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How do I modify or close an order in MT4? (Windows)

Modify a pending order

To modify an order, you can either:

  1. Double-click on the order in the ‘Trade’ tab of the ‘Toolbox’ window, OR
  2. 2. Right-click on the instrument, then select the ‘Modify’ or ‘Delete’ option.

When you are in the Order window, you can modify order details, such as the order volume (lot size), and set a Stop Loss or Take Profit. Please note: If a Stop Loss or Take Profit is set too close to the current price, a notification message “Invalid S/L or T/P” will be shown.

After making your desired changes, click the ‘Modify’ button to apply them.

Closing or Deleting an Order

You can close a market order or delete a pending order by clicking the grey Close (X) button located next to each order in the right-hand side of the ‘Trade’ tab of the ‘Terminal’ window.

Please note: This functionality will be available only if the One Click Trading Tool is enabled.

To close an open position at the market price, double-click on the position in the ‘Trade’ tab of the ‘Toolbox’ window. A dialog box will appear. In the ‘Type’ field, select ‘Market Execution’, then click the yellow ‘Close’ button to close the position at the current price.

For a detailed guide on how to place, modify, and close orders, please watch the video below.

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