How Do I Set a Stop Loss Order in MetaTrader 5 Android Mobile Phone App?
How Do You Set a Stop Loss Order in MetaTrader 5 Android Mobile Phone App?
How Do You Set SL in MetaTrader 5 Android App?
A stoploss order is an order used in fx trading to close an open trade if the trade moves against the trader's position by a certain number of pips.
Once the stop loss order is set at a specified level, this stop loss order will automatically close the open trade once the price reaches this stop-loss price level. Stop Loss order is used in money management so that to prevent further losses if a trade is going against the direction of the trader's open trade position.
Stop Loss Setting When Opening New Order in Tools Menu on MT5 Android App
To open a new order - buy/sell trade use the tools window menu within the MT5 FX Trading Platform as shown below.
The New order button key for opening new trade transaction is illustrated below.
How Do I Set a Trading Stop Loss in MT5 Android App?
Once you select the new order button as shown above the following trade order popup will appear and as a trader you will use this order popup to set the Stop Loss Level for your new trade.
This pop up includes settings for placing new order as well as settings for setting Stop-Loss Zone.
How Do I Set a Stop Loss Order in MetaTrader 5 Android Phone App?
The Following Stop Loss Setting are specified for placing a new Stop Loss trading order:
Forex StopLoss - Set Stop Loss, This option can be set after opening the trade, or for pending orders
Open Buy or Sell Trade by Clicking the Following Button Keys:
- Sell by Market - Open a Sell Trade
- Buy by Market - Open a Buy Trade
To Buy at prevailing price & open a new order select Buy by Market order button
To Sell at prevailing price and open a new order choose Sell by Market order button
After opening the new trade transactions use the Stop-Loss Window Above to Set The Stop Loss order for the New Order
You also can get this window so that to modify an already open buy or sell trade - To get this order panel for a buy trade, right click on the opened buy or sell trade, then after that you click on the 'Modify Order' after you click on the modify order button the above trading order settings button will popup & you can then set Stop Loss using the guide explained above.
How Do I Set a Stop Loss Order in MetaTrader 5 Android Trading Mobile App?
