How Do I Set SL XAUUSD Order on MT5?
How Do I Set SL XAUUSD Order on MetaTrader 5 XAUUSD Trading?
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 the SL order is set at a particular 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 trading 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 SL Setting When Opening New XAUUSD Order in Tools Menu on MT5
To open a new gold trading order to buy or sell a trade use the tools menu within the MT5 Gold Platform as shown below.
The New gold order button for placing a new gold trading transaction is shown below. (MT5 Keyboard Short Cut Keys "F9")
Set SL XAUUSD Order on MT5 - Set SL XAUUSD Order on MT5?
Once you select the new gold order button key as illustrated & shown above the following gold trade order popup window will appear and as a trader you will then use this trade order popup window to set the SL Level for your new xauusd trade transaction.
This pop up includes the settings for placing a new xauusd trade order as well as settings for setting SL Level.
Analyze & Set SL XAUUSD Order on MT5?
The Following SL Order Settings are specified for placing and setting a new Stop-Loss xauusd trade 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 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 new gold order choose the Buy by Market gold order button
To Sell at current xauusd price and open new gold order choose the Sell by Market gold order button
After you open the new xauusd trades use Stop-Loss Window Above to Set The Stop-Loss 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 in the opened buy or sell gold trade, then after that click "Modify Order" after you click the modify order button key the above order settings button key will appear and you can then set the SL Order using the method explained above.
Set SL XAUUSD Order on MetaTrader 5
