Can traders set a stop loss and a take profit?

Protective orders are central to prop trading because they keep losses within the account's limits.

Setting them

• On the order ticket when placing a market or pending order.
• Later, by modifying an open position or a pending order.

How they execute

• Long positions: stop loss and take profit trigger on the bid.
• Short positions: they trigger on the ask.
• Gaps: if the market jumps past the level, the position closes at the first live price beyond it.

Rules that involve stops

• Mandatory stop loss: every order must carry one, and it cannot be removed from an open position.
• Maximum risk per trade: the loss at the stop loss may not exceed a set percentage of the starting balance; orders without a stop are refused because their risk cannot be measured.

Both are in the advanced catalogue on Basic and Growth.

Why traders should use them

Stops protect the daily loss limit. The dashboard shows headroom live, and a stop placed inside that headroom stops a single trade from ending the account.