Learn more about it here.Manage your trading risk with TP/SL Take profit (TP) and stop loss (SL) are crucial elements in trading strategy. Be sure to set and adjust your profit targets and stop loss levels as needed. What's Take Profit (TP) and Stop Loss (SL)? Take Profit (TP): a pre-set order that automatically closes your trade when the price reaches a certain profit level. This helps you lock in gains without having to monitor the market constantly.