What is Stop Loss Gold Order on MT4 Software?
What is a Set Stop Loss XAUUSD Order on MT4?
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 stoploss order is set at a specific level, this stop-loss order will automatically close the open trade once the chart gets to this stop-loss order xauusd price level. Stop Loss order is used in gold trading money management so as to prevent further losses if a trade is going against the direction of the trader's open trade position.
Set Stop Loss XAUUSD Order Setting When Opening New Order in Tools Menu on MT4
To open a new gold trading order to buy or sell a trade use tools menu within MT4 Gold Trading Platform as shown below.
The New order button for placing a new gold trade is illustrated below. (Keyboard ShortCut Keys 'F9')
What is Stop Loss XAUUSD Order on MT4 Platform?
Once you choose new order button as illustrated & illustrated above following gold trade order pop-up panel will pop-up and as a trader you will then use this trade order pop-up window 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.
How to Set Gold Stop Loss Orders in MT4 - Set Stop Loss Gold Order on MT4
The 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 trade, or for pending gold orders
Open the Buy or Sell Trade by Clicking the Following Buttons:
- Sell by Market - Open a Sell Trade
- Buy by Market - Open a Buy 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 the Stop Loss Gold Order Window Above to Set The Stop Loss Gold Order for the New Gold 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 the above trading order settings button key will appear and you can then set the Stop Loss Gold Order using the procedure explained above.
