Risk management is a fundamental principle in financial trading. Using Take Profit (TP) and Stop Loss (SL) allows you to automatically manage your trades based on your profit targets and risk tolerance.
Take Profit is the price level at which your trade is automatically closed once the market reaches it, realizing the profit from the trade.
Stop Loss is the price level at which your trade is automatically closed if the market moves against your prediction, helping to limit potential losses.
The most effective and recommended way to set TP and SL is to specify these values before executing a trade, directly in the order form (+).
For detailed instructions on opening a trade on Trendo, refer to {Trading Guide}.
In the order form, after setting the trade volume:
Enter your desired price in the Stop Loss field.
Enter your target price in the Take Profit field.
If you didn’t set TP and SL while placing the order, you can add or edit them using one of the following methods:
Go to Open Trades.
Select the trade you want and click Edit.
Enter or modify the TP and SL values and save the changes.
Open the chart of the desired asset.
Long-press on the trade price line.
Adjust the lines to set your Take Profit and Stop Loss levels.
This method is especially suitable for quick trade management, particularly in volatile markets.
Slippage: Under certain market conditions, the execution price may differ from the specified TP or SL price. This phenomenon is known as slippage and may affect TP and SL execution.
Risk Management Tools: It is recommended to always use TP and SL to manage the risk of your trades.
Edit or Delete: After setting TP and SL, you can still edit or remove these values.
Pending Orders: You can also set TP and SL for pending orders. These values will only be applied once the pending order is triggered.
Order Execution Error: If TP or SL values are not set correctly, the order may encounter an error and cannot be placed.
For further assistance, you can contact Trendo support.