XAUUSD Set SL Order on MT5
Trading Set SL Order in MT5 XAUUSD
A SL order is an order used in xauusd to close an open trade if the trade moves against trader's position by a specified number of pips.
Once SL order is set at a specified level, this SL order will automatically close out-outclose the open trade once the trading chart gets to this SL order price level. SL order is used in money management so as to stop further losses if a trade position is going against direction of the trader's open trade position.
Set SL Setting When Opening New Order on Tools Menu on MT5
To open a new trade order to buy/sell a trade use the tools menu that's found in the MetaTrader 5 XAUUSD Software as illustrated below.
The New order button for opening a new trade is shown below. (MT5 Short Cut Keyboard Keys 'F9')
XAUUSD Set SL Order on MetaTrader 5
Once you select the new order button key as depicted above the following trade order popup panel will appear & you as a trader can use this trade order popup panel to set the SL Level for your new trade.
This pop up includes settings for placing a new trade order as well as parameters for placing Stop Loss Level.
Set SL Order on XAUUSD MT5 Software?
The Following Stop Loss Order Settings are specified for setting a new SL gold trade order:
SL - Set SL, This option can be set after opening the trade, or for pending orders
Open Buy or Sell Trade by Clicking on the Following Buttons:
- Sell by Market - Open Sell Trade
- Buy by Market - Open Buy Trade
To Buy at ruling price and open new order select Buy by Market order button
To Sell at ruling price and open new order select Sell by Market order button
After opening the new trades use Stop Loss Panel Above to Set StopLoss order for the New Order
You also can get this panel so as to modify an already open buy or sell xauusd trade - To find & get this order panel for a buy trade, right click the opened buy or sell xauusd trade, then after that click on the 'Modify Order' after you click on the modify order button the above order settings button will appear & you as a trader can use set the SL Order using the step by step procedure described above.
Interpret & Set SL Order in MT5
