What is a TP Order on MetaTrader 4 Platform?
TP orders are cfd orders used to close open trades at a profit - TP orders TP & close the trade once the specified TP level specified by a trader is reached.
TP orders automatically close trades at a profit once the set TP level is reached on the cfds chart.
Setting TP When Opening New Order on Tools Menu on MT4 Platform
To open a new cfd order to buy or sell a trade use the tools menu that is found in the MT4 Platform as shown below.
The New order button for placing a new cfd trade is shown below. (ShortCut Keyboard Keys "F9")
What's TP on MT4 Platform? - How to Set TP When Opening CFDs Orders in MetaTrader 4 Platform
Once you choose the new order button key as shown above the following cfd trade order pop up window panel will pop-up & as a trader you can use this trade order popup window to set the TP Level for your new cfds trade transaction.
This pop-up includes the settings for placing a new cfds trade order as well as settings for setting Take Profit Level.
How to Set CFD TP Orders in MetaTrader 4 Software - Set TP Order on MetaTrader 4 Platform
Following TP Order Settings are specified for setting a new TP cfds trade order:
TP - Set TP, This option can be set after opening the trade, or for pending cfd orders
Open the Buy or Sell Trade by Clicking on the Following Buttons:
- Sell by Market - Open a Sell Trade
- Buy by Market - Open a Buy Trade
To Buy at current cfds price & open new cfd order choose Buy by Market cfd order button
To Sell at current cfds price & open new cfd order select Sell by Market cfd order button
After opening the new trades use the TP Window Above to Set The TP order for New CFDs Order.
You can also get this window panel so as to modify an already open buy or sell cfd trade - To find & get this order window panel for a buy cfd trade, right click in the opened buy or sell cfd trade, then after that click on "Modify Order" after you click on modify order button key the above order settings button key will appear and you as a trader can use set the TP Order using the step by step procedure explained above.
