Gold Set SL Order on MT4 Software
How to Set Stop Loss Order on MT4
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 chart gets to this SL order price level. SL order is used in equity 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 in MT4
To open new trade order to buy or sell a trade use the tools menu that's found in the MT4 XAUUSD Software as illustrated below.
New order button for placing a new trade is shown below. (MetaTrader 4 Short Cut Keyboard Keys 'F9')
XAUUSD Set SL Order on MT4 - How to Set SL Order on MT4?
Once you select new order button as depicted above the following trade order pop up window will appear and you can use this trade order pop up window to set SL Level for your new trade.
This pop up includes settings for placing a new trading order as well as parameters for placing Stop-Loss Level.
How to Put Stop Loss on MetaTrader 4
The Following Stop-Loss Order Settings are specified for setting a new SL trading order:
SL - Set SL, This option can be set after opening a trade transaction, 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 & open new order select Buy by Market order button
To Sell at ruling price & open new order choose Sell by Market order button
After opening the new trade transactions use Stop-Loss Panel Above to Set StopLoss order for the New Order
You also can get this panel so as to modify an open buy or sell trade - To find & get this order panel for a buy trade, right-click the opened buy or sell trade, then after that click on 'Modify Order' after you click on 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 guide described above.
How to Put Stop Loss on MetaTrader 4
