How Do I Use Indices Stop Loss Order on MetaTrader 5?
How Do I Trade Indices and Use Stop Loss Indices Order on MetaTrader 5?
A indices stop-loss trading 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 the indices stop loss trading order is set at a specified level, this indices stop-loss order will automatically close-out the open trade once the chart gets to this indices stop loss trading order stock indices price level. Stop Loss order is used in index money management so as to prevent more losses if an open trade starts going against the direction of the trader's open trade.
Set Stop Loss Indices Order 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 panel menu within the MT5 Platform as shown below.
The New indices order button for placing a new indices trade is illustrated below. (MT5 Short Cut Key board Keys "F9")
How Do You Use Indices Stop Loss Order in MT5?
Once you select the new indices order button as illustrated above following indices trade order window panel pop-up will appear & you as a trader can use this trade order window panel popup to set the Stop Loss Indices Order 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 Stop Loss Indices Order Level.
How Do You Trade Indices and Use Stop Loss Indices Order in MT5?
Following Stop Loss Indices Order Setting are specified for placing a new Stop Loss Stock Indices Order:
Stop Loss Stock Indices Order - Set Stop Loss Indices Order, This option can be set after opening the trade, or for pending indices orders
Open the Buy or Sell Indices Trade by Clicking the Following Button Keys:
- 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 the Stop Loss Indices Order Window Panel Above to Set The Stop Loss Indices 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 after you click on modify order button the above trading order settings button will pop up and appear and you can set Stop Loss Indices Order using the procedure described above.
How Do You Use Indices Stop Loss Order in MT5
