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How to set Stop Loss, Take Profit and Pending Orders in Metatrader

Modify or Delete Orders

Open the window “Terminal” in the metatrader 4 trading terminal and select the position for which you want to set or modify Stop Loss or Take Profit. Right-click on the position and select the point “Modify or Delete Order”.

Changing Take Profit and Stop Loss

Input necessary Take Profit and Stop Loss values in the window of the metatrader terminal and then press “Modify”.

How to set Pending Orders

Pending orders is an effective tool of metatrader 4 that saves a trader from constant staying at the monitor of his personal computer. For example, if you want to buy EURUSD for the price 1.3867, you don’t have to sit down and wait for price reaching this value. You can set a pending order in your Metatrader terminal and continue doing other things. The broker will perform the order even if your terminal is turned off at that moment. You can also set Take Profit and Stop Loss for your pending order.

Go to the Metatrader and open the window “Market Watch”. Right-click on the necessary currency pair and select the item “New order” or press the hotkey F9. Select “Pending order” in the field “Type”.

There are the following fields in the window “Order” in metatrader:

  • Symbol – here you can select the trading instrument;
  • Volume – the field where you can set the volume of a trade;
  • Stop Loss and Take Profit – fields for setting Stop Loss and Take Profit accordingly;
  • Comment – the field where you can write any comment for yourself to simplify work in Metatrader in future;
  • Type – selection of four types of pending orders: SellLimit, BuyLimit, SellStop, BuyStop;
  • at price – here you specify the price that you want to be used by the broker to open a position;
  • Expiry – selection of time after which the order will be irrelevant.

Having finished input of the data in the metatrader 4 window, press “Place”. The pending order will appear in the window “Terminal” next to the line with your account balance. If you want, you can modify or delete the order.

Types of Pending Orders in the Metatrader 4 trading terminal:

There are Four types of pending orders:

Buy Limit – opening of a position at reaching of the set value by the “Ask” price. In this case the current price exceeds the level of the placed order. As a rule, such orders are placed with an eye to price, which will start rising after having descended to the certain value.

Buy Stop – opening of a position at reaching of the set value by the “Ask” price. In this case the level of the placed order exceeds the current price. As a rule, such orders are placed with an eye to price, which will continue rising after having ascended to the certain value.

Sell Limit – closing of a position at reaching of the set value by the “Bid” price. In this case the level of the placed order exceeds the current price. As a rule, such orders are placed with an eye to price, which will start falling after having ascended to the certain value.

Sell Stop – closing of a position at reaching of the set value by the “Bid” price. In this case the current price exceeds the level of the placed order. As a rule, such orders are placed with an eye to price, which will continue falling after having descended to the certain value.


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