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METATRADER 5 PLATFORM:

What is a stop order and how does it work?

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MetaTrader 5 Platform

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A Stop Order is a type of Pending Order to buy or sell once a pre-defined price is reached. When the price is reached, the stop order becomes a market order and is executed at the best available price. 

There are many types of Stop Orders:

• Buy Stop: to buy at a price higher than the current ask price.
• Sell Stop: to sell at a price lower than the current bid price.
• Stop Loss: to close an order if the market price reaches a specified price, which may represent a loss or profit. The purpose of using a Stop Loss order is to prevent additional losses if the price goes against you.

To learn more about stop orders, as well as all order types available, visit our Help Center here.

How to place a Stop Order

  1. First, Log into MT5.
  2. Then, open a new order by double-clicking your chosen instrument.
  3. Next, change Order Type to Pending Order.
  4. Then select Buy Stop or Sell Stop from the revealed area under Type.
  5. Set the requested price, ensuring it stays within valid parameters in case of an invalid SL/TP message then click Set.
  6. A message should confirm that your Stop Order is now set.
  7. Next, double-click the order located in the Trade tab, to open up the order’s settings, and set the Stop Loss price then click Modify to confirm.
  8. Now, you’ve set up your order with a Stop Order, including Stop Loss.

If you need to edit your Stop Orders, including Stop Loss, simply double-click the order in the Trade tab to open up customization options.

Please note: If you choose an expiry date that falls during a weekend, your order will expire before the market closes at the end of the current week.
 
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