Trade Stock Indices

How to Set Take-Profit Indices Order on the MT4 Software

Add and Edit Take Profit Orders for Indices on MT4

Stock Index Take Profit (TP) orders are mechanisms programmed into the MT4 software to automatically close open positions related to stock trading. Stock traders employ Indices TP orders as a tool to lock in profits on indices positions, closing transactions once the trade moves in the trader's favor by a predetermined number of indices pips as profit.

TakeProfit (TP) orders can be established when executing new stock trades, and they can also be set for existing stock trades.

How do you set take-profit orders for indices when placing new trades?

  1. Open a Indices chart for the indices instrument you as a trader want to trade
  2. Right-Click the Indices Chart
  3. Select New Order button
  4. Choose and Select the Set Take Profit Option within this New Order trade panel
  5. Specify your TakeProfit Order level for the trade transaction that you as a trader want to open
  6. Choose buy/sell to open a trade

For a buy trade, the take-profit (TP) order should be set above the entry price. Conversely, for a sell trade, the TP order needs to be positioned below the chosen entry point.

How to Set Indices TP Orders for Open Indices Trades

Select/Choose trade you want to modify from MT4 stock trade transactions window

  1. Right click stocks trade order and choose Modify Order
  2. Choose TP Field
  3. Specify the Take-Profit level for the trade transaction
  4. Click the Modify Order Button Key

How Can I Set Take-Profit Indices Order on the MT4 Software

Learn More Lessons:

Stock Index Broker