How to Set Stop Loss and Take Profit in MetaTrader 5 (MT5)

Setting Stop Loss (SL) and Take Profit (TP) levels in MetaTrader 5 is essential for managing risk and securing profits automatically. Here’s how to configure them when placing trades or after an order is open.

Step 1: Open a New Order Window

• On Desktop: Click New Order from the toolbar or press F9.

• On Mobile: Tap the Quotes screen → Select instrument → Tap Trade.

Step 2: Enter Stop Loss and Take Profit Levels

• In the order window, you’ll see fields for Stop Loss and Take Profit.

• Enter price levels:

  • Stop Loss: The price where your trade will automatically close to limit loss.

  • Take Profit: The price where your trade will close to secure profit.

Example:
If buying EUR/USD at 1.1000, you might set:

• Stop Loss: 1.0980 (20 pips risk)

• Take Profit: 1.1040 (40 pips target)

Step 3: Modify Existing Orders

• On Desktop: Right-click your open trade in the Trade tab, select Modify or Delete Order.

• On Mobile: Tap your position → Choose Modify → Add or adjust SL/TP levels.

Step 4: Confirm and Apply

Click Modify (or Place Order if opening a new trade) to apply changes.

Why Use SL and TP?

• Risk Control: Protect your account from large losses.

• Discipline: Avoid emotional decision-making.

• Automation: Trade even when you’re not watching the charts.

Want to learn more about the MetaTrader 5 Platform? Visit the MetaTrader 5 Platform Page on our website.