Modifying Open Positions in MT4 (Windows)
In MT4, you can add limit orders and stop orders to your open positions, or modify existing orders. There are primarily two ways to make these changes:
・From the Order Placement Window
・Directly on the Chart
Modifying from the Order Placement Window
This method involves using the order placement window to modify open positions. You can access the order placement window mainly in two ways:
・From the Terminal
・Directly on the Chart
From the Terminal Option 1
Right-click on the position you want to modify within the 'Trade' tab of the Terminal and select 'Modify or Cancel Order' to display it.
From the Terminal Option 2
Double-click on the 'Stop Loss' or 'Take Profit' part of the position you want to change within the 'Trade' tab of the Terminal to display it.
How to Display from the Chart
Double-click on the line that represents the position on the chart, or right-click on the line representing the position or the closing order and select 'Modify Order' from the menu that appears.
Enter the changes in the displayed order placement window and click the 'Modify' button to complete the changes. If you wish to cancel an already placed closing order, setting the order price to 0 will cancel it.
How to Modify on the Chart
To modify an existing position on the chart, you need to display the lines indicating positions and orders on the chart.
Select 'Options' from the 'Tools' menu in MT4.
In the displayed options window, check 'Show positions and orders on the chart' within the 'Chart' tab.
Drag from the line representing the position to the desired level to add or modify a Take Profit or Stop Loss. If One-Click Trading is enabled, changes occur immediately;
if disabled, an order screen will appear for confirmation, and you can finalize the changes by clicking the 'Modify' button.
You can also change the level of an already placed closing order by dragging on it.
If you wish to cancel an already placed closing order, right-click on the line representing the closing order on the chart and select 'Cancel S/L (or T/P)'.
