Exness TP and SL

Take Profit (TP)
Definition: A predetermined price level where a trade will automatically close to lock in profit.
Purpose: Helps traders to lock in gains when the market reaches a favorable level.
Example: You bought EUR/USD at 1.1000 and set TP at 1.1100; when the price hits 1.1100, the trade will close automatically to secure your profit.
Stop Loss (SL)
Definition: A predetermined price level where a trade will automatically close to limit losses.
Purpose: Prevents the trader from significant losses if the market happens to go against his trade.
Example: If you bought EUR/USD at 1.1000 and you placed an SL at 1.0900, then the trade will be automatically closed if the price falls to 1.0900. Your loss will then be capped.
Key Points
Automation: Both TP and SL are set before, hence they work even if you are not following the market.
Risk Management: They keep the trades disciplined as they prevent emotional decision-making.
Customization: the levels of TP and SL depend on the trading strategy, your risk tolerance and market conditions.