How to Set a Stop-Loss and Take-Profit in MT5 for Gold (Desktop and Mobile)

Every gold trade should have a stop-loss before it is opened or immediately after. In MetaTrader 5 there are three ways to set one. All take less than ten seconds once you know where to click.

Before you start: decide the levels

Work out your stop from where the trade idea is wrong, not from how much you want to lose. Then size the position from that distance with the position size calculator. A take-profit can come from a level, a risk-reward multiple (risk-reward calculator) or both.

Method 1: when opening the order (desktop)

1. Press F9 or click New Order.
2. Choose XAUUSD and the volume.
3. Enter prices in Stop Loss and Take Profit.
4. Click Buy by Market or Sell by Market, or switch the type to a pending order.

Method 2: modify an open position (desktop)

1. Open the Toolbox (Ctrl+T), Trade tab.
2. Right-click the position → Modify or Delete.
3. Enter the new Stop Loss and Take Profit.
4. Click Modify.

Method 3: drag on the chart (desktop)

1. Make sure Show trade levels is enabled (Tools → Options → Charts).
2. Click the open-position line on the chart and drag it up or down to create a stop or target.
3. Drag the stop or target line to move it.

On MT5 mobile

1. Go to the Trade tab.
2. Tap and hold the position → Modify position.
3. Set Stop Loss and Take Profit and tap Modify.

Common errors

Things to know about stops on gold

• A sell stop on a long is triggered by the bid. Spreads widen at the daily rollover and around news; see why gold spreads spike at 5 p.m. New York.
• A stop is not a guaranteed price. In gaps it fills at the next available price; see slippage on gold.
• Stops and targets live on the broker's server: they work even when your platform is closed. Trailing stops in MT5 do not; see trailing stops on gold.

Questions traders ask

Can I set the stop in dollars instead of price? Not natively; MT5 uses price. Convert your dollar risk to a price distance with the position size calculator.

Should I move my stop once the trade is open? Only in the direction that reduces risk, according to a rule you set in advance.

Why did my take-profit not fill when price touched it? A buy position's take-profit fills on the bid; the chart usually shows the bid, but if the ask touched your level and the bid did not, it won't fill.