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

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

Trading XAUUSD Place SL Order on MetaTrader 5 iPhone App

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

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

Set Stop Loss Setting When Opening New Order in Tools Menu in MT5 iPhone App

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

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

Set a StopLoss on MetaTrader 5 iPhone App - Set a StopLoss in MT5 iPhone App?

Once you choose the new order button as shown above following trade order pop up window will pop-up & as a trader you will then use this order pop up panel to set the StopLoss Level for your new transaction.

This popup includes the settings for placing a new order as well as the settings for placing Stop Loss Level.

Set a StopLoss in MT5 iPhone Mobile App - Set a StopLoss on MT5 iPhone App?

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

Stop Loss Order - Set Stop Loss, This option can be set after placing the 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 & open a new order choose the Buy by Market order button

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

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

You can also get this panel in order to modify an open buy/sell trade position - To get this order window panel for a buy or sell trade, right click on opened buy or sell trade position, then after that click 'Modify Order' button after you press the modify order button 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 App

More Lessons & Courses:

Trade Gold Trading

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

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

Trading XAUUSD Place SL Order on MetaTrader 5 iPhone App

Set Stop Loss Setting When Opening New Order in Tools Menu in MT5 iPhone App