Definition Stop Loss Indices Orders on MT4 Explained with Examples

What is a Set Stop Loss Indices Order on MT4

A stop loss indices order is an order used in indices trading to close an open trade if the trade moves against the indices trader's position by a certain 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 chart gets to this stop loss stock indices order stock indices price level. Stop loss order is used in indices trading money management so as to prevent further losses if a trade position is going against the direction of the indices trader's open trade position.

Set Stop Loss Indices Order Setting When Opening New Order on Tools Menu in MT4

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

The New order button for placing a new indices trade transaction is shown below. (Short Cut Keyboard Keys "F9")

How to Set Stop Loss Indices Order When Opening Indices Orders on MT4

Once you select the new order button as illustrated above the following indices trade order popup window will appear and as a indices trader you can use this trade order popup window to set the Stop Loss Indices Order Level for your new indices trade.

This popup includes the settings for placing a new indices trade order as well as settings for setting Stop Loss Indices Order Level.

Set Stop Loss Indices Order on MT4

The Following Stop Loss Indices Order Settings are specified for placing a new Stop Loss 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 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 the Buy by Market indices order button

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

After opening the new stock indices trades use the Stop Loss Indices Order Window Above to Set The Stop Loss Indices Order for the New Indices Order

You can also get this window so as to modify an already open buy or sell indices trade - To get this order window for a buy indices trade, right click on the opened buy or sell indices trade, then after that click "Modify Order" after you click the modify order button the above order settings button will appear and you can set the Stop Loss Indices Order using the procedure explained above.