Stop Loss (SL) protects you from excessive losses.
Take Profit (TP) automatically closes your trade in profit.
Steps
- Open MT5.
- Right-click your open trade.
- Select Modify or Delete Order.
- Enter SL and TP values.
- Click Modify.
FAQ
Q: Why can’t I set SL/TP close to the market price?
A: Because brokers require a minimum distance based on spread.