BREAKING DOWN 'Take-Profit Order - T/P'.
Apr 08, · Hate to clutter up the forum with such a simple question but it's been a while since I used MT4 and I keep getting this message everytime I want to place a pending order: "Invalid S/L or T/P". S/L=Stop Loss and T/P=Take profit. Stop Loss is the level you set at which your trade will close if price action moves against you. Take Profit is the level you set that your trade will close if price action moves in your favor.
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The difference between the market price and these two points helps define the trade's risk-to-reward ratio. These three stocks are moving in patterns that can't last.
If price continues to move a further 20 pips, then the trailing stop moves another 10 pips in your favor setting your new stop loss order to 1. Trailing stops can be used alongside the take profit order as it can help to make your trade lock in as much pips as you want and as specified by the trailing stop instead of setting a static stop loss order.