How Do I Set a Stop Loss Order in MT5 iPhone App?
How Do You Set a Stop Loss Order on MT5 iPhone Mobile Phone App?
How Do You Set SL on MT5 iPhone 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 equity management so that to prevent further losses if a trade is moving against the direction of the trader's open trade position.
Set Stop Loss When Opening New Order in Tools Menu in MT5 iPhone App
To open a new trade order - buy/sell trade use the tools panel menu within the MT5 Forex Platform as shown below.
The New order button for opening a new trade is shown below.
How Do I Set a Stop Loss in MT5 iPhone App?
Once you select the new order button as illustrated above the following trade order popup will appear & as a trader you will use this order popup to set the Stop Loss Level for your new trade.
This popup includes the settings for placing a new trade order as well as the settings for setting Stop-Loss Zone.
How Do I Set a Stop Loss Order on MT5 iPhone Trading Mobile App?
The Following Stop Loss Order Setting are specified for placing a new Stop Loss order:
FX StopLoss Order - 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 trade order select Buy by Market fx order button
To Sell at prevailing price and open a new trade order choose Sell by Market fx order button
After opening the new trades use the Stop-Loss Window Above to Set The Stop Loss order for the New Order
You can also get this panel so as to modify an already open buy or sell trade - To find this order panel for a buy trade, right-click in 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 Order using the guide explained above.
How Do I Set a Stop Loss Order in MT5 iPhone Mobile App?
