Stop Loss and Take Profit on MT4 Explained

Once you're in a trade or position, you need to add stop loss and take profit. Now, how to add stop loss and take profit on MT4? Look at the video below where we explain.

How to add Stop Loss and Take Profit on MT4

Launch MT4 and make sure you are connected to the internet. At this point you are looking at the live markets and you can open and close a trade in MT4. Open a trade, as discussed in this article. Next you can add stop loss and take profit on MT4.

Adding Stop Loss and Take Profit

To add stop loss and/or take profit you need to modify and order. If you want to modify an order, click the "Trade" tab in the "Terminal" window and right click. Then select "Modify or Delete Order."

A new window will open in which you can manually specify or change stop loss and/or take profit levels.

You can use the "Copy As" buttons to populate the stop loss and take profit fields with the current market price. You can then make changes to the prices to get the stop loss and/or take profit level that you want. Once you've specified these levels you can click on the long, horizontal bar at the bottom of the screen which says "Modify".

Once you have specified the stop loss and/or take profit values, they will appear on your chart as horizontal lines at their respective price levels.

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