How Do I Use Bitcoin Stop Loss Order on MT5?
How Do I Trade Bitcoin and Use Stop Loss Bitcoin Order on MT5?
A stop loss bitcoin 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 cryptocurrency trading order is set at a specified level, this stop loss cryptocurrency order will automatically close-out the open trade once the price chart gets to this stop-loss cryptocurrency order bitcoin price level. Stop-loss order is used in btcusd 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 Stop Loss Bitcoin Order 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 trade is illustrated below. (MT5 Short-Cut Key board Keys 'F9')
How Do I Use Bitcoin Stop Loss Order on MetaTrader 5?
Once you select the new crypto order button as illustrated and shown above the following bitcoin trade order window popup will appear & you as a trader can use this trade order window popup to set the StopLoss Bitcoin Order Level for your new bitcoin trade transaction.
This pop-up includes the settings for placing a new bitcoin trade order as well as settings for setting StopLoss Bitcoin Order Level.
How Do You Trade Bitcoin and Use Stop Loss Bitcoin Order on MetaTrader 5?
Following Stop Loss Bitcoin Order Setting are specified for placing a new Stop Loss BTCUSD Crypto Order:
Stop Loss Cryptocurrency Order - Set Stop Loss Bitcoin Order, This option can be set after opening the trade, or for pending bitcoin orders
Open the Buy or Sell Bitcoin Trade by Clicking the Following Button Keys:
- Sell by Market - Open a Sell Bitcoin Trade
- Buy by Market - Open a Buy Bitcoin Trade
To Buy at current bitcoin price & open a new bitcoin order choose the Buy by Market bitcoin order button
To Sell at current bitcoin price & open a new bitcoin order choose the Sell by Market bitcoin order button
After you open the new cryptocurrency trades use the Stop Loss Bitcoin Order Window Above to Set The Stop Loss Bitcoin Order for the New Cryptocurrency Order
You can also get this window so that to modify an already open buy or sell bitcoin trade - To find and get this order window panel for a buy bitcoin trade, right click in 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 Bitcoin Order using the procedure described above.
Analyze & Use TP Cryptocurrency Orders and Use Stop Loss Bitcoin Order on MetaTrader 5?
