Set or change T/P and S/L values
Orders (PC)
Orders (PC)
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On MetaTrader4 (MT4) / MetaTrader5 (MT5), you can add a take-profit (T/P) or a stop-loss (S/L) value even after you've placed a new order. You can also change these values after you've set them.
Here we will look at how to set or change take-profit (T/P) and stop-loss (S/L) values on MT4/MT5.
Switch between MT4/MT5 tabs to check the steps for each.
Step 1
You can set the take-profit (T/P) and stop-loss (S/L) values from the Terminal or chart.
Set/change T/P and S/L from the Terminal
Click the "Trade" tab of the Terminal and double-click on the "T/P" or "S/L" field of the position you wish to modify its take-profit (T/P) or stop-loss (S/L) value.
Or, right-click on the position you wish to modify and select "Modify or Delete Order" on the context menu.
Set/change T/P and S/L on the chart
Double-click on the dotted line on the chart which indicates your current position. You can also double-click on the dotted line indicating the take-profit (T/P) or stop-loss (S/L) value if you want to change the values you have set when placing the order.
Related article: How to show position, T/P, or S/L on chart
Or, right-click on the dotted line on the chart which indicates your current position, then select "Modify". You can also right-click on the dotted line indicating the take-profit (T/P) or stop-loss (S/L) value.
Step 2
Set the stop-loss (S/L) value in the "Stop Loss" field, and the take-profit (T/P) value in the "Take Profit" field. To specify the distances from the current price in points, enter the value in the "Level" fields and click "Copy as". To specify the prices, enter the value in the "Stop Loss" or "Take Profit" field.
Step 3
Click "Modify".
If "Modify" is not activated
When placing limit/stop orders, you have to specify a price that's a certain point away from the current price. The difference between the two is called the stop level and it varies by the broker, account type, and symbol. If the "Modify" button is blue or not red, check your price and make sure the deviation isn't smaller than the stop level.
Related article: Check trading conditions
Step 4
After the change, the position details in the "Trade" tab will be updated.
Step 1
You can set the take-profit (T/P) and stop-loss (S/L) values from the Toolbox or chart.
Set/change a take-profit (T/P) or a stop-loss (S/L) value from the Toolbox
Click the "Trade" tab of the Toolbox and double-click on the "S/L" or "T/P" field of the position you wish to modify.
Or, right-click on the position you wish to modify and select "Modify or Delete".
Set/change a take-profit (T/P) or a stop-loss (S/L) value on the chart
Double-click on the dotted line on the chart which indicates your current position. You can also double-click on the dotted line indicating the take-profit (T/P) or stop-loss (S/L) value if you want to change the values you have set when placing the order.
Related article: How to show position, T/P, or S/L on chart
Or, right-click on the dotted line on the chart which indicates your current position, then select "Modify". You can also right-click on the dotted line indicating the take-profit (T/P) or stop-loss (S/L) value.
Step 2
Set the stop-loss (S/L) value in the "Stop Loss" field, and the take-profit (T/P) value in the "Take Profit" field. To specify the prices, type in the left field. To specify the deviation in points, type in the right field or use the ▼▲ marks on the right side.
Step 3
Click "Modify".
If "Modify" is not activated
When placing limit/stop orders, you have to specify a price that's a certain points away from the current price. The difference between the two is called the stop level and it varies by the broker, account type, and symbol. If the "Modify" button is blue or not red, check your price and make sure the deviation isn't smaller than the stop level.
Related article: Check trading conditions
Step 4
After the change, the position details in the "Trade" tab will be updated.
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