How Do You Set a StopLoss on MetaTrader 5 Android App?

How Do I Set a StopLoss on MetaTrader 5 Android App?

Trading Place SL Order in MetaTrader 5 Android App

A stop loss is an order used in gold trading to close an open trade position if the Gold trade position moves against the Gold trader's position by a certain number of pips.

Once stop loss order is set at a specific level, this stop-loss will mechanically close-out the open trade position once the price reaches this stop loss price level. Stop-Loss order is used in money management so as to stop further losses if a trade is moving and going against the direction of the Gold trader's open trade transaction.

Set Stop Loss Order Setting When Opening New Order on Tools Menu on MT5 Android App

To open new trade order - buy/sell trade position use tools window menu within MT5 Software Platform as illustrated below.

The New Order button key for opening a new trade is pictured below.

Set a Stop-Loss Order on MetaTrader 5 Android App - Set a StopLoss in MetaTrader 5 Android Phone App?

Once you select the new order button option as shown above following trade order pop up window will popup & as a trader you'll then use this order pop up panel window to set the StopLoss Area for your new trade.

This pop-up includes the settings for placing and opening a new order & also the settings and parameters for setting StopLoss Order Level.

Set a Stop-Loss Order in MetaTrader 5 Android Phone App?

Following StopLoss Parameter Settings are specified for setting a new Stop Loss Order:

Stop Loss - Set Stop Loss Order, This option can also be set after opening a 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 price & open a new order select the Buy by Market order button option

To Sell at current price & open a new order select the Sell by Market order button option

After you open the new trades use the Stop Loss Panel Window Above to Set The Stop Loss for the New Order

You also can get this panel in order and so as to modify an already open buy or sell trade - To get this trade order window for a buy or sell trade position, right click on opened buy or sell trade position, then after that click 'Modify Order' button after you press the modify order button option & the above order settings button will appear and you then can set the StopLoss using the method described above.

Set a Stop-Loss Order in MetaTrader 5 Android Mobile Trading App

More Tutorials & Courses:

Trade Gold Trading

How Do You Set a StopLoss on MetaTrader 5 Android App?

How Do I Set a StopLoss on MetaTrader 5 Android App?

Trading Place SL Order in MetaTrader 5 Android App

Set Stop Loss Order Setting When Opening New Order on Tools Menu on MT5 Android App