How Do I Set SL Gold Order on MT5 Software?
How Do I Set SL XAUUSD Order on MT5 Platform?
A SL order is an order used in gold trading to close an open trade if the trade moves against the trader's position by a certain number of pips.
Once SL order is set at a specific level, this SL order will automatically close the open trade once the chart gets to this SL order xauusd price level. SL order is used in gold money management so as to prevent more losses if an open trade starts going against direction of the trader's open trade position.
Set SL Setting When Opening New XAUUSD Order in Tools Menu on MetaTrader 5
To open a new gold order to buy or sell a trade use the tools panel menu within the MT5 Platform as shown below.
The New gold order button key for placing a new gold trade is displayed below. (MetaTrader 5 Key board ShortCut Keys 'F9')
Set SL XAUUSD Order in MT5 - Set SL XAUUSD Order in MT5?
Once you select the new gold order button as illustrated and illustrated above following gold trade order pop-up window will appear and as a trader you will then use this trade order pop-up window to set the SL Level for your new xauusd trade.
This pop up includes the settings for placing a new xauusd trade order as well as settings for setting StopLoss Level.
Interpret and Set SL XAUUSD Order on MetaTrader 5? - How Do I Trade Gold and Set SL XAUUSD Order in MT5?
The Following Stop Loss Order Settings are specified for placing and setting a new Stop-Loss xauusd trading order:
SL - Set SL, This option can be set after opening the trade, or for the pending gold orders
Open the Buy or Sell Gold Trade by Clicking the Following Button Keys:
- Sell by Market - Open a Sell Gold Trade
- Buy by Market - Open a Buy Gold Trade
To Buy at current xauusd price & open a new gold order select the Buy by Market gold order button
To Sell at current xauusd price & open a new gold order select the Sell by Market gold order button
After you open the new xauusd trades use Stop-Loss Panel Above to Set The Stop-Loss order for the New XAUUSD Order
You can also get this panel in order to modify an already open buy or sell gold trade - To find this order window for a buy gold trade, right-click on opened buy or sell gold trade, then after that click 'Modify Order' button key after you click the modify order button key the above order settings button will appear & you as a trader can use then set the SL Order using the procedure explained above.
Set SL XAUUSD Order in MT5
