How Do I Set a Stop Loss in MT5 Android Mobile Phone App?

How Do You Place and Set a Stop Loss on MT5 Android Mobile Phone App?

How Do I Set SL in MT5 Android App?

A stop loss is an order used on fx trading to close an open trade if the trade transaction transaction moves against the trader's trade position by a specified number of pips.

Once the stop loss order is set at a specified level, this stoploss order will mechanically close the open trade once the price reaches this stop loss order price level. Stop Loss order is used in money management so as to prevent further losses if a trade is going against the direction of the trader's open trade.

Stop Loss Setting When Opening New Order in the Tools Menu on MetaTrader 5 Android App

To open a new order - buy/sell trade use the tools window menu within the MT5 FX Trade Platform as shown below.

The New Order button key for opening new trade position is shown below.

How Do I Set a Trading Stop Loss in MT5 Android Mobile Phone Trading App?

Once you choose the new order button as shown above the following trade order pop-up will appear & as a trader you will use this order popup to set the StopLoss Level for your new position.

This pop up window panel includes settings for placing a new order as well as settings for setting Stop Loss Zone.

How Do I Set a Stop Loss in MT5 Android Phone App?

Following Stop Loss Parameters are specified for setting a new Stop Loss Order order:

Forex StopLoss - Set Stop Loss, This one can be set/put after opening the trade transaction, 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 positions use the SL Panel Above to Set The StopLoss order for the New Order

You also can get this panel so as to modify an already open buy/sell trade position - To get this order panel for a buy or sell trade, rightclick in the opened buy or sell trade position, 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 as a trader can then set Stop Loss using the tutorial explained above.

How Do I Set and Place a Stop Loss on MT5 Android Trading Mobile App?

Study More Lessons and Tutorials & Courses:

Trade Forex Trading

How Do I Set a Stop Loss in MT5 Android Mobile Phone App?

How Do You Place and Set a Stop Loss on MT5 Android Mobile Phone App?

How Do I Set SL in MT5 Android App?

Stop Loss Setting When Opening New Order in the Tools Menu on MetaTrader 5 Android App