How Do You Use Take Profit Forex Order in MetaTrader 4 Software?
How Do You Use Take Profit Forex Order on MetaTrader 4 Platform?
Take Profit orders are orders used to close open trades 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 trades at a profit once the set takeprofit level is reached on forex chart.
Setting Take Profit When Opening New Forex Order in Tools Menu on MT4
To open a new forex order to buy or sell a trade use tools menu within MT4 Software as shown below.
The New forex order button for placing a new forex trade is displayed below. (MetaTrader 4 Short Cut Keys "F9")
How Do I Use Take Profit Forex Order on MT4 Software?
Once you select the new forex order button key 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 I Use Take Profit Forex Order in MetaTrader 4 Software?
The Following Take Profit Order Setting are specified for placing a new take profit forex order:
Take Profit - Set Take Profit, This option can be set after opening the trade, or for pending orders
Open the Buy or Sell Forex Trade by Clicking the Following MT4 Buttons:
- 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 select Buy by Market forex order button
To Sell at current forex price & open a new forex order select Sell by Market forex order button
After opening the new forex trades use the Take Profit Window Above to Set TP order for the 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 panel for a buy forex 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 Take Profit Order using method explained above.
How Do I Use Take Profit Forex Order on MT4 Software?
