How to set stop loss and take profits

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. :blush:

Do you mean how to set the actual price for TP and SL or how to do it using your trading platform? :hushed: