Trading Bitcoin Set SL Order on MT5

How Do I Trade Bitcoin and Set SL Order on MT5?

A SL order is an order used in bitcoin trading to close an open trade if the trade transaction moves against the trader's position by a certain number of pips.

Once the StopLoss order is set at a specific level, this SL order will automatically close out-outclose the open trade once the chart gets to this SL order bitcoin price level. SL order is used in btcusd 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 Order in Tools Menu on MetaTrader 5

To open a new btcusd cryptocurrency order to buy or sell a trade transaction use tools menu within MT5 Platform as illustrated below.

The New bitcoin crypto order button for opening a new bitcoin crypto trade is illustrated below. (MT5 Short-cut key-board Keys 'F9')

Trading Set SL Crypto Order on MT5

Once you select the new bitcoin order button as high-lighted and shown above the following bitcoin trade order panel pop up will appear & you can use this trade order panel pop up to set SL Level for your new bitcoin trade transaction.

This pop-up includes the settings for placing a new bitcoin order as well as settings for setting Stop Loss Level.

Trading Set SL Crypto Order on MT5?

Following Stop Loss Order Settings are specified for setting up and placing a new SL bitcoin crypto currency trading order:

Stop Loss - Set Stop Loss Order, This option also can be set up after opening the trade, or for a pending bitcoin crypto currency orders

Open Buy or Sell Bitcoin Crypto Trade by Clicking the Following Button:

Sell by Market - Open a Sell Bitcoin Crypto Currency Trade
Buy by Market - Open Buy Bitcoin Crypto Currency Trade

To Buy at prevailing bitcoin crypto currency price & open a new bitcoin crypto currency order select the Buy by Market btcusd crypto order button

To Sell at prevailing btcusd crypto price and open a new bitcoin crypto order choose the Sell by Market bitcoin crypto currency order button

After you open the new trade transactions use the SL Window Above to Set the SL order for the New Order

You also can get this panel so that to modify an open buy or sell bitcoin crypto currency trade - To find and get this order panel window for a buy btcusd crypto trade, right-click on opened buy or sell btcusd crypto trade, then after that you click 'Modify Order' after you click on modify order button key the above order settings button key will pop-up & appear & you can set StopLoss Order using the tutorial described above.

Set SL Order on MT5?

Study More Lessons & Topics:

Trade Bitcoin Trading

Trading Bitcoin Set SL Order on MT5

How Do I Trade Bitcoin and Set SL Order on MT5?

Set SL Setting When Opening New Order in Tools Menu on MetaTrader 5