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To continue our trading example, let's assume that you want to limit your loss to 20 pips (0.0020) and realize a profit if the price goes up 20 pips. Step 1 – How to set up Stop Loss and Take Profit in MT4 Modify trade in the Order window. How to Place Profit Targets. The first and most important thing you can do is to carefully monitor your trades and margins. You can set Stop Loss and Take Profit as a distance (in points) from the open price. How to set up a Stop Loss on MT4; How to set up a Take Profit level; What a Trailing Stop is and how to use one; As we’ve already explained in our Basic Terms and Vocabulary tutorial, one of the keys to achieving success in financial markets over the long term is prudent risk management. To avoid the stop hunt practice used by some shady brokers you can use Ghost Stop Loss And Take Profit so the broker doesn’t know where your SL and TP are. The "S/L" (Stop Loss) and "T/P" (Take Profit) columns show "0.0000" because no stop loss or take profit levels have been set for this position. This EA works for all of the orders on the platform so there is no need to attach in on the every chart. I personally don’t use trailing stop loss, but maybe you are interested in it because of the different trading strategy you have. Frankly speaking, the most feasible approach of how to use stop-loss and take-profit in Forex is perhaps the most emotionally and technically complicated aspect of Forex trading. In the Order window, you can modify your order starting from the order volume (lot size) and setting up Stop Loss or Take Profit. To set these levels, simply double click on the open position. Req: Simple auto stop loss and take profit EA please 1 reply Stop Loss vs. Hidden Stop Loss 26 replies Looking for an Auto EA or script that manages Take Profit 2 replies Tap a position to see further information: Stop Loss levels, Take Profit levels, ticket numbers and swap charges. Once you click on the arrows in the S/L and T/P fields, the current price will pop up and you can adjust it from there. Go to ‘Quotes’, tap the instrument you want to trade and select ‘New Order’ Tap Android ‘menu’ and select ‘New Order’ First, select the type of order you wish to place. The Stop Loss and Take Profit are not visible to the broker. That’s why stop losses and take profits should be an integral part of your trading. Attaching Stop Loss and Take Profit orders on trades is an option that most traders use to manage their positions without the need to constantly monitor them. The EA sets automatically stop loss and take profit for every new order (also pending ones). MT4 Ghost Stop Loss And Take Profit EA is an expert advisor that can manage your orders Stop Loss and Take Profit. MT4 Ghost Stop Loss And Take Profit EA Features. So, let’s start from the basics of trailing stop loss and then learn how to set it on MT4 platform. Then simply set the Stop Loss or Take Profit level and click "Modify" button below. Open a trade. Hidden Stop Loss And Take Profit. MT4: Stop Loss, Take Profit & Trailing Stop BASIC - Lesson 27 As we’ve already explained in our Basic terms and vocabulary tutorial, one of the keys to achieving success in financial markets over the long term is prudent risk management.