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