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Set or change T/P and S/L values

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 in MetaTrader5 (MT5). The settings are available from the Toolbox or chart.

Step 1

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.

Take-profit (T/P) and stop-loss (S/L) Take-profit (T/P) and stop-loss (S/L)

Or, right-click on the position you wish to modify and select "Modify or Delete".

Select Modify or Delete 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

Double-click on the dotted line on the chart Double-click on the dotted line on the 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.

Right-click on the dotted line on the chart which indicates your current position, then select Modify Right-click on the dotted line on the chart which indicates your current position, then select Modify

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.

Set the stop-loss (S/L) value in the Stop Loss field, and the take-profit (T/P) value in the Take Profit field Set the stop-loss (S/L) value in the Stop Loss field, and the take-profit (T/P) value in the Take Profit field

Step 3

Click "Modify".

Click Modify Click Modify
caution 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

If Modify is not activated If Modify is not activated

Step 4

After the change, the position details in the "Trade" tab will be updated.

The position details in the Trade tab will be updated The position details in the Trade tab will be updated

Date

Created

 : 2022.08.18

Update

Last updated

 : 2022.08.18

Writer

Takayoshi Nakamaru

Manual production consultant, MBA

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Takayoshi Nakamaru

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

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Akira Takagi

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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