EURUSD 1.1859 USDJPY 111.62 USDCAD 1.2372 EURCZK 26.031 USDCZK 21.945 EURPLN 4.2728 USDPLN 3.6034
EURUSD 1.1859 USDJPY 111.62 USDCAD 1.2372 EURCZK 26.031 USDCZK 21.945 EURPLN 4.2728 USDPLN 3.6034

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Setting take profit orders works similarly to stop loss orders

Rule of thumb

The take profit for the long position will be activated  at the moment when the Bid price on the market  reaches the defined level.

  

For a short position, the activation will be triggered by the Ask price.

In order to define a take profit order for an open position, one can double-click with the left-mouse button on the S/L or T/P column of the open position in question. Another method is to click the right-mouse-click on the open position and choose the „Modify or Delete” option from the context menu.

 

As a  result,  the same window will appear on the screen as in the case of a stop loss order.

 

Now you can define the new Take Profit level, either as a definite price (by typing in the new price Take Profit field) or in points, in relation to the current price (field points on the right hand side).

 

Now for a practical  example. Let us assume that for an open long position of EURUSD, the current market price is Bid 1,2420 Ask 1,2422. The trader can choose:

  • to set the Take Profit order at  a predefined price – if the trader expects that the price will touch the 1,2500 level and then will fall back to the current level, he/she can set the Take Profit at 1,2500 level,
  • to assume that the position should bring a profit of a certain number of points. For example, if the decision is that in the position scenario it  should earn 80 points, the value 80 could be entered in the „points” field on the right hand side of the Take Profit window.

 

If the new Take Profit is defined correctly, a button „Modify...” with the data of the position in question, should become active. By pressing the button, the new take profit value will be confirmed and become visible in the position data in the Toolbox window at the bottom of the trading platform.

 

take profit, metatrader

 

When the„Modify...” button is not active, the possible reason is that the new value of Take Profit level has not been entered correctly. The Take Profit level should be:

  • for long positions - higher than the current market price .
  • for short positions - lower than the current market price.

 

The new Take Profit level should not be closer to the actual market price than the limit defined for the given market, in the same way  as a Stop Loss order.

Pola oznaczone gwiazdką są wymagane.

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