What's S L Indices Order on MetaTrader 4?
What's a Set SL Order on MT4?
A SL order is an order used in indices 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 particular level, this StopLoss order will automatically close out the open trade once the trading chart gets to this Stop-Loss order stock indices price level. SL order is used in indices trading money management so that 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 Order on Tools Menu in MetaTrader 4
To open a new stock index order to buy or sell a trade use the tools pop up menu within the MT4 Indices Trading Platform as shown below.
The New order button for placing a new index trade is displayed and illustrated below. (ShortCut Keyboard Keys "F9")
What is SL on MetaTrader 4? - How to Set SL When Opening Indices Orders on MetaTrader 4
Once you have selected new order button as illustrated above following indices trade order window pop up will appear & you as a trader can use this trade order window pop up to set the SL Level for your new indices trade.
This pop up includes the settings for placing a new indices trade order as well as settings for setting SL Level.
How to Set Indices Trading SL Orders in MT4 - Set SL Order in MetaTrader 4
Following SL Order Settings are specified for setting up and placing a new SL indices order:
SL - Set SL, This option can also be set up after opening the trade, or for a pending indices 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 stock indices price & open a new stock indices order select Buy by Market indices order button
To Sell at current stock indices price & open a new stock indices order select Sell by Market indices order button
After opening the new stock indices trades use SL Window Panel Above to Set SL order for the New Indices Order
You can also get this window so that to modify an already open buy or sell indices trade - To get this order window panel for a buy indices trade, right click on opened buy or sell indices trade, then after that you click the "Modify Order" button after you click on modify order button the above trading order settings button will popup and appear & you can set Stop Loss Order using the procedure explained above.
