Definition Stop Loss CFDs Orders on MetaTrader 4 Explained with Examples
What is a Set Stop Loss CFDs Order on MetaTrader 4?
A stoploss 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 stop-loss order will automatically close the open trade once the chart gets to this stop-loss order cfd price level. Stop Loss order is used in cfd money management so as to prevent further losses if a trade is going against direction of the trader's open trade position.
Set Stop Loss CFD Order Setting When Opening New 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 Platform as shown below.
The New order button for placing a new trade transaction is shown below. (Short-Cut Key board Keys "F9")
How to Set Stop Loss CFD Order When Opening CFDs Orders on MetaTrader 4
Once you select the new order button key as illustrated above the following cfd trade order pop up window will appear & as a trader you'll use this trade order pop up panel to set the Stop Loss CFD Order Level for your new cfd trade.
This pop up includes settings for placing a new cfd trade order as well as settings for setting Stop Loss CFD Order Level.
How to Set Stop Loss CFDs Orders on MT4 Platform - Set Stop Loss CFDs Order on MetaTrader 4
The Following Stop Loss CFD Order Setting are specified for placing a new Stop Loss CFD Order:
Stop Loss CFDs Order - Set Stop Loss CFD Order, This option can be set after opening trade, or for pending cfd orders
Open the Buy or Sell Trade by Clicking on the Following Buttons:
- Sell by Market - Open a Sell Trade
- Buy by Market - Open a Buy 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 the Stop Loss CFD Order Window Above to Set The Stop Loss CFD Order for the New CFDs 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 modify order button key the above trading order settings button key will popup and you can set Stop Loss CFD Order using the step by step procedure explained above.
