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How to Set Stop Loss and Take Profit on Match Trader

Introduction

This guide will teach you how to set and adjust Stop Loss and Take Profit levels effectively on the Match Trader platform. These essential tools help you manage risk and lock in profits with precision. By the end of this lesson, you’ll know how to set these levels while placing a trade and make real-time adjustments to improve your trading strategy.

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1. Introduction to Stop Loss and Take Profit

  • Stop Loss (SL): Automatically closes your trade when the market moves against you to limit your losses.
  • Take Profit (TP): Automatically closes your trade when the market reaches a desired level of profit.
  • Setting SL and TP levels ensures that you control your risks and lock in profits, even if you can’t monitor the market constantly. ​

2. Opening a Trade

Before setting Stop Loss and Take Profit levels, you need to open a trade.

Navigating the Instrument Window

  1. Open the Match Trader platform.
  2. Select an instrument from the Market Watch or your favorites list.
  3. Click Buy or Sell to open the trade window.

Selecting Lot Sizes

  • In the trade window, enter your lot size to define the volume of your trade.
  • A higher lot size increases potential profit but also raises the risk, so choose carefully.

3. Setting Stop Loss and Take Profit

Using the Plus Icon

  • In the trade window, locate the Stop Loss and Take Profit fields.
  • Use the plus (+) or minus (-) icons to adjust SL and TP levels incrementally.
  • Observe how the values update dynamically as you adjust.

Entering Specific Values

  1. Instead of using the plus icon, you can manually type exact SL and TP values.
  2. Use key price levels or percentages that align with your trading strategy.

Making Real-Time Adjustments from Charts

  1. Open the chart for your active trade.
  2. Locate the SL and TP lines on the chart.
  3. Drag these lines up or down to modify your levels visually.
  4. Confirm changes when prompted.

4. Tips for Managing Your Trades with Precision

  • Set Levels When Placing the Trade: Define your SL and TP right away to avoid potential mistakes later.
  • Use a Risk-Reward Ratio: Aim for a positive ratio (e.g., 1:2) to ensure your profits outweigh your risks over time.
  • Adjust Levels as the Market Changes: If the market moves in your favor, you can update SL and TP levels to lock in profits or reduce risks.
  • Avoid Emotional Decisions: Always rely on your trading plan when adjusting SL and TP.

5. Conclusion

Stop Loss and Take Profit levels are critical for protecting your investments and streamlining your trading strategy. By using Match Trader’s tools—like the plus icon, specific value inputs, and chart-based adjustments—you can set these levels with ease and confidence. Regularly reviewing and optimizing your SL and TP will help you stay on track and minimize risks.

Please note that all accounts we provide to our clients are demo accounts with virtual funds. All trading happens in a simulated environment only. For more information, please visit our FAQs section.