Definition Stop Loss Indices Orders on MT4 Explained with Examples
What's a Set Stop Loss Indices Order on MT4?
A stoploss 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 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 trading price level. Stop Loss order is used in indices trading money management so that to prevent further losses if a trade is going against the direction of the trader's open trade position.
Set Stop Loss Indices Order Setting When Opening New Order on Tools Menu on MetaTrader 4
To open a new stock index order to buy or sell a trade use the tools popup menu within the MT4 Indices Trading Platform as shown below.
The New order button for placing a new index trade is displayed below. (Short-Cut Key-board Keys 'F9')
How to Set Stop Loss Indices Order When Opening Indices Orders in MT4
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 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.
Set Stop Loss Indices Order in MetaTrader 4
Following Stop Loss Indices Order Setting 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 trade, or for pending indices orders
Open the Buy or Sell Trade by Clicking the Following Button Keys:
- Sell by Market - Open a Sell Trade
- Buy by Market - Open a Buy Trade
To Buy at current stock indices price & open a new stock indices order select Buy by Market indices order button
To Sell at current stock indices price & open a new stock 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 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.
