Trading Bitcoin Set SL Cryptocurrency Order on MT5
How Do I Trade Bitcoin and Set SL Cryptocurrency Order on MT5?
A SL order is an order used in bitcoin 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 specific level, this Stop-Loss order will automatically close-out the open trade once the chart gets to this Stop-Loss order bitcoin trading price level. SL order is used in btcusd money management so that to prevent further losses if an open trade is going against the direction of the trader's open position.
Set SL Setting When Opening New Bitcoin Order in Tools Menu on MT5
To open a new cryptocurrency order to buy or sell a trade use tools menu within the MetaTrader 5 Platform as shown below.
The New crypto order button for placing a new btcusd trading is shown below. (MetaTrader 5 Short Cut Keyboard Keys "F9")
Bitcoin Trading Set SL Cryptocurrency Order in MetaTrader 5?
Once you select the new crypto order button as illustrated and shown above the following bitcoin trade order window pop up will appear & you as a trader can use this trade order window pop up to set the Stop-Loss Level for your new bitcoin trade.
This popup includes the settings for placing a new bitcoin trade order as well as settings for setting SL Level.
How Do You Trade Bitcoin and Set SL Cryptocurrency Order in MetaTrader 5?
Following Stop Loss Order Settings are specified for setting up and placing a new SL bitcoin trade order:
SL - Set SL, This option can also be set up after opening the trade, or for a pending bitcoin orders
Open the Buy or Sell Bitcoin Trade by Clicking the Following Buttons:
- Sell by Market - Open a Sell Bitcoin Trade
- Buy by Market - Open a Buy Bitcoin Trade
To Buy at current bitcoin trading price & open a new bitcoin order select the Buy by Market bitcoin order button
To Sell at current bitcoin trading price & open a new bitcoin order select the Sell by Market bitcoin order button
After you open the new cryptocurrency trades use the SL Window Above to Set the SL order for the New Cryptocurrency Order
You can also get this window panel so that to modify an already open buy or sell bitcoin trade - To find & get this order window panel for a buy bitcoin trade, right-click on the opened buy or sell bitcoin trade, then after that you click the "Modify Order" after you click on modify order button key the above trading order settings button key will pop up and appear & you can set the Stop Loss Order using the procedure described above.
Analyze & Set SL Cryptocurrency Order in MetaTrader 5?
