Definition Take Profit Indices Orders on MT4 Explained with Examples
Take Profit Indices Orders are stock indices orders used to close open trades at a profit - take profit orders take profit and close the trade once the specified take profit level specified by a indices trader is reached.
Take profit orders automatically close trades at a profit once the set take profit level is reached on the stock indices chart.
Setting Take Profit Indices Order When Opening New Order on Tools Menu in MT4
To open a new stock indices order to buy or sell a trade use the tools menu within the MT4 Indices Trading Platform as shown below.
The New order button for placing a new indices trade transaction is shown below. (Short Cut Keyboard Keys "F9")
How to Set Take Profit Indices Order When Opening Indices Orders on MT4
Once you select the new order button as illustrated above the following indices trade order popup window will appear and as a indices trader you can use this trade order popup window to set the Take Profit Indices Order Level for your new indices trade.
This popup includes the settings for placing a new indices trade order as well as settings for setting Take Profit Indices Order Level.
Set Take Profit Indices Order on MT4
The Following Take Profit Indices Order Settings are specified for placing a new take profit indices order:
Take Profit Stock Indices Order - Set Take Profit Indices Order, This option can be set after opening the trade, or for pending indices orders
Open the Buy or Sell Trade by Clicking the Following Buttons:
- Sell by Market - Open a Sell Trade
- Buy by Market - Open a Buy Trade
To Buy at current stock indices price and open a new stock indices order select the Buy by Market indices order button
To Sell at current stock indices price and open a new stock indices order select the Sell by Market indices order button
After opening the new trades use the Take Profit Indices Order Window Above to Set The TP order for the New Indices Order.
You can also get this window so as to modify an already open buy or sell indices trade - To get this order window for a buy indices trade, right click on the opened buy or sell indices trade, then after that click "Modify Order" after you click the modify order button the above order settings button will appear and you can set the Take Profit Indices Order using the procedure explained above.