SL, and TP at MT4

How to place an order on MT4 that defines that PL, SL in terms of pips/points rather than price value…
simply, MT4 allows u to enter SL, and TL at the start in terms of price value when the order is kicked off, and opened not before that…
Then you can modify the SL and TP in terms of points…
The crazy thing while I am in a trade ( I am beginner) I find that there is a constraint and limits on ur SL specially , they say it should be at least for example 40 points and this would mean for me loosing my entered margin … so what are the rules for setting the SL, and TP , should it be a certain % of the margin or what…

In very simple words , I don’t care setting orders using market price values rather I would LIKE to Use PIPS ? how can I do this like TL 30 pips, and SL at 20 pips, etcs rather than saying price numbers and killing my self to look at the price level …

also what are the rules/limits on SL and TP ??? specially SL … I am using MT4…thanks

1 Like

you might need a custom indicator for this. i have seen one before where you can simply drag a TP or SL line to where you want it to be. it may have an option to manually input the pips you desire. try searching for trade or order management MT4 indicators.