MetaTrader 4 Iphone - How to Open Trade and set Stop-loss and Take-profit
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Learn all the different ways you can set your Take Profit (TP) and Stop Loss (SL) orders within the MT4 desktop application.
A Stop Loss order is very important and helps you control and minimise risk within any given trade. When a stop loss order is hit, your position is closed.
A Take Profit order set the reward you are looking to get out of your trade and. When a take profit order is hit, your position is closed.
Both these types of orders help you calculate your reward to risk ratio.
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