Setting Stop Loss (SL) and Take Profit (TP) in Meta Trader is essential for managing risk and securing profits in your trades. This guide walks you through the exact steps to configure SL and TP levels easily in the Meta Trader on your computer or mobile. By using these tools effectively, you can automate your trading strategy and protect your investments. For related tips, check out How to Enable Trailing Stop and Understanding Pending Orders in Meta Trader.
On Computer
- For the New Order: You can add Stop Loss/Take Profit right when you create a new order. When opening a new order, enter your desired TP and SL levels in the respective fields.
- For existing order: Or once the older is opened, you can modify it by Going to the "Trade" tab in the Meta Trader Right click on the open order Modify or delete Order
Note:
Stop Loss (SL) and Take Profit (TP) must be set at a minimum distance from the current market price. This distance varies depending on the instrument. You can check the required distance in MetaTrader by navigating to:
Market Watch Right-click on the instrument Specification Stops Level.
Stop Loss (SL) and Take Profit (TP) must be set at a minimum distance from the current market price. This distance varies depending on the instrument. You can check the required distance in MetaTrader by navigating to:
Market Watch Right-click on the instrument Specification Stops Level.
On Mobile
- For the New Order: Tap New Order, then set TP and SL under the order details before confirming.
- For existing order: Tap Trade at the bottom to see your open positions Tap and hold the order, then select Modify (or Modify Order) Tap Modify to save changes.
- For Buy positions, SL must be below the current market price and TP should be above the current price
- For Sell positions, SL must be above the current market price and TP should be below the current price.