How to Set Stop Loss on MT4 iPhone App - Set Stop Loss MetaTrader 4 iPhone App
How to Place SL Order on MetaTrader 4 iPhone - How to Set SL on MT4 iPhone 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-out 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 on MT4 iPhone 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 key for placing a new FX trade transaction is shown below.
How to Set Stop Loss on MT4 iPhone App - Set Stop Loss MetaTrader 4 iPhone - How to Set Stop Loss When Opening Forex Orders in MT4 iPhone App
Once you choose 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.
This pop up includes settings for placing a new forex trade order as well as settings for setting Stop-Loss Level.
How to Set Forex Stop Loss Orders in MetaTrader 4 iPhone App - Set Stop Loss Order in MetaTrader 4 iPhone App
The Following Stop Loss Order Setting are specified for placing a new Stop Loss forex trading 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 Button Keys:
- 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 select Buy by Market forex order button
To Sell at current forex price & open a new forex order select 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 panel 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 described above.
