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what is SL and TP? Stop losses and take profit levels are used by forex traders to protect them from unnecessary financial risk and also to ensure that profits are taken for successful trades. Stop losses and take profit levels are both orders which are placed in the market to close an open position.
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Although it might seem obvious, the way you include both profit-taking and stop-loss in your strategy will determine the fate of your trade. Let’s look at both options: Exiting a forex trade via take-profit orders : A take-profit order, also known as T/P, is a limit order that specifies the exact price, or the specific profit level at which ...
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The process of setting a Stop Loss (SL) and a Take Profit (TP) price target is one of the most important processes a retail forex trader will engage in. Markets are not always predictable, and ...
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The difference is usually about 5 pips and perhaps more. To overcome this issue Live-forex-signals.com tries to average quotes from different brokers and provides average results. Nevertheless it's possible that your trade reaches entry/take-profit/stop-loss level when Live-forex-signals.com trade doesn't and vice versa due to quote difference.
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