Take profit (TP) and stop loss (SL) are automated exit orders that close your position when the price reaches a target level. They help you manage risk without watching the market constantly.
What they do
- Take profit — closes your position at a profit when the price reaches your target
- Stop loss — closes your position to cut losses when the price moves against you
Setting TP/SL on a new trade
When placing a new order, toggle the TP/SL section in the trade panel to expand it. You can set:
- Take profit price — the price at which you want to lock in your gains
- Stop loss price — the price at which you want to exit to limit your loss
Both are optional. You can set one, both, or neither.
Adding TP/SL to an existing position
If you already have an open position:
Go to the Positions tab
Open the Positions panel at the bottom of the trade page.
Click the TP/SL button
Each position row has a TP/SL indicator. Click it to open the edit dialog.
Set your levels
Enter your take profit and/or stop loss prices and confirm.
Best practices
- Always set a stop loss — it is your safety net against unexpected moves
- Use a minimum 1:2 risk/reward ratio — if your stop loss is 50awayfromentry,yourtakeprofitshouldbeatleast100 away
- Do not move your stop loss further away — this increases your risk. If anything, tighten it as the trade moves in your favor
- Account for volatility — setting a stop loss too close to your entry may cause you to get stopped out on normal price fluctuations
A good rule of thumb: set your take profit at least 2x the distance of your stop loss. This means you can be wrong more often than you are right and still be profitable overall.
