Set your Stop Loss and Take Profit levels using either absolute price values or pip offsets. This article explains both methods, when to use each, and how they work with MetaTrader and cTrader accounts.
You can set Stop Loss (SL) and Take Profit (TP) levels in two ways: as an absolute price value or as a pip offset from your entry price. Both methods give you precise control over your risk, and you can switch between them at any time in the trade form.
Clear risk management is the foundation of consistent trading. Whether you think in price levels or pip distances, EdgeFlo adapts to how you already manage your trades.
The Two Input Methods
When you open a trade, you can set your Stop Loss and Take Profit using:
- Absolute (price): You specify the exact price level where your SL or TP should trigger (e.g., 1.17500 for EURUSD).
- Pips (offset): You specify how many pips away from your entry price the SL or TP should be placed (e.g., 20 pips).
You can toggle between these two methods using the Absolute and Pips tabs in the trade form.
Note: Setting a Stop Loss is required to auto-calculate your lot size. Setting both Stop Loss and Take Profit allows you to preview your risk-to-reward ratio before placing the trade.
How to Set Stop Loss and Take Profit in Absolute Price
- Open the trade form by clicking the Trade button
- Above the Stop Loss and Take Profit section, select the Absolute tab.
- Enter the exact price level where you want your Stop Loss to trigger in the Stop Loss field.
- Enter the exact price level where you want your Take Profit to trigger in the Take Profit field.
- Review your order details and click Buy or Sell.
The absolute price method is useful when you have identified specific support or resistance levels on your chart and want your SL or TP to trigger at those exact prices.
How to Set Stop Loss and Take Profit in Pips
- Open the trade form by clicking the Trade button
- Above the Stop Loss and Take Profit section, select the Pips tab.
- Enter the number of pips away from your entry price where you want your Stop Loss in the Stop Loss field.
- Enter the number of pips away from your entry price where you want your Take Profit in the Take Profit field.
- Review your order details and click Buy or Sell.
The pips method is useful when your trading strategy is based on fixed risk-to-reward ratios (e.g., 20 pips stop, 40 pips target) or when you manage risk as a percentage of your account using pip-based position sizing.
Note: EdgeFlo automatically converts pip values and absolute monetary amounts based on current market exchange rates.
Tip: If you use a fixed pip-based strategy (e.g., always 15 pips stop, 30 pips target), the Pips method saves time because you do not need to calculate the exact price levels for each trade.
How cTrader Handles Stop Loss and Take Profit
For cTrader accounts, Stop Loss and Take Profit are always calculated as pip offsets from your entry price, even when you enter an absolute price value. This is how cTrader's API works.
When you specify an absolute price in EdgeFlo, the platform calculates the pip offset based on your entry price and sends that offset to cTrader. Because there is a natural delay between when you submit the order and when it executes, the actual execution price may differ slightly from the price you saw when you placed the order. This means your final SL and TP levels may be slightly different from the absolute values you specified.
If you want exact pip distances for cTrader accounts, use the Pips input method. This guarantees your Stop Loss and Take Profit will be placed at the exact pip offset you specified, regardless of price movement during order execution.
Note: MetaTrader accounts accept absolute price values for Stop Loss and Take Profit directly, so both input methods produce identical results. For cTrader accounts, the Pips method is more accurate if you need exact pip distances.
When to Use Absolute vs Pips
| Use Absolute Price When... | Use Pips When... |
|---|---|
| You trade based on support and resistance levels | You use fixed risk-to-reward ratios |
| You want your SL/TP at specific chart levels | You manage risk as a % of account using pips |
| You are trading MetaTrader accounts | You are trading cTrader accounts and need precision |
| You mark exact price levels before entering | You always use the same stop and target distances |
Frequently Asked Questions
Why are my SL and TP levels slightly different from what I entered on cTrader?
cTrader calculates Stop Loss and Take Profit as pip offsets from your entry price. If you entered an absolute price, EdgeFlo converts it to a pip offset. Because there is a delay between order submission and execution, the final execution price may differ slightly, causing your SL and TP to land at slightly different price levels.
Do both input methods work with MetaTrader and cTrader?
Yes. Both Absolute and Pips input methods are available for MetaTrader and cTrader accounts. For MetaTrader, both methods produce identical results. For cTrader, the Pips method is more accurate because cTrader natively uses pip offsets.
What happens if I do not set a Stop Loss or Take Profit?
You can open a trade without setting a Stop Loss or Take Profit by leaving the fields as "not set." You can add or modify these levels after the trade is open in the open positions panel. However, trading without a Stop Loss exposes you to unlimited risk, which is not recommended.
How does EdgeFlo calculate pips for different currency pairs?
EdgeFlo automatically calculates pip values based on the currency pair you are trading. For most pairs (e.g., EURUSD, GBPUSD), one pip is 0.0001. For Japanese yen pairs (e.g., USDJPY, EURJPY), one pip is 0.01.
Related Questions
- How do I modify Stop Loss and Take Profit on an open trade?
- How do I calculate my risk per trade using pips?
- What is the difference between Stop Loss and Trailing Stop?
- How do I set a risk-to-reward ratio in EdgeFlo?
- Why did my Stop Loss not trigger at the exact price I set?
- Can I use the same Stop Loss and Take Profit for all my trades?
- How do I calculate the pip value for my account currency?
- What is the difference between gross profit and net profit?
- How do I set default Stop Loss and Take Profit values?
- Can I set Stop Loss and Take Profit for pending orders?
- How do I use guardrails to enforce Stop Loss rules?
Need More Help?
If you have questions about setting Stop Loss and Take Profit, contact EdgeFlo Support.