As a FundedNext Futures trader, mastering risk management is key. Here’s how you can set and manage your Stop Loss and Take Profit in Tradovate to safeguard your trades.
Windows/Mac/Web Platform:
Setting Stop Loss & Take Profit (ATM):
It allows you to create automated orders with predefined Stop Loss (SL), Take Profit (TP), and other conditions. Here are the steps to use this feature:
Launch your trading chart on Tradovate.
Click the gear icon next to ATM to access the settings.
Click the plus (+) icon to add a new ATM strategy. Name it something like “SL-TP Strategy.”
Set Your Parameters. Take Profit: Enter your desired profit target (e.g., 30 ticks). Stop Loss: Enter your risk limit (e.g., 15 ticks).
Click Save to apply the changes.
Windows/Mac/Web Platform:
Setting Stop Loss & Take Profit (OCO):
It allows you to manually set SL and TP orders that are linked, so the execution of one cancels the other. Here are the steps to use this feature:
Enter a Position: Place a Buy or Sell order to enter a position.
Enable OCO Mode: In the DOM, click the OCO button to activate OCO mode.
Place SL and TP Orders:
Take Profit: Click above the current price to place a Limit order.
Stop Loss: Click below the current price to place a Stop order.
Deactivate OCO Mode: Click the OCO button again to turn off OCO mode.
Note: If either the SL or TP order is executed, the other will be automatically canceled.
Windows/Mac/Web Platform:
Setting Stop Loss & Take Profit (OSO):
It allows you to automate the placement of SL and TP orders upon the execution of an entry order. Here are the steps to use this feature:
Access the Order Ticket: Click on the Order Ticket button in the platform.
Enable Advanced Mode: In the Order Ticket, switch to Advanced mode.
Configure the Primary Order:
Action: Select Buy or Sell.
Order Type: Choose Limit or Stop.
Price: Set your desired entry price.
Add Secondary Orders:
In the OSO section, add your SL and TP orders.
Stop Loss: Set the price and order type (e.g., Stop Market).
Take Profit: Set the price and order type (e.g., Limit).
Submit the OSO Order:
Click Place Order to submit the OSO setup.
Note: Once the primary order is filled, the linked SL and TP orders will be automatically placed. Navigate to the Positions Tab.
Click on the trade you want to adjust.
Modify the Stop Loss & Take Profit values and save changes.
Mobile App:
Setting Stop Loss & Take Profit
To set Stop Loss (SL) and Take Profit (TP) levels on the Tradovate mobile app, you need to access bracket orders, configure the SL and TP levels in the ATM settings, and then make your trade. Here's a more detailed breakdown:
Accessing Bracket Orders:
Open your trading chart on Tradovate.
Locate the "ATM" (Advanced Trading Module) settings, usually accessible by tapping the gear icon or similar.
Select the "Bracket Orders" option within the ATM settings.
2. Configuring SL and TP Levels:
In the ATM settings, choose "Take Profit" and "Stop Loss" as your order types.
Set the desired price levels for your Take Profit and Stop Loss.
Now you can effectively manage Stop Loss & Take Profit in Tradovate across all platforms!