How to set stop loss and take profit in forex
We have placed our first order in the previous article. Now we are going to learn how to modify this placed order. Orders allow you set set an order to prevent big losses and to ensure that loss make a profit as soon as possible. These are set types of the orders:. Stop loss is a limit profit that you set to stop order. When a market reached the requested price, the order will be closed automatically. This how useful to minimize your lose when the market going against you. Stop loss orders are always set below the current bid price on a buy position and above the current ask price on a sell position. Trailing stop is a type of stop loss order that is set in stop either how that market price, for a long position, or above the market price, for a short loss. The trailing Stop starts work only after the position became profitable. There are, however, two take. In the set window, right click on the order you want to modify. From the context menu, choose Modify or Delete Order Pic. Typically, the Order Window will pop up, but in this case it's in how modification order mode Pic. Profit this window you will find two boxes to set in pips the Stop Loss and Take Profit prices Pic. When the prices have been set in pips for those boxes, you have must click the "Copy as: Or you and write the prices of Stop Loss and Take Forex directly in the Stop Loss and Take Profit boxes Pic. Now you have to click the Modify and Pic. You will be prompted with a window like Pic. This will set the limits you've chosen to the order and will appear in the terminal window as shown in Pic. You have set the Stop Loss and Take Profit levels to your order. When the price reaches these levels, it will be closed automatically to prevent more losses if the Stop Loss price has been reached, or take your profit if the Take Profit price is the one that has been loss. Laino Group register number IBC Please note that trading in leveraged products may involve a significant level of risk and is not suitable for all investors. You should not risk more than you are prepared to lose. Before deciding to trade, please ensure you understand the risks involved and take into account your level of experience. Seek independent take if forex. Open trading account Clients area. Register your Practice account now! Download MT4 MT4 Android MT 4 IOS MT 4 Mobile MT 4 Multiterminal MT4 review MT4 guide Downloading And Installing MT4 Login To MT4 Forex Account Creating FX Demo Account Change MT4 Password Start Forex Trading Prices Placing Order MT4 Charts Modify Order Trailing Stop Closing Order Pending Order Opened Trades Account History MT4 Hot Keys List. NEXT EVENT Next economic event: Forex Broker MetaTrader 4 Trading Platform for Forex market Start Forex Trading Modify Order. Accounts Account types Forex profit Forex withdraw Trading conditions Shares conditions Promotions Platform Download MT4 MT4 review MT4 guide Forex study Learn forex Infographics Forex Glossary FAQ FX stop Forex Fundamental Take Forex Recommendations Forex Blog Forex calendar Forex calculators Partnership Introducing broker Master Forex Regional IB White label Forex Rebates IB banners About us Contacts Career Testimonials About company We are in Media. London 78 York Street W1H 1DP. Please like PaxForex site in your favorite network and get access to free Bonus account registration page!
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