Placing, modifying and deletion of Stop-Loss and Take-Profit Orders

When you place an order, you can specify a stop loss and take profit level:
  • The stop loss level is the price to close at if you’re making a loss
  • The take profit level is the price to close at if you’re making a profit
Once you have opened a position, you can modify these levels at any time. First, open the ‘Terminal’ window and then open the position using one of the following methods:
  • Double-click on the ‘Stop Loss’ or ‘Take Profit’ field with the left mouse button
  • Right-click on the position and select ‘Modify or Delete Order’
Modify or Delete Order menu

Figure 1. ‘Modify or Delete Order’ Menu

Once the ‘Order’ window has opened, do the following:
  • Change the ‘Stop Loss’ and ‘Take Profit’ fields to the values you want
  • Press the ‘Modify’ button
Modifying of Stop loss and Take profit orders in MT4

Figure 2. Modifying Stop Loss and Take Profit Levels