What are stop loss (S/L) and take profit (T/P)?
Stop loss (S/L) is an order that automatically closes a trade to limit losses. It triggers when the market reaches a certain loss level set by the trader, helping to prevent further losses if prices move against them.
Take profit (T/P) is an order that automatically closes a trade to secure profits. It triggers when the market reaches a predetermined profit level, locking in gains before the market can reverse.
Both S/L and T/P help traders manage their risks and profits effectively.
