How to set stop loss and take profit levels in cTrader

Hey guys, Vladimir here from Home Trader Club. In this video, I want to share with you the cTrader trading platform, and to make it even better, I will be preparing a playlist, a series of videos where I will be presenting the cTrader platform and we will go on every video by different subject breaking down a very specific topic. So why am I doing that? So the, the story behind all that, recently I was exposed to cTrader. Now those of you who follow me for a while know that I am, or I was for a long, long time, big fan of MetaTraders. My love with MetaTraders started back then, like over a decade ago, and majority of my tools are designed for MetaTraders, if it's 4 or MT5, so it's very hard to move me from the MetaTraders. However, I was exposed to cTrader recently and I started to explore this platform and all its functionality in the simple mode and the advanced mode, and I have to say I love it. I absolutely love it. Now, there are many great platforms from my point of view. The MetaTraders I mentioned before are among them. TradingView, which has its own army and its own followers, but in terms of professional trading platform with execution and with safe execution, cTrader, from my point of view, the way I see that, is in a totally level of its own. And there are many reasons why, mainly because cTrader, first of all, they work with the most reputable brokers, but second, they do not have any hidden plugins, they do not have any frozen quotes or requotes, what we call stuff like that. They have very specific market range protection in terms of Pips Edge and tight execution and many more other features. And from my point of view, one of the greatest, maybe, features they have, it's a built-in risk management system. Which is absolutely crucial for successful trading. I just noticed that when I said crucial, it was a very serious accent of mine, right? So jokes aside, in this video I would be sharing the execution of trades and how we do actually set the stop loss and take profit in the platform. Under specific limits, under very specific terms. Okay, so let's begin. You can see now on the screen, this is the cTrader platform. Now, this is a test account I just registered with simply so I can present you very simply everything that happens here. You can see Here you can of course open their account. You can also open account with broker or you can also open account directly with cTrader with your Gmail. Many, many great options, simplicity. Now the design is cool, looks professional, acts professional, to be honest. That's another reason why I love it so much. So let's break down before the stop loss and take profit a little bit overview. How it is all behaving. So this is the chart. You can control it fully how you want it to look like right here, right button on your mouse. Uh, you click on that and here you can choose the chart type. You can choose the period. I know many of you guys love the different periods, so it has the standard ones. And look at that, amazing. Breakdown. 2 minutes, 3 minutes, 4 minutes, 5 minutes, and so on and so on. Day, 2 days, lots of great time frames for analysis. Um, great comfort, of course. You have here viewing options. What do you like to see on the chart? Do you want to see positions, orders? Do you want to see the bid price and the ask price? Everything you want. Grid, yes, no. Now I like personally period separators, which simply means every day Now here you can of course also include tick volume and deal map. You can make here also targets if you work with, of course, and so on and so on. You can include indicators directly from here. If it's, for example, I love the MACD as you know, so I go with default and voilà. Here is my MACD. Of course, you can simply remove that. You have full control here. Now, scrolling back and forth, you have the option initially when you start, make it horizontal or vertical scroll down, or you can just click here on the, on the side quotes, and while you hold your mouse, move up and down. To zoom in or out. Double-click on the quotes here and it is back to normal. Okay, so again, full control, and that's from my point of view phenomenal. Here on the peak, you are able to choose directly the time as well, and of course the zone. You can also add another one, let's say the EUR/USD, for example. Now, this is a very important part. As you can see here, It comes with built-in logo. Now, the way to do it is simply go in the background, on the right-click once again, you go to the background image and you simply make none. Okay, very useful, very friendly. Or there is another way. You can go to the template of your choices, create it once, go to template, save template, let's say Vlad. 1. Okay, that's it. Now if I go to the other chart, I go to the templates, Vlad 1, and voilà, it's all here for me. Okay, simply classical. I want to increase the chart, I can make it click. You saw the where I clicked it, right? And it is as a separate chart for me which I can work with for full comfort. So you can simply decide what to do with that. You can work on that separately, of course, minimize that, and yet you can access it any single time you want. You can literally control it as of your comfort. At the moment you don't need that, you want to stay with the one chart you had before, no problemos, you go back in full control once again. So this is the very basic on how we deal with the charts. Of course, you have here the symbols where you can also find it here. You can create your own watchlist and then control that directly from the platform by different watchlists you want to show. You can break it down to euro pairs or forex, commodities, cryptos, and so on and so on, indices, right? So this is basically about the, the very basic welcome to