What is a Stop Loss Commodities Order on MetaTrader 4 Platform?
What is a Set Stop Loss Commodity Trading Order on MT4?
A stoploss 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 stop-loss order is set at a specific level, this stop-loss order will automatically close-out the open trade once the chart gets to this stop-loss order commodity price level. Stop Loss order is used in commodity trading money management so that to prevent further losses if a trade position is going against the direction of the trader's open trade position.
Set Stop Loss Commodity Order Setting When Opening New Order on Tools Menu on MT4
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 order button for placing a new commodities trade is displayed & illustrated below. (ShortCut 'F9')
How to Set Stop Loss Commodity Trading Order When Opening Commodity Orders on MetaTrader 4
Once you've selected the new order button key as illustrated above the following commodity trade order window panel pop up will appear and you as a trader can use this trade order panel pop up to set the Stop Loss 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 Stop Loss Commodity Trading Order Level.
Set Stop Loss Commodity Order on MT4
The Following Stop Loss Commodity 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 Trade by Clicking the Following Buttons:
- Sell by Market - Open a Sell Trade
- Buy by Market - Open a Buy Trade
To Buy at current commodity price & open new commodity order choose 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 Order Window Panel Above to Set the Stop Loss Commodity Trading Order for the New Commodity Trading Order
You can also get this window panel 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 opened buy or sell commodity trade, then after that you click 'Modify Order' button after you click on modify order button key the above trading order settings button key will popup and appear and you can set Stop Loss Commodity Order using procedure explained above.
