How Do I Use Commodity StopLoss Order in MetaTrader 4 Platform?
How Do I Trade Commodity Trading and Use Stop Loss Commodity Order on MetaTrader 4 Platform?
A stop-loss 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 stoploss order is set at a specific level, this stoploss order will automatically close-out the open trade once the chart gets to this stoploss order commodity price level. Stop-loss 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 Stop Loss Commodity Order Setting When Opening New Commodity Trading Order on Tools Menu on MT4
To open a new commodity order to buy or sell a trade use tools menu within MetaTrader 4 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 Do You Use Commodity Trading Stop Loss Order on 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 panel popup to set the StopLoss Commodity Trading Order Level for your new commodity trade.
This pop up includes settings for placing a new commodity trade order as well as settings for setting StopLoss Commodity Trading Order Level.
How Do I Trade Commodity Trading and Use Stop Loss Commodity Trading Order in MT4 Software?
Following Stop Loss Commodity Trading Order Settings are specified for setting up and placing a new Stop Loss Commodity Trading Order:
Stop Loss Commodities Order - Set Stop Loss Commodity Trading Order, 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 MetaTrader 4 Buttons:
- 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 Stop Loss Commodity Trading Order Window Above to Set the Stop Loss Commodity Trading 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 and you can set the Stop Loss Commodity Trading Order using the method explained above.
Interpret and Use TP Commodities Orders & Use Stop Loss Commodity Trading Order in MT4 Software?
