How Do I Use Indices Stop Loss Order on MetaTrader 4?
How Do I Trade Indices and Use Stop Loss Indices Order on MT4?
A stoploss order is an order used in indices trading to close an open index trade if the trade moves against the trader's open trade by a certain number of specified pips.
Once the stop loss stock indices order is set at a particular level, this stop-loss stock indices order will automatically close the open trade once the price chart gets to this stoploss stock indices order stock indices price level. Stop Loss 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 Stop Loss Indices Order 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 pop up menu within the MT4 Platform as shown below.
The New indices order button key for placing a new index trade is displayed and illustrated & shown below. (MT4 Short-Cut Key-board Keys 'F9')
How Do You Use Indices Stop Loss Order in MetaTrader 4?
Once you select the new indices order button as illustrated above following indices trade order window popup will appear & you as the trader can use this trade order 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 MetaTrader 4?
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 trade, or for 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 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 key after you click on modify order button the above trading order settings button will popup and appear and you can set Stop Loss Indices Order using the procedure explained above.
How Do You Use Indices Stop Loss Order in MetaTrader 4
