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