How Do I Set a Stop Loss XAUUSD Order on MT5 Android App?
How Do I Set a Stop Loss XAUUSD Order on MT5 Android App?
Trading XAUUSD Place SL Order in MT5 Android App
A stop loss order is an order used in gold trading to close an open trade if the trade moves against the gold trader's position by a certain number of pips.
Once stoploss order is set at a particular level, this stop-loss order will automatically close the open gold trade once the xauusd price 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 gold trade position is going against the direction of the gold trader's open trade position.
Set Stop Loss XAUUSD Order Setting When Opening New XAUUSD Order in Tools Menu on MT5 Android App
To open a new gold order - buy or sell gold trade use the tools window menu within the MT5 Gold Platform as shown below.
The New gold order button for placing a new gold trade transaction is shown below.
Set a Stop Loss XAUUSD Order on MT5 Android App
Once you select the new gold order button as illustrated & shown 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 Stop Loss Gold Order Level for your new xauusd trade.
This pop up includes the settings for placing a new gold trade order as well as settings for setting Stop Loss Gold Order Level.
Analyze and Set a Stop Loss XAUUSD Order on MT5 Android App?
The Following Stop Loss Gold Order Settings 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 Buttons:
- Sell by Market - Open a Sell Gold Trade
- Buy by Market - Open a Buy Gold Trade
To Buy at current xauusd price and open a new gold order choose the Buy by Market gold order button
To Sell at current xauusd price and open a new gold order choose the Sell by Market gold order button
After you open the new xauusd trades use the Stop Loss Gold Order Window Above to Set The Stop Loss Gold Order for the New XAUUSD Order
You can also get this window 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 the opened buy or sell gold trade, then after that click "Modify Order" after you click the modify order button the above trading order settings button key will appear and you can then set the Stop Loss Gold Order using the procedure explained above.
Set a Stop Loss XAUUSD Order on MT5 Android App
