What's a TP Order on MetaTrader 4?
TP orders are gold orders used to close open trades at a profit - Take Profit orders Take Profit & close the trade once the specified Take Profit level specified by a trader is reached.
TP orders automatically close trades at a profit once the set Take-Profit level is reached on the xauusd chart.
Setting TP When Opening New Order in Tools Menu on MT4
To open a new gold order to buy or sell a trade use the tools popup menu within the MT4 Gold Trading Platform as shown below.
The New order button key for placing a new trade transaction is illustrated below. (Key board Short-Cut Keys "F9")
What is TP on MetaTrader 4? - How to Set TP When Opening Gold Orders on MetaTrader 4
Once you select new order button as illustrated and illustrated above following gold trade order popup window will appear & as a trader you will then use this trade order popup window to set the Take-Profit Level for your new xauusd trade.
This pop up includes the settings for placing a new xauusd trade order as well as settings for setting Take Profit Level.
How to Set Gold TP Orders on MetaTrader 4 - Set TP Order on MT4
The Following TP Order Settings are specified for placing & setting a new Take Profit xauusd trade order:
TP - Set TP, This option can be set after opening the trade, or for the pending gold orders
Open the Buy or Sell Trade by Clicking the Following Button Keys:
- Sell by Market - Open a Sell Trade
- Buy by Market - Open a Buy Trade
To Buy at current xauusd trading price and open new gold order select the Buy by Market gold order button
To Sell at current xauusd trading price and open new gold order select the Sell by Market gold order button
After you open the new trades use the TP Window Above to Set the TP order for the New Gold Order.
You can also get this panel in order to modify an already open buy or sell gold trade - To find this order window for a buy gold trade, right-click in the opened buy or sell xauusd trade, then after that click "Modify Order" button after you click the modify order button key the above trading order settings button key will appear & you can then set the Take Profit Order using the procedure explained above.
