How Do You Set a StopLoss on MetaTrader 5 iPhone Trading App?

How Do I Set a StopLoss on MetaTrader 5 iPhone Trading App?

Trading XAUUSD Place SL Order on MetaTrader 5 iPhone Trading App

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

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

Set Stop Loss Setting When Opening New Order on Tools Menu in MetaTrader 5 iPhone App

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

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

Set a StopLoss on MetaTrader 5 iPhone Trading App - Set a StopLoss in MetaTrader 5 iPhone App?

Once you choose 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 to set the StopLoss Level for your new transaction.

This pop-up includes the settings for placing and opening a new order & also the settings for placing and opening Stop Loss Level.

Set a StopLoss in MetaTrader 5 iPhone Mobile App - Set a StopLoss on MetaTrader 5 iPhone Trading App?

The Following Stop Loss Order Settings are specified for placing a new Stop Loss:

Stop Loss Order - Set Stop Loss, This one can be set/placed after opening the Gold trade, or for pending orders

Open Buy or Sell Trade by Pressing the Following Button:

Sell by Market - Open a Sell Trade
Buy by Market - Open a Buy Trade

To Buy at prevailing price and open a new order choose the Buy by Market order button option

To Sell at prevailing price and open a new order choose the Sell by Market order button option

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

You can also get this panel in order and so as to modify an open buy/sell trade position - To get this order panel 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 key will appear & you then can set the StopLoss using the method described above.

Set a StopLoss on MetaTrader 5 iPhone Trading App

More Tutorials & Courses:

Trade Gold Trading

How Do You Set a StopLoss on MetaTrader 5 iPhone Trading App?

How Do I Set a StopLoss on MetaTrader 5 iPhone Trading App?

Trading XAUUSD Place SL Order on MetaTrader 5 iPhone Trading App

Set Stop Loss Setting When Opening New Order on Tools Menu in MetaTrader 5 iPhone App