How Do I Use Trading Stop Loss Gold Order on MetaTrader 5?
How Do I Use TP XAUUSD Orders and Use Stop Loss XAUUSD Order on MetaTrader 5?
A stoploss 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 the stop-loss order is set at a particular level, this stop loss order will automatically close-out the open trade once the trading chart gets to this stop loss order xauusd price level. Stop Loss order is used in gold money management so as to prevent further losses if a trade position is going against the direction of the trader's open trade position.
Set Stop Loss XAUUSD Order 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 tools menu within MT5 Platform as shown below.
The New gold order button for placing a new gold trade is displayed below. (MetaTrader 5 Keyboard ShortCut Keys "F9")
How Do You Use Trading Stop Loss Gold Order in MT5?
Once you select the new gold order button as illustrated and illustrated above the following gold trade order popup panel will appear and as a trader you will then use this trade order popup panel to set the Stop Loss Gold Order Level for your new xauusd trade transaction.
This pop up includes the settings for placing a new gold trade order as well as settings for setting Stop Loss Gold Order Level.
Interpret and Use TP XAUUSD Orders and Use Stop Loss Gold Order in MT5?
Following Stop Loss Gold Order Setting are specified for placing a new Stop Loss Gold Order:
Stop Loss XAUUSD Order - Set Stop Loss Gold Order, This option can be set after opening the trade, or for 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 new gold order select the Buy by Market gold order button
To Sell at current xauusd price & open new gold order select the Sell by Market gold order button
After you open the new xauusd trades use the Stop Loss Gold Order Window Panel Above to Set The Stop Loss Gold 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 in the opened buy or sell gold trade, then after that click "Modify Order" button after you click the modify order button key the above order settings button key will appear and you can then set the Stop Loss Gold Order using the procedure described above.
How Do You Use Gold Stop Loss Order in MT5
