How to set Stop Loss in MetaTrader?

Set Stop Loss in MT4

If you have an open position. In the terminal, you see Stop Loss and Take Profit set to 0.

You can right-click over the trade in the terminal and go to Modify or Delete Order. No worries, you won’t delete the order just click on that and you will see the boxes.

Here you can use the arrows to increase it but obviously, it will take you ages to reach 1.18 or something so what you can do is just mark it and then type the value, for example, 1.1820. And if you click on Modify you will see that my Stop Loss is set.

Now here I have this horizontal line which I will remove, so you can see clearly where the Stop Loss is.

The red dashed line is the Stop Loss level.

So this is how simple it is to set Stop Loss in MetaTrader 4. All you need to do is to choose the level at which you want to place the Stop Loss. In this case, if the price hits the Stop Loss we will be on the profit and if I put the mouse on it you will see that it says profit $40 and below we can see Pips and if we put the Stop Loss at 1.1820 we will have the profit of $40 or the difference is 40 Pips.

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