What's a TP Order in MT4?
TP orders are xauusd orders used to close open trades at a profit - TP orders TP & 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 gold chart.
Setting TP When Opening New Order on Tools Menu in MetaTrader 4
To open a new xauusd order to buy or sell a trade use the tools menu that is found in the MetaTrader 4 Platform as shown below.
The New order button key for placing a new xauusd trade is displayed below. (ShortCut Keyboard Keys 'F9')
What is TP on MT4? - How to Set TP When Opening Gold Orders in MT4
Once you choose the new order button key as shown and illustrated above the following xauusd trade order popup window will appear & you as a trader can use this trade order popup window to set the TP Level for your new gold trade.
This pop up includes the settings for placing a new gold trade order as well as settings for setting TP Level.
How to Set XAUUSD TP Orders in MetaTrader 4 - Set TP Order in MT4
Following TP Order Settings are specified for setting a new TP gold trade order:
TP - Set TP, This option can be set after opening the trade, or for pending xauusd orders
Open the Buy or Sell Trade by Clicking on the Following Buttons:
- Sell by Market - Open a Sell Trade
- Buy by Market - Open a Buy Trade
To Buy at current gold trading price & open new xauusd order select Buy by Market xauusd order button
To Sell at current gold trading price & open new xauusd order select Sell by Market xauusd order button
After opening the new trades use TP Window Above to Set TP order for the New Gold Order.
You can also get this window panel so as to modify an already open buy or sell xauusd trade - To find & get this order panel for a buy xauusd 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 order settings button will appear & you as a trader can use set the TP Order using the step by step procedure described above.
