Guide: Modify positions: Stop Loss / Take Profit on Android
Effectively manage trading capital with Stop Loss & Take Profit
Stop Loss and Take Profit features are an additional feature within MT4 to allow traders to take greater control of their open positions. These features are useful when trading on the go or not in a position to monitor trades - especially in volatile markets.
Stop Loss is designed to limit losses when the direction of a trade goes in the opposite direction of the initial trade. When you choose a Stop Loss amount, your trade will automatically close once the amount set is reached in the market.
Take Profit is a feature where an open position will be automatically closed once the open trade reaches the pre entered target profit line.
- Under Open Trades, select the trade you wish to modify
- Select Modify order
- Adjust the Stop Loss amount +/- symbols
- Select Modify and see confirmation of order
- See SL line within the Modify order screen Please allow a few minutes for the deposit to land in your wallet.
*Once the transaction is completed, you can check your account balance within your EagleFX Dashboard where all Wallet balances are displayed.
- Click the Trade icon at anytime to view open positions