Short Answer
TradeLocker allows you to add a Stop Loss and Take Profit when opening a trade or at any time while your position is open.
What Is a Stop Loss?
A Stop Loss is a predefined price level that automatically closes your position if the market moves against you.
It helps limit potential losses and is an important part of effective risk management.
What Is a Take Profit?
A Take Profit is a predefined price level that automatically closes your position once your target profit has been reached.
It allows you to lock in gains without needing to monitor the market continuously.
Adding Stop Loss and Take Profit
You can set both values before opening a trade:
Open the trade ticket.
Enter your position size.
Enable the Stop Loss and Take Profit fields.
Enter your desired price levels.
Review your order.
Place your trade.
Modifying an Open Position
To update an existing Stop Loss or Take Profit:
Open the Positions panel.
Select the position you want to modify.
Choose Modify Position.
Update your Stop Loss, Take Profit, or both.
Save your changes.
The new levels will apply immediately.
Removing Stop Loss or Take Profit
If you no longer wish to use either level:
Open the position.
Edit the Stop Loss or Take Profit.
Clear the value.
Save your changes.
Best Practices
Always review your Stop Loss before placing a trade.
Consider setting a Take Profit based on your trading plan.
Avoid changing your Stop Loss impulsively after entering a trade.
Ensure your risk remains within your Evaluation Program’s Trading Rules.
Important
Stop Loss and Take Profit orders are executed based on market conditions.
Rapid market movements may affect the exact execution price.
You’re responsible for managing your positions and complying with all applicable Trading Rules.
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