Indices Trading Set SL Stock Indices Order on MT4
How Do I Trade Indices and Set SL Stock Indices Order on MT4?
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 particular level, this StopLoss order will automatically close out the open trade once the trading chart gets to this Stop-Loss order stock indices price level. SL 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 SL Setting When Opening New Stock Indices Order on Tools Menu on MetaTrader 4
To open a new index order to buy or sell a trade use the tools panel menu within the MT4 Platform as shown below.
The New indices order button for placing a new index trade is illustrated below. (MT4 ShortCut Key board Keys "F9")
Indices Trading Set SL Stock Indices Order on MT4?
Once you select the new indices order button as illustrated above following indices trade order window pop up will appear & you as a trader can use this trade order window pop up 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 SL Level.
How to Set Indices Trading Stop Loss on MT4 - How Do I Trade Indices and Set SL Stock Indices Order on MT4?
Following SL Order Settings are specified for setting up and placing a new SL indices trading 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 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 SL Window Panel Above to Set SL 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 popup and appear & you can set Stop Loss Order using the procedure explained above.
How to Set Indices Stop Loss Order in MetaTrader 4