the platform itself. Now I want to show you how do we place a trade right on the platform. And of course, as the subject of this video suggests, how do we set stop loss and take profit where we respect the risk management directly from inside the platform while placing the stop loss and the take profit? Okay, so I can go here with the new order. We can click F 9 on the keyboard or right button on the mouse and then place new order as well. Of course, there are also the 2 buttons here in case you want to trade straight, uh, trade without specific, uh, stop loss, take profit, but just shoot directly buy or sell quick. Okay, which is also very, uh, convenient, of course. For those who want the one-touch. If you don't use the one-touch, I suggest you go to the menu, right button on mouse, and then in the viewing options, I would recommend, of course, again, if you don't use that, you remove the quick trade buttons, okay, and then it will not be there for you. So again, full comfort, very easy. Of course, here you have all the tools you need to draw with. You have the trend line if you want to connect trend line, and basically everything else that you need directly from here. Fibonacci levels, of course you have other tools, you have the rectangles in case you want to put your stuff there. Again, full comfort directly from the menu here. Now let's talk about the stop loss, take profit. So we'll go to the one new order. Now one thing I want to pay attention to, uh, so, uh, this is a test account with $1K only, okay, which means of course my— I cannot trade here like huge lots, okay. But again, this is just for the presentation, uh, so, uh, so you understand how it works. Uh, here you decide about the volume. Okay, so because it's $1K account, 1 lot would be too much for me, which means I'll be using leverage of 1:100, way too much. So I'll be trading, for example, with 0.1 lot. Okay, now if I don't click stop loss, take profit here, it will basically be doing nothing. I'll just shoot buy or sell as is. I can protect the mark range Which is the maximum deviation from the price you see on the platform and where the order could be filled. Okay, if you go with very little market range, it will protect you that there will be no— because you know what, when the market is executed, when the trade is executed, it's not going to be on the specific level you are asking, uh, every single time. Most of the times, yes, because Forex is so fluent market, right? But there could be also some deviation on the price, and this market range protects you from that, which is very important. Now, if you go to the stop loss and you did your analysis, for example, right, let's say I want to go long, buy just for the example, and I want to protect 120, below 128. So 17, which is the bottom after the gap. Let's say 128, 128.15. So you can see it instantly gives me the estimated balance and risk. It shows me in one shot how much am I risking per this trade. Okay, now if this is too much, of course, and I want to limit that to, let's say, 1%, I go 0.01. For example, and now I am within the 1% risk. Okay, so the control you have is directly from here. You choose the volume and you see how much you are going to risk according to the stop loss you actually asked. You have the option, of course, to trail stop loss here, but I'll cover that in some, uh, different video. Okay, and of course you can set up that profit as well. And you can directly control it from here, as you can see, okay, from the chart, or you can input the price you want. So I'll want, for example, let's go to take profit to here, that's 1.3020, which is about this peak, right? Let's take it to this zone. Okay, I'm not analyzing anything, just showing you how you control that, yeah. And you can, of course, here, so you can see the same thing as you can see on the chart, right? This is basically your chart, the minimum, minimal chart for— so you can see the same thing. Okay, very convenient, very useful. And you can see the take profit, so you know also what to pay attention to. You know how much is your dynamic take profit you are asking and the stop loss, and you know the risk-reward ratio Right? Risk-reward ratio, you can see how much the profit is bigger than your risk, like 1 to 1.5 in that case. You can also see that by the numbers or estimated profit and loss, of course excluding the swap because the platform cannot know in advance how long will you actually hold the trade. So again, Beautiful, very, very, very useful. And this is how you simply control that. So if you want some comment here, for example, test buy, okay, you can just put it here in the comments, place order, and voilà, my order is there. So on the bottom here, you can see I have this terminal where it gives me all the information About my trade. Okay, simply classical, and again, easily controlled here with. Ah, look at that! We're already making money. Yoo-hoo! Just kidding, of course. So it gives you the easy control from that platform with the essential. Estimation of your risk target, risk reward ratio, and easy control. Why it's crucial? Because especially for the beginners, yeah, more advanced traders already know to control their risk better, but for the beginners especially, it's too easy, too easy to go and trade numbers which are beyond the level of our control. I see traders with like, for example. $1,000 are doing 0.5 or 0.3, going 100 pips stop loss and risking like 20-30% of their balance. Why? Why? That's not professional risk management. And mainly because they do not understand. Okay, so this way you have full control right from the platform. Absolutely Fantastic. Okay, so design the way you want to see your charts and then get this control directly there. Now take a look what you have here. You can instantly go in a reverse position for