Trading CFD Set SL CFD Order on MT4 Platform
How Do You Set SL CFD Trading Order on MT4 Platform?
A SL order is an order used in cfd to close an open trade if the trade moves against the trader's position by a certain number of pips.
Once the Stop-Loss order is set at a specified level, this SL order will automatically close-out the open trade once the chart gets to this SL order cfd price level. SL order is used in cfd trading money management so as to prevent further losses if a trade is going against direction of the trader's open trade position.
Set SL Setting When Opening New CFDs Order on Tools Menu in MetaTrader 4
To open a new cfd order to buy or sell a trade use the tools menu found in MT4 CFD Trading Platform as shown below.
The New cfd order button key for placing a new cfds trade is displayed and illustrated below. (MT4 Short Cut Keyboard Keys "F9")
CFD Trading Set SL CFD Trading Order on MetaTrader 4 Software - Set SL CFD Order on MetaTrader 4 Software?
Once you select the new cfd order button as illustrated above the following cfd trade order popup window will appear & as a trader you'll use this trade order popup window to set the Stop-Loss Level for your new cfd trade.
This pop up includes settings for placing a new cfd trade order as well as settings for setting SL Level.
How Do You Set SL CFD Order on MetaTrader 4 Software?
The Following SL Order Settings are specified for setting up a new Stop-Loss cfd order:
SL - Set SL, This option can also be set after opening the trade, or for pending cfd orders
Open the Buy or Sell CFD Trade by Clicking the Following MT4 Buttons:
- Sell by Market - Open a Sell CFD Trade
- Buy by Market - Open a Buy CFD Trade
To Buy at current cfd price and open new cfd order choose Buy by Market cfd order button
To Sell at current cfd price and open new cfd order select Sell by Market cfd order button
After opening the new cfds trades use SL Panel Above to Set SL order for the New CFD Trading Order
You can also get this window so as to modify an already open buy or sell cfd trade - To find this order window for a buy cfd trade, right click on opened buy or sell cfd trade, then after that you click on "Modify Order" after you click the modify order button the above order settings button will appear & you can set the SL Order using the step by step procedure explained above.
Set SL CFD Order in MetaTrader 4 (MT4)
