Categories: Introduction to MQL5

mt4 Take Profit in Pips: Analyzing How to Maximize Gains

MetaTrader 4’s Take Profit in Pips feature allows traders to easily enter a fixed number of pips, or points, for their target profit. When the currency pair reaches the target number, an automatic closing of the order is triggered, locking in profits from a successful trade. The feature can also be used to reduce losses by setting a Take Profit limits at below current prices. Traders can set their desired amount of pips, and adjust it as the market changes, allowing them to keep their previous entry and adjust the trade to improve their chances for success.

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