Stop Loss and Take Profit orders are essential risk management tools that help protect your trading positions. Knowing how to modify or remove these orders is an important skill for every trader using the FXTRADING.com Trader platforms.
Modifying Stop Loss or Take Profit in MT4
Method 1: Using the Terminal Window
Open the "Terminal" window (press Ctrl+T if not visible)
Go to the "Trade" tab
Find the position you want to modify
Double-click with the left mouse button in the fields of "Stop Loss" or "Take Profit" of the opened position line
Enter the new Stop Loss or Take Profit values in the dialog box that appears
Click the "Modify" button to confirm your changes
Method 2: Using the Context Menu
Open the "Terminal" window (press Ctrl+T if not visible)
Go to the "Trade" tab
Right-click on the position you want to modify
Select "Modify or Delete Order" from the context menu
Enter the new Stop Loss or Take Profit values
Click the "Modify" button to save your changes
Method 3: From the Chart
Locate the position marker on your chart (horizontal lines showing SL/TP levels)
Click and drag the Stop Loss or Take Profit line to a new price level
Confirm the modification in the dialog box that appears
Modifying Stop Loss or Take Profit in MT5
Method 1: Using the Toolbox
Open the "Toolbox" window (press Ctrl+T if not visible)
Go to the "Trade" tab
Right-click on the position you want to modify
Select "Modify or Delete" from the context menu
Enter the new Stop Loss or Take Profit values
Click "Modify" to confirm your changes
Method 2: Using the Position Line
Open the "Toolbox" window (press Ctrl+T if not visible)
Go to the "Trade" tab
Double-click on the Stop Loss or Take Profit field of the position you want to modify
Enter the new values in the dialog box
Click "Modify" to save your changes
Method 3: From the Chart
Locate the position marker on your chart (horizontal lines showing SL/TP levels)
Click and drag the Stop Loss or Take Profit line to a new price level
Confirm the modification in the dialog box that appears
Removing Stop Loss or Take Profit Orders
To completely remove a Stop Loss or Take Profit order:
Follow any of the methods above to access the modification dialog
Delete the values in the Stop Loss or Take Profit fields (leave them blank)
Click "Modify" to confirm the removal
Important Tips
Always double-check your new Stop Loss and Take Profit levels before confirming
Be aware of the minimum distance required between current price and SL/TP levels
Consider market volatility when setting or modifying these orders
Remember that modifying orders during volatile market conditions may result in slippage
For additional assistance with managing your orders, please contact our Live Chat support team through your Client Portal.