Created
: 2022.08.23
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Change or cancel pending order
Change or cancel pending order
On MetaTrader4 (MT4) / MetaTrader5 (MT5), after placing a limit/stop/stop-limit order, you can still change the price, take-profit (T/P), stop-loss (S/L), and expiration date, as long as the order hasn't been executed yet. Also, you can cancel your limit/stop/stop-limit orders if necessary.(*1)
Here, we'll take a look at how to change or cancel limit/stop orders on MT4/MT5. You can change or cancel pending orders from the Toolbox (Terminal for MT4) or chart.
Switch between MT4/MT5 tabs to check the steps for each.
(*1)Limit and stop orders are available on MT4. Stop-limit orders are only available on MT5.
Step 1
Change an order from the Terminal
Click the "Trade" tab in the Terminal and double-click the pending order to change.
Or, right-click the order to modify and select "Modify or Delete Order".
Change an order on the chart
Double-click the dotted line indicating the pending order on the chart.
Related article: How to show position on chart
Or, right-click the dotted line indicating the pending order and select "Modify".
Step 2
Modify the settings in the order window.
|
Number |
Item name |
Descriptions |
|---|---|---|
|
1 |
Type |
Select "Market Execution" to change to the market order. |
|
2 |
Price |
Set the limit/stop price. Type the price or use the ▼▲ marks on the right side. |
|
3 |
Stop Loss |
Set the stop-loss (S/L) value. Type the price or use the ▼▲ marks on the right side. Related article: Set or change T/P and S/L values |
|
4 |
Take Profit |
Set the take-profit (T/P) value. Type the price or use the ▼▲ marks on the right side. Related article: Set or change T/P and S/L values |
|
5 |
Expiry |
Set the expiration time for the limit/stop order. To specify the date, check the box and open the calendar on the right side to select the date and time. Time is based on the server time. |
Step 3
Click "Modify". To cancel the order, click "Delete".
If "Modify" is not activated
The "Modify" button will remain gray if no change has been made to the order.
Step 4
Once the order is modified, the order details will be updated in the "Trade" tab of the Terminal.
If the order is deleted, it will be removed from the "Trade" tab.
Step 1
Change an order from the Toolbox
Click the "Trade" tab in the Toolbox and double-click the pending order to change.
Or, right-click the order to modify and select "Modify or Delete".
Change an order on the chart.
Double-click the dotted line indicating the pending order on the chart.
Related article: How to show position on chart
Or, right-click the dotted line indicating the pending order and select "Modify".
Step 2
Modify the settings in the order window.
|
Number |
Item name |
Descriptions |
|---|---|---|
|
1 |
Type |
Select "Market Execution" to change to the market order. |
|
2 |
Price |
Set the limit/stop price. Type the price or use the ▼▲ marks on the right side. |
|
3 |
Stop Limit Price |
Set the limit price for the stop-limit order. Type the price or use the ▼▲ marks on the right side. |
|
4 |
Stop Loss |
Set the stop-loss (S/L) value. Type the price or use the ▼▲ marks on the right side.
|
|
5 |
Take Profit |
Set the take-profit (T/P) value. Type the price or use the ▼▲ marks on the right side.
|
|
6 |
Expiration/Expiration date |
Set the expiration type for the limit/stop order. To specify the date, select "Specified" or "Specified day" in the "Expiration" field and specify the date and time in the "Expiration date" field. Time is based on the server time. |
Step 3
Click "Modify". To cancel the order, click "Delete".
If "Modify" is not activated
The "Modify" button will not be blue if no change has been made to the order.
Step 4
Once the order is modified, the order details will be updated in the "Trade" tab of the Toolbox.
If the order is deleted, it will be removed from the "Trade" tab.
Last updated
: 2022.12.13
Nakamaru is a manual production consultant at FINTECS, a company that specializes in creating manuals for their clients.
With a wide range of experience from fintech to entertainment, he presents what user-friendly manuals should be like.
He works with numerous large corporations as an external manual production project manager.
【Business information】
http://www.fintecs.co.jp/profile/
Supervisor
Akira Takagi
Systems engineer, MetaTrader administrator
After graduating from Computer Science at the Uninove, Brazil, in 2014, he has worked on various systems development projects.
He participated as a developer in the launch of forex services in 2019. Since then, he has also been involved in the development of MetaTrader plugins and APIs. He is certified by MetaQuotes as a MetaTrader5 Administrator and active in consulting and advisory as well.
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