How to Set Stop Loss and Take Profit in MT4 App

To set a stop loss and take profit in the MT4 app, follow these steps:

1. Open the MT4 app and log in to your account.
2. Navigate to the trade tab, and find the position that you want to set a stop loss and take profit for.
3. Right-click on the position to open the context menu, and select “Modify or Delete Order”.
4. In the “Type” section, choose “Pending Order” if you want to set a stop loss and take profit before entering a trade, or “Stop Loss” or “Take Profit” if you want to modify an existing trade.
5. In the “Stop Loss” or “Take Profit” section, enter the price at which you want the position to automatically close.
6. Choose the “Expiration” time for your order.
7. Click “Modify” to save your changes.

You can also set a stop loss and take profit when opening a new trade. To do this, follow these steps:

1. Open the MT4 app and log in to your account.
2. Navigate to the “New Order” tab.
3. Select the currency pair that you want to trade.
4. Set the “Volume” of your trade.
5. In the “Stop Loss” or “Take Profit” section, enter the price at which you want the position to automatically close.
6. Click “Sell” or “Buy” to open your trade.

Remember that stop loss and take profit orders are critical risk management tools that can help limit your potential losses and secure your profits. Always make sure to set them properly before entering a trade.