoin Order on MetaTrader 4
Following Stop Loss Bitcoin Order Settings are specified for placing a new Stop Loss Bitcoin Order:
Stop Loss Cryptocurrency Order - Set Stop Loss Bitcoin Order, This option can be set after opening trade, or for 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 select the Buy by Market crypto order button
To Sell at current bitcoin price & open a new cryptocurrency order select the Sell by Market crypto order button
After you open the new cryptocurrency trades use the Stop Loss Bitcoin Order Window Above to Set The Stop Loss Bitcoin Order for the New Bitcoin Order
You can also get this window panel so that to modify an already open buy or sell bitcoin trade - To find & get this order window panel for a buy bitcoin trade, right-click on the 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 Bitcoin Order using the procedure described above.
