How to Change the Account TP and SL

Introduction

In this guide, we will discuss how to adjust the Take Profit (TP) and Stop Loss (SL) for your trading account using three different methods. This ensures that you can effectively manage your risk and reward based on your trading strategy.

Method 1: Adjusting TP and SL When Downloading a Strategy

1. Download the Strategy: Navigate to the leaderboard and select the strategy you wish to use (e.g., 5S Hall). Click on the download button.
2. Adjust Settings:
• Max Loss: You can adjust the maximum loss percentage directly in the settings. For instance, if you are trading with E8, set your account stop loss to 8%. If it's a fixed file, you might choose 10%.
• Profit Target: Similarly, adjust the profit target from 8% to 10% as needed.
3. Launch Strategy: Once you have made your adjustments, download the file and launch the strategy by clicking Set or Launch Strategy.
   
   

Method 2: Adjusting TP and SL on MT5 or VPS

1. Access Your Strategy File: If you already have the strategy file on your MT5 platform or VPS, double-click the strategy file to open it.
2. Modify Settings:
• Account Take Profit: Locate the account take profit setting. It may be set to a value like 108,000. Change it to your desired amount, such as 110,000.
• Account Stop Loss: Similarly, find the account stop loss setting, currently at 90,000, and adjust it to 92,000 or another value.
3. Save Your Changes: After making your adjustments, click on File and then Save to ensure that your new settings are preserved.
   
   

Method 3: Adjusting TP and SL While the Account is Running

1. Access MT5: If your account is already running and you want to change the settings directly in MT5, locate the graduation cap icon in the top right corner of the platform and double-click it.
2. Check Strategy: Note that this method is for a single strategy. If you are using the Strategy Randomizer or multiple strategies, the process may differ.
3. Modify TP and SL:
• Account TP: Scroll down to the account TP setting. Change the value as desired (e.g., from 100,000 to 105,000 or 110,000).
• Account SL: Find the current stop loss and change it to your preferred value (e.g., 92,000).
4. Confirm Changes: Click OK to confirm your changes. This adjustment will apply to all trades taken for the duration of your challenge.
   
   

Conclusion

Adjusting your account's Take Profit and Stop Loss is essential for effective risk management. By following these three methods, you can easily customize your settings whether you’re downloading a strategy or making changes to an already running account. Make sure to adjust these settings based on your trading goals and strategies for optimal performance.