Modify Stop Loss and Take Profit of An Order from MetaTrader 4 Client Terminal
Recommended prerequisite reading
Why place Stop Loss an Take Profit?
Placing Stop Loss (SL) and Take Profit (TP) is intended to automatic execute to close an open position when the price of underlying asset reaches a predefined price.
When you have a buy position and you anticipate the price will further fall, you place the stop loss below current market price so that it would execute to close the order and stop you from losing more.
When you have a buy position and you anticipate the price will no longer rise further, you place a take profit above current market price so that it would execute to close the order and the profit will be realized.
When you have a sell position and you anticipate the price will rise further, you place the stop loss above current market price so that it would execute to close the order and stop you from losing more.
When you have a sell position and you anticipate the price will no longer fall further, you place a take profit below current market price so that it would execute to close the order and the profit will be realized.
Modify order Stop Loss and Take Profit
To modify an order’s Stop Loss and Take Profit, right click an open order from your Trade tab, then click “Modify or Delete Order”.
Enter the Stop Loss and/or Take Profit value.
Then click the “Modify #___ ___ ___ sl: ___ tp: ___” button.
Your Stop Loss and Take Profit value will also be displayed along with your open order in the Trade tab.
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