XAUUSD Trading Set SL Gold Order in MetaTrader 4 Software
Trading XAUUSD Set SL XAUUSD Order on MT4
A SL order is an order used in xauusd to close an open trade if the trade moves against the trader's position by a certain number of pips.
Once Stop-Loss order is set at a specified level, this SL order will automatically close-out the open trade once the chart gets to this SL order gold price level. SL order is used in xauusd money management so as to prevent further losses if a trade is going against direction of the trader's open trade position.
Set SL Setting When Opening New Gold Order on Tools Menu in MetaTrader 4
To open a new xauusd order to buy or sell a trade use the tools menu that is found in the MT4 XAUUSD Trading Platform as shown below.
The New xauusd order button for placing a new trade transaction is illustrated below. (MT4 ShortCut Key board Keys "F9")
Gold Trading Set SL XAUUSD Order on MT4 Platform
Once you select the new xauusd order button as illustrated above the following xauusd trade order popup window will appear and you as a trader can use this trade order popup window to set the Stop-Loss Level for your new gold trade.
This pop-up includes settings for placing a new xauusd trade order as well as settings for setting Stop-Loss Level.
Set SL XAUUSD Order in MetaTrader 4?
The Following Stop Loss Order Settings are specified for setting a new SL gold trading order:
SL - Set SL, This option can be set after opening the trade, or for pending xauusd orders
Open the Buy or Sell XAUUSD Trade by Clicking the Following MT4 Buttons:
- Sell by Market - Open a Sell XAUUSD Trade
- Buy by Market - Open a Buy XAUUSD Trade
To Buy at current gold price & open new xauusd order choose the Buy by Market xauusd order button
To Sell at current gold price & open new xauusd order choose the Sell by Market xauusd order button
After opening the new gold trades use SL Panel Above to Set SL order for the New XAUUSD Order
You can also get this window so as to modify an already open buy or sell xauusd trade - To find & get this order window panel for a buy xauusd trade, right click on the opened buy or sell xauusd trade, then after that click on the "Modify Order" after you click on the modify order button key the above order settings button key will appear and you as a trader can use set the SL Order using the step by step procedure explained above.
Analyze & Set SL XAUUSD Order in MT4 (MT4)
