Modifying and Canceling Orders in MT5 (Mac)
In MT5, you can modify the levels of pending limit and stop orders, add, adjust, or delete associated closing limit and stop orders.
You can also cancel the orders entirely.
There are mainly two ways to change or cancel limit and stop orders:
・From the Order Placement Window
・From the Chart
How to Change from the Order Placement Window
This method involves displaying the order placement window where you can change your existing positions.
You can display the order placement window mainly in two ways:
・From the Terminal
・From the Chart
Displaying from the Terminal①
Right-click on the order you want to change within the 'Trade' tab of the Toolbox, and select 'Modify or Cancel Order' from the menu that appears.
Displaying from the Terminal②
Double-click on the order you want to change within the 'Trade' tab of the Toolbox to display it.
Displaying from the Chart
Double-click on the line indicating the position or the limit/stop order on the chart, or right-click and select 'Modify' from the menu that appears.
Enter the modifications in the displayed order placement window and click the 'Modify' button to complete the changes. To cancel an already specified closing order, setting the order price to 0 will cancel it.
Clicking 'Cancel' will cancel the limit or stop order itself.
Additionally, clicking the '×' button at the far right of the 'Trade' tab in the Toolbox will cancel the order.
※When one-click trading is ON, the order is canceled immediately, and when it is OFF, the order screen is displayed, and clicking 'Delete' will complete the cancellation.
How to Change on the Chart
To modify pending limit or stop orders on the chart, you need to display lines indicating positions and orders on the chart.
Select 'Options' from the 'Tools' menu in MT5.
In the displayed options window, check 'Show positions and orders on the chart' in the 'Chart' tab. Also, make sure the dropdown is set to enable order modification by dragging.
Drag from the line indicating the limit or stop order to the desired level to change the price. If there is an associated order, it will move the same distance.
※When one-click trading is ON, the order is modified immediately, and when it is OFF, the order screen is displayed, and clicking 'Modify Order' will complete the changes.
Similarly, for associated closing orders, dragging on the line indicating the associated order will only change the associated order.
To cancel a limit or stop order on the chart, right-click on the line indicating the order and select 'Cancel Order' from the menu. To cancel only an associated closing order, click 'Cancel T/P' or 'Cancel S/L' on the respective line.
※When one-click trading is ON, the cancellation is executed immediately, and when it is OFF, the order screen is displayed, and clicking 'Cancel Order' (or 'Modify Order' for associated orders) will execute the cancellation.
