How to Set Stop Loss on MT4 Android App - Set Stop Loss MT4 Android App
How to Place SL Order in MT4 Android - How to Set SL on MT4 Android App
A stoploss order is an order used in forex 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 forex stop loss order will automatically close the open forex trade once the forex price gets to this stop loss order price level. Stop Loss order is used in forex money management so that to prevent further losses if a forex trade is going against the direction of the trader's open trade position.
Set Stop Loss Setting When Opening New Order in Tools Menu in MT4 Android App
To open a new forex order - buy or sell trade use tools menu within MT4 Forex Platform as shown below.
The New order button for placing a new FX trading trade transaction is illustrated below.
How to Set Stop Loss on MT4 Android App - Set Stop Loss MT4 Android - How to Set Stop Loss When Opening Forex Orders in MetaTrader 4 Android Mobile App
Once you select the new order button as illustrated above the following forex trade order pop up will appear & as a trader you will use this trade order pop up to set the Stop Loss Level for your new forex trade transaction.
This pop up includes settings for placing a new forex trade order as well as settings for setting StopLoss Level.
How to Set Forex Stop Loss Orders on MT4 Android App - Set Stop Loss Order in MT4 Android App
The Following Stop Loss Order Setting are specified for placing a new Stop Loss forex trade order:
Forex Stop Loss Order - Set Stop Loss, This option can be set after opening the trade, or for pending orders
Open the Buy or Sell Trade by Clicking the Following Buttons:
- Sell by Market - Open a Sell Trade
- Buy by Market - Open a Buy Trade
To Buy at current forex price & open a new forex order choose Buy by Market forex order button
To Sell at current forex price & open a new forex order choose Sell by Market forex order button
After opening the new forex trades use the Stop Loss Window Above to Set The Stop Loss order for the New Forex Order
You can also get this window so that to modify an already open buy or sell trade - To get this order window for a buy trade, right click in opened buy or sell trade, then after that you click on 'Modify Order' after you click modify order button the above trading order settings button key will popup & you can set Stop Loss Order using the procedure explained above.
