How to Set Stop Loss XAUUSD Order on MT4 Platform
How to Add & Modify Gold Stop Loss Orders on MetaTrader 4
Gold stop loss orders are gold orders used to automatically close open gold trades in MT4 platform. Gold stop loss orders are used by traders to help reduce gold losses & close open gold trades once these gold trades moves against the traders' position by a specified number of gold pips.
StopLoss orders can be set when opening new gold trades & stop loss orders can also be set for already opened gold trades.
How to Set Gold Stop Loss Orders When Opening New XAUUSD Trades
- Open a Gold trading chart for the gold instrument you want to trade
- Right Click on the Gold Chart
- Select New Order button
- Choose the Set StopLoss Option within this New Order gold trading window
- Specify your Stop Loss level for the gold trade that you want to open
- Select buy or sell to open a xauusd trade
For a buy gold trade the gold stop loss order is set below the gold price quote you want to buy at and for a sell gold trade the gold stop loss order is set above the gold price quote you want to sell at.
How to Set Gold Stop Loss Orders for Open XAUUSD Trades
Select gold trade you want to modify from the MT4 gold trade transactions window
- Right click on the gold trade order and select Modify Order
- Select Stop Loss Field
- Specify the Stop Loss level for the xauusd trade
- Click the Modify Order Button Key
How to Set Stop Loss Gold Order in MetaTrader 4 Platform
