What is Stop-loss (S/L) and Take-profit (T/P)?
A «Stop-loss» is an order, which can be put either when you a position, or after it is already opened. The idea of this order is to minimize losses. When you put a S/L, you order to close the order on a fixed quote level, and prevent further losses. If you have a Buy order, the S/L will always be under the open price. If you have a Sell order, the S/L will always be above the open price. . A «Take-profit» is basically the same, but it fixes your profit. When you put a T/P, you order to close the order on a fixed quote level, and fix your profit. If you have a Buy order, the T/P will always be above the open price. If you have a Sell order, the T/P will always be under the open price.
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