Forex Instant TP and SL

Take Profit (TP)
Definition: A pre-established price level at which the trade automatically closes to assure profit.
Purpose: Protects a trader’s gain since it assists in locking earnings whenever the market reaches a more favorable price level.
Examples: Buy EUR/USD with 1.1000, with a TP ordered at 1.1100; your trade will immediately close upon reaching 1.1100, assuring profit.
Stop Loss (SL)
Definition: This is an established price level where one would lose less when, after triggering, a loss, it automatically closes trade.
Purpose: Protects the trader from excessive loss when the market moves in his/her unfavorable direction.
Example: If you sell EUR/USD at 1.1000 and enter SL at 1.0900, the trade will close automatically if the price moves down to 1.0900, limiting the trader’s loss.