What is a TP Order on MetaTrader 4?

TP orders are stock indices orders used to close open trades at a profit - TP orders TP and close the trade once the specified TP level specified by a indices trader is reached.

TP orders automatically close trades at a profit once the set TP level is reached on the stock indices chart.

Setting TP 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")

What is TP on MetaTrader 4? - How to Set TP 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 TP Level for your new indices trade.

This popup includes the settings for placing a new indices trade order as well as settings for setting TP Level.

How to Set Indices TP Orders on MetaTrader 4 - Set TP Order on MT4

The Following TP Order Settings are specified for placing a new TP indices order:

TP - Set TP, 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:

1. Sell by Market - Open a Sell Trade
2. 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 TP 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 TP Order using the procedure explained above.