Analyze and Set SL Commodities Trading Order in MT4 Platform
How to Set Commodity Trading Stop Loss on MT4
A SL order is an order used in commodity 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 commodity price level. SL order is used in commodities trading money management so that to prevent any further losses if a trade position is going in the opposite the direction of the trader's opened trade position.
Set SL Setting When Opening New Commodities Trading Order on Tools Menu on MetaTrader 4
To open a new commodity order to buy or sell a trade use tools menu within MT4 Commodity Trading Platform as shown below.
The New commodity order button for placing a new commodities trade is displayed and illustrated below. (MT4 ShortCut "F9")
How to Set SL Commodities Trading Order in MT4 Software?
Once you select the new commodity order button key as illustrated above the following commodity trade order window pop up will appear and you as a trader can use this trade order window pop up to set the SL Level for your new commodity trade.
This pop up includes settings for placing a new commodity trade order as well as settings for setting Stop-Loss Level.
How to Set Commodity Trading Stop Loss on MT4 Platform - How Do I Trade Commodity Trading and Set SL Commodities Trading Order in MT4 Software?
Following SL Order Settings are specified for setting up and placing a new SL commodity order:
SL - Set SL, This option can also be set up after opening the trade, or for a pending commodity trading orders
Open the Buy or Sell Commodity Trade by Clicking the Following Button Keys:
- Sell by Market - Open a Sell Commodity Trade
- Buy by Market - Open a Buy Commodity Trade
To Buy at current commodity price & open new commodity order select Buy by Market commodity order button
To Sell at current commodity price & open new commodity order select Sell by Market commodity order button
After opening the new commodities trades use the SL Window Above to Set the SL order for the New Commodities Trading Order
You can also get this window so that to modify an already open buy or sell commodity trade - To find this order panel for a buy commodity trade, right-click on the opened buy or sell commodity trade, then after that you click "Modify Order" after you click on the modify order button key the above trading order settings button key will pop up and appear & you can set SL Order using the method explained above.
How to Set Commodity Trading Stop Loss in MetaTrader 4
