What does SL and TP mean in trading?

A stop loss (SL) level is the predetermined price of an asset, set below the current price, at which the position gets closed in order to limit an investor’s loss on this position. Conversely, a take profit (TP) level is a preset price at which traders close a profitable position.

What are SL & TP levels?

It's based on Fibonacci numbers, and traders use these levels to set Stop Loss (SL) and Take Profit (TP) orders. Trendlines: Trendlines play a significant role in determining stop loss and take profit targets. Traders position trendlines at the high points of price swings to better visualize potential price ranges.

How TP/SL works?

When using, you need to set the trigger price of the TP and SL order. When the current price reaches the trigger price, the system will close your position with a market order to take profit or stop loss in time. Next, let’s see how TP/SL can help you solve the above problems.

What is advanced TP/SL?

Advanced TP/SL allows users to set the TP/SL [Trigger Price] by entering the percentage [Gain] or [Loss] expected. It also helps set up TP/SL prices based on the [Last Price] or [Mark Price] and displays the estimated profit and loss for Take-Profit and Stop-Loss orders. 2. Which types of orders support the TP/SL function?