those who love to go, um, with sort of quick hedge and so on, or you can double the position. Okay, so I have already 0.001, I want to double that, I click on that. Boom, it becomes 002. I have 2 orders in play. Now what to do here when you want to control your trade? Basically double-click on the trade, it opens up the window and you have the ability to control how much do you want to trade, if at all. Okay, you can go buy, you can go sell and change direction. All happens instantly within that zone. Okay, so I close that. Back, okay, if I want, need or not. And again, everything happens from inside that. You don't want that, you take the terminal down and you let it work, okay? So this is how we actually execute trades quickly. We have— remember, you have here the buttons if you want to bring it back You— where is that— the viewing position, quick trade buttons. If you want to instantly shoot a trade, okay, you choose your lots, buy, sell, and then you will figure out the stop loss, take profit. And if you want to make a trade with your professional risk management control, then you go new order, and with this window execute it as you want. Once again, stop loss, which you can control here, of course, easily. Uh, take profit, which you can control here easily, right? Um, you, you, you see the percentage, you choose the right volume for you, voilà, it's there for you. Okay, and then of course inside the terminal you have the full control with the positions, um, you want to see. Okay, so So that's it for the subject of how to set stop loss and take profit levels in cTrader when you execute a trade. Now I do want also to show how it all works, a new order, but not with the market order, but you have the limit orders or stop orders. The idea here is pretty much The same limit order, you choose if it's buy limit or sell limit. Expiry day, you can choose until when it is good. And same story with the stop loss and take profit, right? You set your take profit, you can move the sell limit where you want it to get executed. Pay attention that if you go below the price, because sell limit is sell with retraces, right? If you go below the market price, it will simply make it wrong and it will be marked here by red, right? So super convenient, everything happens again here. I showed an example on market order before, but the same control directly from the same zone. So that's pretty much it for this subject on how do we set stop loss, how do we set take profit without the risk management or with the risk management, how easily you can control it from the chart and how easily you can move the levels directly from the minimum— minimized, not minimum— minimized window that opens when you have a new trade execution and you have once again easy full control and from my point of view which for me is the most important part, is I know the exact risk per trade. It's crucial. I don't— I can't express with the right word how critical it is. And that way it is designed here, where you see the numbers before you short, buy, and sell. Because I can tell you that when I started, I did tons of wrong trades Because there was no built-in feature that tells me how much I'm risking. And you can just go, oh, 1 lot, without paying attention to it, and like, what did I do? That's crazy. So, uh, you want to avoid these surprises. You want to avoid this, uh, um, situation that puts you in the stressful conditions, and you want to have full control of the trade. That's why these numbers of the risk control are so important. Okay, so as I mentioned at the beginning, I'll be doing series of videos where I will be presenting different subjects, like for example, how do we use trailing stop-loss with this platform, or how do we actually work with the risk management tools in the advanced mode, right? The position size, how it's calculated, And the other risk control options we have here. We will be talking about a different way to trade with that, like day trading or swing trading and so on and so on. I'll be also showing— that's actually thanks to one of my followers— strategy, okay? How to execute trading strategy with specific level breakouts. On cTrader. So that's on the videos to come. I will create a playlist for your comfort, how to work with the cTrader platform, and I hope you find it useful. Don't hesitate to ask any questions if you have any in the comments below. And once again, I hope you find that useful, and I hope that when you use cTrader, you also will understand how powerful the built-in features are and how this platform simply beats a platform like MetaTrader, for example, in terms of professional trading, the ease of execution, the analysis, of course, how to do and everything. You know, this is individual, but when it comes to trading execution, the speed, the off-quotes, that you don't face any off-quotes conditions, and many other features here, you would see why this one is considered probably one of the best, maybe the best. I met recently some traders who consider cTrader as the best trading platform. For professional trading. And very honest view, I was aware of cTrader years ago, but I was so much focused on MetaTrader because I was developing tools there. Recently I got the chance to trade also with cTrader's account. Beyond what I already mentioned, that I absolutely love the way that the platform offers me the professional trading comfort. I don't have much more to say. Try that, you would love it. You would, and you would understand quickly why. So you would— this is considered to be one of the most growing platforms and supreme platform. So check it out, enjoy. If you have any questions, let me know and I'll be more than happy to assist. So thanks for watching, good trading, and have a wonderful week ahead, months ahead, and I'll see you soon with more. Bye for now.