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How to Set a Take Profit Order on MetaTrader 5

How to Add and Modify XAUUSD Take Profit Orders on MT5

XAUUSD TP orders are orders used to automatically close open trades on MetaTrader 5 platform. XAUUSD TP orders are used by traders to help secure profits and close open transactions once these trades heads in direction of traders' position by a specific number of pips in profit.

TP orders can be placed when executing new trades and Take-Profit orders can also be set for already opened trades.

How to Place TP Orders When Executing New Trades

  1. Open a chart for the instrument you as the trader want to trade
  2. Right Click on the Chart
  3. Choose New Order button
  4. Select the Set TakeProfit Option within this New Order window
  5. Specify your Take-Profit level for the trade that you as the trader want to open
  6. Choose buy/sell to open a trade position

For a buy xauusd trade the TP order is placed above the price quote you want to buy at and for a sell trade the TakeProfit is placed below the price quote you as a trader want to sell at.

How to Place TP Orders for Open Trades

Select trade you want to modify from MetaTrader 5 xauusd trades panel

  1. Right click the trade order and choose Modify Order
  2. Choose Take Profit Order Field
  3. Specify the Take Profit level for the trade
  4. Click the Modify Order Button

How Do I Set Take Profit Order in MetaTrader 5

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