What is TP on MT4 Platform?
TP orders are stocks orders used to close open trades at a profit - TP orders take profit & 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 stock chart.
Setting TP When Opening New Order in Tools Menu on MT4 Platform
To open a new stocks order to buy or sell a trade use the tools menu found within the MT4 Platform as shown below.
The New order button for placing a new trade transaction is shown below. (Keyboard ShortCut Keys 'F9')
What is TP on MT4 Platform? - How to Set TP When Opening Stock Orders in MT4
Once you select the new order button as illustrated and shown above the following stocks trade order pop up window will appear & as a trader you will then use this trade order pop up window to set the TP Level for your new stocks trade.
This pop up includes settings for placing a new stocks trade order as well as settings for setting Take Profit Level.
How to Set Stocks TP Orders on MT4 Platform - Set TP Order in MT4
Following Take Profit Order Settings are specified for placing & setting a new Take Profit stocks order:
TP - Set TP, This option can be set after opening the trade, or for pending stocks orders
Open the Buy or Sell Trade by Clicking the Following Button Keys:
- Sell by Market - Open a Sell Trade
- Buy by Market - Open a Buy Trade
To Buy at current stocks price & open new stocks order select the Buy by Market stocks order button
To Sell at current stocks price & open new stocks order select the Sell by Market stocks order button
After you open the new trades use the TP Window Panel Above to Set the TP order for the New Stock Order.
You can also get this window panel so as to modify an already open buy or sell stocks trade - To get and find this order window for a buy stocks trade, right click on opened buy or sell stocks trade, then after that click 'Modify Order' after you click modify order button key the above trading order settings button key will appear and you can then set the TP Order using the procedure explained above.
