How Can I Set Stop-Loss and Take-Profit Levels in MT5?

Created by Support Ridgecorp, Modified on Sat, 19 Oct at 1:41 AM by Support Ridgecorp

During Trade Placement:

Step 1: Open the New Order Window:
- Right-click the symbol in Market Watch and select ‘New Order’, or press F9.
Step 2: Set SL and TP:
- Enter your desired Stop-Loss and Take-Profit levels in the respective fields before placing the order.

For Existing Trades:

Step 1: Go to the Trade Tab:
- Locate your open trade in the ‘Trade’ tab.
Step 2: Modify the Order:
- Right-click on the trade and select ‘Modify or Delete Order’.
- Enter the SL and TP prices.
Step 3: Confirm:
- Click ‘Modify’ to apply the changes.

Stop-Loss helps you limit losses if the market moves against you.
Take-Profit allows you to automatically close a trade when a desired profit level is reached.