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