Hi guys, newbie here from Kenya. I recently started learning about forex and I’m a bit confused with all this information. When placing an order and let’s say I want to buy to I set my stop loss and take profit from the ask price or how’s it done?
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Welcome to babypips @Hope_g. Are you going through the school of pips here? That might help you with a more detailed answer to your question. AFAIK, stop losses and take profit targets should be determined by the trading strategy you’re using.
Do you mean how to set the actual price for TP and SL or how to do it using your trading platform?