Question about Take profit Stop loss in MT4

Hi, I don’t know what exactly is word for what i want is so i try to explain.

If im in a trade and it was buy position at 1.29000 my target profit is 1.29100 and the trade is all ready in profit but i want to wait a little longer maybe until 1.29200 Is there a (stop loss) but in profit so im safe if the price drops down to 1.29100. I think it’s traling stop but im not sure. What is this stopp loss in profit called and how can i activate it. Sorry guys for my english. And thank you :slight_smile:

Trailing stop for MT4 is located at the bottom of your screen in the terminal, right click on the headings and you’ll see it there. There are a couple of good utube video’s on how to use it.

Thank you for the information. Is there another setup that i can use to place the take profit when my target is reached but not a trailing stop, It will be a fixed take profit (my target is reached but i want to see if the price is continuing to go in my favor but if the price retrace back i still have my original profit target) ??? sorry if i sound confusing.

Maybe I misunderstand what you are asking for, but it sounds like a regular stop loss. I use stop loss orders to close trades for profits all the time. Once you are profitable and have the pips you like just adjust your stop loss so have lock in guaranteed profits while you remain in the trade.

No i cannot place a take profit if the price is already heading in the direction i wanted hence making profit… you can only place a stop loss when you’r losing. In mt4 the only way i know is the trailing stop. but i don’t like it i want an indicator or something that allows me to place a take profit where i want so i the price retrace back i will at least have my target profit.

I would review SL, as others have suggested, this is in line with what we all do, to lock in profits. Just review online videos, google it and review the same, good luck.

Makes no sense to me. While I agree that MT4 may be the worst trading platform out there you can place a SL to lock in profits as you wish. I have one MT4 account of my own and can do that without problems and regardless of which broker you trade with the MT4 platform is a third-party trading platform and you should be able to do that as well (unless you broker seriously is messing with you which would be the first time I hear about it when it comes to placing a SL in order to lock in profits).