Stoploss and take profit are key parameters that help traders manage risk and optimize strategy return. They are useful both in cutting your losses at the right points and closing profits. Most users can't even think of making a strategy without adding them.
At Mudrex, we provide you with a simple one-click tool to add stop-loss take-profit to your strategy.
How to add stop loss/take profit
1. Click on the stop loss block
2. Add the stop loss % where you want to or chose from a variety of different stop losses. You can read more about how Simple, Fibonacci and demark pivot points work here.
3. For take profit, you also need to specify the trailing length.
4. Simply press 'OK' and the setting will get applied!