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