How to Set Up and Edit Stop Loss/Take Profit in Exness

How to Set Up and Edit Stop Loss/Take Profit in Exness

Stop Loss mechanism is designed to protect an investor’s account from unexpected risks while the Take Profit mechanism allows investment profit to be fixed at a certain level. The key to having this is setting up the amount of money that you as an investor are willing to lose (or win).

Let us explore this feature.

How to set up Stop Loss and Take Profit

Before we get started, let us look at the definitions of Stop Loss and Take Profit in brief.

Stop Loss (SL) is an investment equity at which an investor wishes to close his investment in order to stop incurring further losses.

Take Profit (TP) is an investment equity at which an investor wishes to close his investment with a certain amount of profit.

Now let us take a look at how to set up these limits:

Set up SL/TP:

Follow these steps to set up your SL/TP:

  • Open any active investment, then scroll to the bottom and click Add Stop Loss or Add Take Profit under Auto Stop Copying.
  • Set the limits in either USD or %. Click Add.
  • Click Confirm on the next screen to confirm the limits set.

When your equity changes beyond the set level, your investment will be closed.

To edit:

  1. Within any active investment, scroll down to Auto Stop Copying.
  2. Tap the limit you wish to edit - Stop Loss or Take Profit.
  3. Input new parameters, clicking Save when final.

To delete an alert:

  1. Within any active investment, scroll down to Auto Stop Copying.
  2. Tap the X icon on any limits set up.
  3. Tap Delete to confirm the operation.


How it works

  1. SL and TP can be set on any existing active investments.
  2. After your SL and/or TP parameters are set, the app monitors the investment equity, recalculating with every new obtained price tick.
  3. If investment equity reaches or falls below the limit set, the trigger is activated.
  4. The application will then close all orders in that investment and close the investment itself.


Notifications

  1. Once the SL/TP mechanism closes an investment, you will receive a push notification, ‘Investment Equity reached…”. When you tap on the push notification, you will be redirected to the investment.
  2. You can also check these details in the application by clicking on History under Copying Strategies and choosing the investment that was archived. The investment will be marked as Closed automatically for easier reference.


Example

The equity of your investment is USD 1 000.

Setting up Stop Loss or Take Profit in USD:

  • If you want to close the investment when the equity increases to USD 1 500, you should set the Take Profit in USD and enter 1 500 in the field (target equity value). Equity is calculated according to this and will trigger the mechanism to close your investment once your equity rises to this level.
  • If you want to close the investment when the equity decreases to USD 600, you should set the Stop Loss in USD and enter 600 in the field (target equity value). Equity is calculated according to this and will trigger the mechanism to close your investment once your equity falls to this level.

The current equity of your investment is USD 1 000.

Setting up Stop Loss or Take Profit in %:

  • If you want to close the investment when equity increases 10%, you select Take Profit in % and enter 10 in the field (equity value change). We calculate target equity equal to this change and show it to you for you to confirm. In this case it will be USD 1 000 + (10% x USD 1 000) = USD 1 100. When your investment equity reaches USD 1 100 (calculated target equity), your investment will be closed.
  • If you want to close the investment when equity decreases 10%, you select Stop Loss in % and enter 10 in the field (equity value change). We calculate target equity equal to this change and show it to you for you to confirm. In this case it will be USD 1 000 - (10% x USD 1 000) = USD 900. When your investment equity reaches USD 900 (calculated target equity), your investment will be closed.
Note: When you set Stop Loss or Take Profit in % as an equity change, it is calculated from equity of investment at the moment when you start setting this up.

We also have an Alerts feature using which you can monitor the equity changes in your investment according to your liking. Check out our detailed article on this here.

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