Definition Stop Loss Orders on MT4 Explained with Examples

What's a Set Stop Loss Order in Meta Trader 4?

A stop-loss order is an order used in indices to close an open trade if the trade moves against the trader's position by a specified number of 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 indices money management so that to prevent further losses if a trade is going against the direction of the trader's open trade transaction.

Set Stop Loss Order Setting When Opening New Order on Tools Menu on MetaTrader 4

To open a new order to buy or sell a trade use the tools popup menu within the MT4 Platform as shown below.

The New order button for placing a new trade is displayed below. (Short-Cut Key-board Keys 'F9')

How to Put Stop Loss Order When Opening Orders on Meta Trader 4

Once you have selected new 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 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 Order Level.

Set Stop Loss Order on Meta Trader 4

Following Stop Loss Order Setting are specified for placing a new Stop Loss Order:

Stop Loss Order - Set Stop Loss Order, This option can be set after opening trade, or for pending indices orders

Open the Buy or Sell Trade by Clicking the Following Buttons:

1. Sell by Market - Open a Sell Trade
2. Buy by Market - Open a Buy Trade

To Buy at current stock indices price and open a new stock indices order select Buy by Market order button

To Sell at current stock indices price and open a new stock indices order choose Sell by Market order button

After opening the new stock indices trades use the Stop Loss Order Window Panel Above to Set The Stop Loss Order for the New 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 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 order settings button will popup and appear and you can set Stop Loss Order using the procedure explained above.