How to Set Stop Loss Stock Order in MetaTrader 4 Platform
How to Add & Modify Stock Stop Loss Orders on MetaTrader 4 Software
Stock stop loss orders are stock orders used to automatically close open stock trades in MetaTrader 4 platform. Stock stop loss orders are used by stock traders to help reduce stock losses & close open stock trades once these stock trades moves against the traders' position by a specified number of stock pips.
Stop-Loss orders can be set when opening new stock trades & stop loss orders can also be set for already opened stock trades.
How to Set Stocks Stop Loss Orders When Opening New Stock Trades
- Open a Stock chart for the stock instrument you want to trade
- Right Click on the Stock Chart
- Select New Order button
- Choose the Set Stop-Loss Option within this New Order stocks trading window
- Specify your Stop Loss level for the stock trade that you want to open
- Choose buy or sell to open a stocks trade
For a buy stock trade the stock stop loss order is set below the stock price quote you want to buy at and for a sell stock trade the stock stop loss order is set above the stock price quote you want to sell at.
How to Set Stocks Stop Loss Orders for Open Stock Trades
Select stock trade you want to modify from the MT4 stock trade transactions window
- Right click on the stock trade order and select Modify Order
- Select Stop Loss Field
- Specify the Stop Loss level for the stocks trade
- Click the Modify Order Button Key
How to Set Stop Loss Stock Order in MT4 Platform
