CFDs Trading Set SL CFDs Order on MetaTrader 5 Software
Trading CFD Set SL CFD Order in MetaTrader 5 CFD
A SL order is an order used in cfd to close an open trade if the trade moves against trader's position by a certain number of pips.
Once the SL order is placed at a specified level, this stop-loss order will automatically close the open trade once the chart gets to this SL order cfds price level. SL order is used in cfd money management so as to prevent further losses if a trade position is going against direction of the trader's open trade position.
Set SL Setting When Opening New CFD Trade Order on Tools Menu in MT5 Platform
To open a new cfd order to buy or sell a trade use the tools menu that is found in the MetaTrader 5 CFD Trading Platform as shown below.
The New cfd order button for placing a new trade transaction is shown below. (MT5 Short Cut Keyboard Keys "F9")
CFD Trading Set SL CFD Order in MT5 Platform
Once you select the new cfd order button key as illustrated above the following cfd trade order popup window will appear and you as a trader can use this trade order popup window to set the SL Level for your new cfds trade.
This pop-up includes the settings for placing a new cfds trade order as well as settings for setting Stop-Loss Level.
Set SL CFD Trading Order on CFD MT5 Trading Platform?
Following SL Order Settings are specified for setting a new SL cfds trading order:
SL - Set SL, This option can be set after opening the trade, or for pending cfd orders
Open the Buy or Sell CFD Trade by Clicking on the Following Buttons:
- Sell by Market - Open a Sell CFD Trade
- Buy by Market - Open a Buy CFD Trade
To Buy at current cfds price & open new cfd order choose Buy by Market cfd order button
To Sell at current cfds price & open new cfd order select Sell by Market cfd order button
After opening the new cfds trades use the SL Window Above to Set The SL order for New CFD Trading Order
You can also get this window panel so as to modify an already open buy or sell cfd trade - To find & get this order window panel for a buy cfd trade, right click in the opened buy or sell cfd trade, then after that click on "Modify Order" after you click on modify order button key the above order settings button key will appear and you as a trader can use set the SL Order using the step by step procedure explained above.
Analyze & Set SL CFD Order in MetaTrader 5 Platform
