Both Stop Loss and Take Profit orders are basically you as a trader telling your broker when to close your trades. A stop-loss is designed to let your broker know how much you are willing to risk with your trade. A take profit is pretty much the exact opposite. It tells your broker how much you are willing to make as a profit with one trade and close it once you’re happy with the amount.

1. Stop Loss and Take
Profit in Forex
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The Forex Secret

2. HELLO!
Stop loss and take profit
Stop loss and take profit forms two important elements of trade
management and is just as important as the analysis one
would do before opening a position. In this article, we present a
brief guide to using stop loss and take profits and also present
a detailed tutorial into how to set the Stops and target levels
using the MT4 trading platform.
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3. Stop loss
Stop loss (SL) or stops is defined as an order that
you tell or send to your broker telling them to limit
the losses on an open position (or trade).
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Take profit (TP) or target price is an order that you tell or send to
your broker informing them to close your position or trade when price
reaches a specified price level in profit. Stop loss and take profit levels
are static in nature. In other words, the orders are triggered when a
security reaches a specified price level.
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Take profit

5. The reason why traders would set a stop loss or target profit levels is
to manage their trades better. Imagine trading without a stop loss,
which could potentially exhaust all your equity. Likewise, imagine not
trading without a target price, which would basically expose your
entire account equity to the market fluctuations.
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Why set stop loss or
target profit?

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