How Do You Set TP Order on MT5?
How Do I Set TP Order on MT5?
TP orders are orders used to close open trades at a profit - TP Orders and close the trade once the specified Take Profit Order level specified by a xauusd trader is reached.
TP orders automatically close trade transactions at a profit once the set Take-Profit level is reached on chart.
Setting TP When Opening New Order in Tools Menu in MT5
To open new order to buy or sell a trade position use tools window panel menu within MetaTrader 5 Platform as shown below.
The New order button for placing a new trade is portrayed below. (MT5 key-board Short Cut Keys 'F9')
Set TP Order on MT5 - Set TP Order on MT5?
Once you select new trade order button as illustrated above following trade order pop up window will appear & as a trader you'll then use this trade order pop up window to set Take Profit Level for your new trade.
This pop up includes settings for placing new order as well as parameters for setting TP Level.
Set TP Order on MT5?
The Following TP Order Settings are specified for placing and setting a new Take Profit trading order:
Take Profit Order - Set TP, This option can be set after opening the trade, or for the pending orders
Open Buy or Sell Trade by Pressing the Following Button Keys:
- Sell by Market - Open a Sell Trade
- Buy by Market - Open a Buy Trade
To Buy at prevailing price & open new order select the Buy by Market xauusd order button
To Sell at prevailing price and open new order choose the Sell by Market gold order button
After you open the new trade transactions use the TP Order Window Above to Set the Take Profit for the New Order.
You can also get this panel in order to modify an open buy/sell trade position - To find this order window panel for a buy or sell trade, right click on opened buy or sell gold trade, then after that click 'Modify Order' button after you press modify order button the above order settings button will appear and you then can set Take Profit Order using the method explained above.
Set TP Order on MT5
Study More Courses & Lessons:
- How to Trade MT5 Upwards Gold Channel in MT5 Platform
- Technical XAUUSD Indicators Used for Setting Stop Loss Orders
- How to Place MT5 Momentum Trading Indicator on Gold Chart
- Gold Stop Loss Calculator Excel
- Gold MA Strategy Gold Indicator Technical Analysis
- Can You Trade Gold Without XAU/USD Leverage?
- Gold Demo Account
- How Do You Read Chande QStick Indicator?
