Forex SL and TP Time base

Take Profit (TP)

• Definition: A pre-set price level where a trade will automatically close to secure a profit.
• Purpose: Helps traders lock in gains when the market reaches a favorable level.
• Example: If you buy EUR/USD at 1.1000 and set a TP at 1.1100, the trade will close automatically once the price hits 1.1100, securing your profit.

Stop Loss (SL)

• Definition: A pre-set price level where a trade will automatically close to limit losses.
• Purpose: Protects traders from excessive losses if the market moves against their position.
• Example: If you buy EUR/USD at 1.1000 and set an SL at 1.0900, the trade will close automatically if the price drops to 1.0900, limiting your loss.