One of the most important parts of trading is risk management. Without proper Take Profit (TP) and Stop Loss (SL) levels, trades can quickly turn into big losses. Fortunately, TradingView makes it easy to set both.
Here’s a simple guide:
1. What is Stop Loss (SL) and Take Profit (TP)?
- Stop Loss (SL): An automatic order to close a trade when the price moves against you. It protects your account from large losses.
- Take Profit (TP): An automatic order to close a trade when the price reaches your target level, locking in profits.
2. How to Place Stop Loss and Take Profit in TradingView
- Open a chart and select your trading pair/asset.
- Click the “+” (Buy/Sell) button or right-click on the chart to open an order panel.
- Choose your entry price.
- Enter your Stop Loss level (below entry for Buy orders, above entry for Sell orders).
- Enter your Take Profit level (above entry for Buy orders, below entry for Sell orders).
- Confirm the trade.
TradingView will now automatically trigger your TP or SL when price hits those levels.
3. How to Adjust Stop Loss and Take Profit
- Drag the SL/TP lines directly on the chart to change levels.
- Or, edit values in the order panel.
4. Why Use TP & SL on TradingView?
- Protects your capital from unexpected market moves.
- Ensures you stick to your trading plan.
- Helps remove emotional decision-making.
✅ With Take Profit and Stop Loss in TradingView, you can trade with confidence and better manage your risk.
