How Do I Use Trading Stop Loss Gold Order on MT5?
How Do I Use TP XAUUSD Orders and Use Stop Loss XAUUSD Order in MT5 XAUUSD Trading?
A stoploss order is an order used in gold trading to close an open gold trade if the trade moves against the trader's open trade position by a certain number of pips.
Once stoploss order is set at a specific level, this stop-loss order will automatically close the open trade once the chart gets to this stop-loss order xauusd price level. Stop Loss order is used in gold money management so as to prevent more losses if an open trade starts going against direction of the trader's open trade position.
Set Stop Loss XAUUSD Order Setting When Opening New XAUUSD Order in Tools Menu on MT5
To open a new gold order to buy or sell a trade use the tools panel menu within the MT5 Platform as shown below.
The New gold order button key for placing a new gold trade is displayed below. (MetaTrader 5 Key board Short-Cut Keys 'F9')
How Do You Use Trading Stop Loss Gold Order on MT5?
Once you select the new gold order button as illustrated and illustrated above following gold trade order pop-up panel will pop-up and as a trader you will then use this trade order pop-up window panel to set the Stop Loss Gold Order Level for your new xauusd trade.
This pop up includes the settings for placing a new gold trade order as well as settings for setting Stop Loss Gold Order Level.
Interpret and Use TP XAUUSD Orders and Use Stop Loss Gold Order on MT5 Software?
The Following Stop Loss Gold Order Setting are specified for placing a new Stop Loss Gold Order:
Stop Loss XAUUSD Order - Set Stop Loss Gold Order, This option can be set after opening trade, or for pending gold orders
Open the Buy or Sell Gold Trade by Clicking the Following Button Keys:
- Sell by Market - Open a Sell Gold Trade
- Buy by Market - Open a Buy Gold Trade
To Buy at current xauusd price & open a new gold order select the Buy by Market gold order button
To Sell at current xauusd price & open a new gold order select the Sell by Market gold order button
After you open the new xauusd trades use the Stop Loss Gold Order Window Above to Set The Stop Loss Gold Order for the New XAUUSD Order
You can also get this panel in order to modify an already open buy or sell gold trade - To find this order window for a buy gold trade, right-click on opened buy or sell gold trade, then after that click 'Modify Order' button key after you click the modify order button the above trading order settings button key will appear and you can then set the Stop Loss Gold Order using the procedure explained above.
How Do You Use Gold Stop Loss Order in MT5
