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What is Stop Loss (SL) and Take Profit (TP) and how to use it?

What is Stop Loss (SL) and Take Profit (TP) and how to use it?

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 ...

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