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