How to Set Stop Loss and Take Profit on DXtrade | Hola Prime

Introduction

Protecting your capital and locking in gains are the most critical aspects of risk management. The DXtrade platform provides multiple ways to set Stop Loss (SL) and Take Profit (TP) orders, whether you are entering a new trade or looking to automate your strategy for high-speed execution. This lesson covers how to manually set these protection orders, the various units you can use for calculation, and how to preconfigure your settings to ensure every trade is protected instantly.

Setting Protection Orders during Entry

The most common way to secure a trade is by setting your protection levels at the moment of entry. When you open an order window from the Default Watchlist:

Select the "Protection Orders" section within the window.
For a Buy trade, your Stop Loss must be placed below the current market price, while your Take Profit is placed above it.
For a Sell trade, these levels are reversed.

Customizing Units for SL and TP

DXtrade offers flexibility in how you calculate and view your risk. You can set and view your protection levels using several different units:

Price: The exact market price at which the order should trigger.
Pips: The distance from your entry price in pips.
Projected Loss/Profit: The specific monetary amount you stand to lose or gain.
Percentage: A calculated percentage of your total account balance.

Managing Active Protection Orders

Once a trade is live, you can monitor and manage your SL and TP levels in two primary ways:

Positions Tab: Navigate to the bottom of the platform to see your active trades and their associated protection limits.
On-Chart Visualization: Your SL and TP levels are visible directly on the price chart as horizontal lines, allowing you to visually track how close the price is to your targets or exit points.

Preconfiguring Stop Loss and Take Profit

To save time and ensure consistency, you can set "preconfigured" levels for specific instruments:

Right-Click Method: Right-click an instrument in the watchlist and select "Preconfigured SL or TP".
Icon Method: Click the shield/limit symbol on the secondary watchlist on the right side of the platform.
In the pop-up window, enter your preferred values in Pips (e.g., a standard 15-pip stop loss) and click "Apply".

Automating Risk with One-Click Trading

The primary benefit of preconfiguring your levels is realized when using One-Click Trading. Once you have applied your predefined SL and TP settings, any trade placed with a single click will automatically have those protection orders attached. This ensures that even your fastest market entries are immediately secured according to your trading plan, removing the need for manual adjustment during volatile market moves.