Stop loss (SL) and take profit (TP) are limits set on trades (market or pending) so that they are automatically closed at an expected gain or a minimal loss. Here’s how to set up and manage this on the various trading platforms:
When setting up take profit and stop loss, it is important to adhere to stop levels.
Please note that during sharp market movements, prices can change so rapidly that your equity jumps over the stop-loss or take-profit level without touching it. As a result, the stop is triggered only after the equity has moved beyond the level you set, and the positions are closed at the next available market price. After the SL/TP trigger, the order enters an execution queue. This execution process may take a short time to complete, and market movements during this period can also cause the final equity to differ from the level you initially set.
MT4 and MT5
+For desktop, mobile, and WebTerminal versions of MT4 and MT5, SL and TP can be set up in the following ways:
- When opening a market and pending orders in the order window.
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For an open order:
- Double-click on the order in the Trade tab to set up SL/TP values in the order window.
Exness Terminal
+- Select Pending in the order window to set up SL/TP values when opening a market and pending order.
- For an open order: In the Portfolio tab, click the pencil icon next to your open order to set the SL/TP values.
- For an open pending order: Select Pending in the Portfolio tab, then click on the pencil icon next to your pending order to set the SL/TP values.
- For a group of orders of the same instrument and direction: Set up SL/TP for the entire group by clicking Add under the respective column or expand the order group and set up individual SL/TP values for each order. If orders have different values for SL/TP, the group’s line will display Modify.
- To set SL/TP automatically: Go to the gear icon (settings) and toggle the switch to Set SL/TP automatically. Values will then be automatically set based on the previous values set for the same instrument.
Exness Trade
+- When opening an order: Tap Order settings on the order window to set up SL/TP values or tap on +SL and +TP on the chart and adjust accordingly, then hit Confirm.
- For an open order: On the Accounts page, tap on the order under Open, set up SL/TP, and then tap Confirm.
- For an open pending order: Head to the Pending on the Accounts page set up SL/TP, and then tap Confirm.
- For a group of orders of the same instrument and direction: On the Accounts page, swipe left on the group order under Open and select Modify to set up SL/TP values then hit Confirm.
- On the chart, if the order is already open: Head to Open or Pending orders on the Accounts tab and tap an order. Tap View chart, adjust SL/TP values on the chart accordingly, and hit Confirm.