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- Setting Stop Loss and Take Profit levels in advance:
The first and the easiest way to add Stop Loss or Take Profit to your trade is by doing it right away, when placing new orders.
To do this, simply enter your price level in Stop Loss or Take Profit fields.
- Note that you’re able to set your Stop Loss level below the current market price and Take Profit level above current market price.
- Setting Stop Loss and Take Profit levels on an already opened trades through charts:
The easiest way to add SL/TP levels to your already opened position is by a using trade line on the chart. To do so, simply drag and drop the trade line up or down to specific level.
Once you’ve entered SL/TP levels, the SL/TP lines will appear on the chart. This way you can also modify SL/TP levels simply and quickly.
- Setting Stop Loss and Take Profit levels on an already opened trades through modify option:
You can also do this from the bottom ‘Terminal’ module as well. To add or modify SL/TP levels, simply right-click on your open position or pending order and choose ‘Modify or delete order’.
The order modification window will appear and now you’re able to enter/modify SL/TP by the exact market level, or by defining the points range from the current market price.
- Stop Loss and Take Profit levels on a Mobile MT4 when opening a new position
To set stop loss on an MT4 Android phone, go to the “Quotes” tab and then pick the instrument. You can then choose the option “New order” and execution type (ex: market execution). After that trader will have the option to set volume, Stop Loss and Take Profit, and target. In the last step, traders can choose from BUY or SELL option.
- Stop Loss and Take Profit levels on a Mobile MT4 with the Modify option
To add a Stop Loss to an already active trade, please go to the option “Trade” then tap and hold an open position.
After that, a new pop-up window will appear on the application, and users can select the option ‘Modify”.
In addition, users will be able to enter stop loss or take profit details and then enter a “Modify” option.