Trading CFD Set TP CFD Order on MetaTrader 5
How Do You Set TP CFD Order on MetaTrader 5?
TP orders are cfd orders used to close open trades at a profit - TP orders take profit & close the trade once the specified TP level specified by a trader is reached.
TP orders automatically close trades at a profit once the set TP level is reached on the cfds trading chart.
Setting TP When Opening New CFD Order on Tools Menu in MT5
To open a new cfd order to buy or sell a trade use the tools menu found in MetaTrader 5 CFD Trading Platform as shown below.
The New cfd order button key for placing a new cfds trade is displayed and illustrated below. (MetaTrader 5 Short Cut Keyboard Keys "F9")
Set TP CFD Order on MT5?
Once you select the new cfd order button as illustrated above the following cfd trade order pop up window will pop-up and as a trader you'll use this trade order popup window to set the TP Level for your new cfd trade.
This pop up includes settings for placing a new cfd trade order as well as settings for setting TP Level.
How Do You Set TP CFD Order on MT5?
Following TP Order Settings are specified for setting up a new TP cfd order:
TP - Set TP, This option can also be set after opening the trade, or for the pending cfd orders
Open the Buy or Sell CFD Trade by Clicking on the Following Buttons:
- Sell by Market - Open a Sell CFD Trade
- Buy by Market - Open a Buy CFD Trade
To Buy at current cfd price and open new cfd order choose Buy by Market cfd order button
To Sell at current cfd price and open new cfd order select Sell by Market cfd order button
After opening the new trades use the TP Window Above to Set TP order for the New CFD Trading Order.
You can also get this window so as to modify an already open buy or sell cfd trade - To find this order window for a buy cfd trade, right click on opened buy or sell cfd trade, then after that you click on "Modify Order" after you click the modify order button the above order settings button will appear & you as a trader can use set the TP Order using the step by step procedure explained above.
Set TP CFD Order on MT5 Software?
