How to Set Take Profit Forex Order on MT5
How to Add & Modify Forex Take Profit Orders on MT5
Forex Take Profit orders are forex orders used to automatically close open forex trades in MetaTrader 5 platform. Forex Take Profit orders are used by traders to help secure forex profits & close open forex trades once these forex trades moves in direction of the traders' position by a specified number of forex pips in forex profit.
Take Profit orders can be set when opening new forex trades & Take Profit orders can also be set for already opened forex trades.
How to Set Forex Take Profit Orders When Opening New Trading Trades
- Open a Forex trading chart for the forex instrument you want to trade
- Right Click on the Chart
- Select New Order button
- Select the Set Take Profit Option within this New Order forex trading window
- Specify your Take Profit level for the forex trade that you want to open
- Select buy or sell to open a FX trade
For a buy forex trade the forex Take Profit order is set above the forex price quote you want to buy at and for a sell forex trade the forex Take Profit order is set below the forex price quote you want to sell at.
How to Set Forex Take Profit Orders for Open Trading Trades
Select forex trade you want to modify from the MT5 forex trade transactions window
- Right click on the forex trade order & select Modify Order
- Select Take Profit Field
- Specify the Take Profit level for the FX trade
- Click the Modify Order Button Key
How to Set Take Profit Forex Order on MT5
