11/03/2023
3 basic things you must understand before trading signals 👇🏽
Stop Loss (SL), Take Profit (TP), and Breakeven (BE).
SL is a price limit set by a trader, which, when reached, automatically closes an open position to prevent further losses. Its purpose is to indicate to the broker the amount the trader is willing to risk with the trade.
TP, on the other hand, automatically closes a position once a profit target is met to lock in profits.
Finally, BE is an element that creates a condition when the price returns to the entry level of an order after achieving a target of pips in the direction of the market.
To secure profits and minimize loss, traders can modify the SL to the entry point when the order is running profit.
