How to Place Stop Loss in MetaTrader 5
How to Add & Modify Stop Loss Orders on MetaTrader 5
XAUUSD stoploss orders are orders used to automatically close open trades on the MT5 platform. Stoploss orders are used by traders to help cap losses and close open transactions once these trade transactions move contrary the traders' position by a particular number of pips.
Stop Loss orders can be set when executing new trade transactions & stoploss orders also can be set for already opened trades.
How to Place Stop Losses When Opening New Trades
- Open a chart for the instrument you want to trade
- Right Click on the Chart
- Choose New Order button
- Select the Set Stop Loss Option within this New Order window
- Specify your Stop Loss level for the trade that you as the trader want to open
- Choose buy/sell to open a trade position
For a buy trade the stoploss order is set below the price quote you as a trader want to buy at & for a sell trade the stoploss order is set above the price quote you as a trader want to sell at.
How to Place Stop Losses for Open Trades
Select trade you want to modify from MT5 trade transactions window panel
- Right click trade order & select Modify Order
- Choose SL Field
- Specify the StopLoss level for the trade
- Press the Modify Order Button
How Do I Set Stop Loss in MT5
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