How Do I Use StopLoss on MT4?

How Do I Use TP Orders and Use Stop-Loss Order on MT4?

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

Once stop loss order is set at a specific level, this stop loss order will automatically close out the open trade once the chart reaches this stop loss order price level. StopLoss order is used in gold equity 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 Setting When Opening New Order in Tools Menu in MT4

To open new trade order to buy/sell a trade position use tools window menu within MetaTrader 4 Platform as shown below.

New order button for placing a new trade is highlighted below. (MT4 key-board Short Cut Keys 'F9')

How Do You Use StopLoss on MT4? - How Do I Use Gold Stop Loss Order on MT4?

Once you select the new trade order button as displayed above following trade order popup panel window will pop-up and as a trader you will then use this order popup panel window to set the StopLoss Zone for your new trade transaction.

This popup panel includes settings for placing new trade order as well as options for placing Stop Loss Level.

Interpret and Use TP Orders and Use Stop-Loss Order on MT4?

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

Stop Loss - Set Stop Loss Order, This option can be set after placing the trade, or for pending orders

Open 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 new order select the Buy by Market order button

To Sell at current price and open new order choose the Sell by Market order button

After you open the new trade transactions use the StopLoss Panel Window Above to Set The StopLoss for the New Order

You also can get this window in order to modify an open buy/sell trade position - To find this order panel for buy or sell trade, rightclick on opened buy/sell trade position, then after that click 'Modify Order' button after you click modify order button the above order settings button will appear & you can then set the StopLoss using the method explained above.

How Do You Use Gold Stop Loss Order on MT4

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Trade Gold Trading

How Do I Use StopLoss on MT4?

How Do I Use TP Orders and Use Stop-Loss Order on MT4?

Set Stop Loss Setting When Opening New Order in Tools Menu in MT4