Managing your Stop Loss and Take Profit (SL&TP) effectively is one of the most important parts of trading.
With TradeLocker’s on-chart trading and built-in SL&TP calculator, you can set, adjust, and manage these levels with ease, directly from the platform or even straight on the chart.
This guide will walk you through the different ways you can set up SL&TP on the chart to stay in control of your trades.
Step 1: Choose your instrument
Select the instrument you want to trade from the available market pairs.
Step 2: Enter your order size
Specify the amount you want to trade in the order panel.
Step 3: Setting SL&TP on the chart
For more flexibility, you can place SL&TP directly on the chart:
- Look to the right side of your chart (next to the price bar) and click the + icon.
2. A menu will appear with options: Alert, Pending, SL, TP.
3. Select SL or TP. A draft line will appear on your chart.
4. Drag the line to your preferred price level.
5. Once ready, hit Buy or Sell to confirm your order.
Editing SL&TP later
If you need to make adjustments:
- Head to your Open Positions tab.
- Select the position and click Edit.
- Drag the price line to your new SL&TP level.
- Don’t forget to confirm the changes to update your trade.
Open the SL&TP calculator
Click the arrow in the top-right corner of the order panel to expand the SL&TP calculator.
With this tool, you can set your Stop Loss and Take Profit in multiple formats, making it easy to manage risk and lock in profits the way that works best for you.
Want to learn how to use the Risk Calculator? Click here for the full guide.
Check out another useful guide on how to calculate risk on TradeLocker.
Help us build the perfect trading platform that prioritizes your needs and preferences. Join our Discord community to meet the TradeLocker team and other traders, discuss upcoming features, and chat with us directly.
