Tactics - stop loss plus take profit.

This is one of the most common tactics in Forex; most traders, without even realizing it, intuitively employ stop orders.

Essentially, the stop-loss plus take-profit tactic implies that, regardless of the trading strategy used to generate profit, two stop orders are always placed before the trade is initiated.

Moreover, their placement follows the same rules; this is the tactic; there are many variations of these rules, which we will discuss below.

First of all, it's important to remember that stop-loss and take-profit orders are placed at the moment of opening a position, not after the order has already been placed. Both orders are important: the stop-loss protects the deposit, while the take-profit allows you to take profits and eliminate market pressure on the trader.

1. A simple option - here, a certain number of points is used as a basis, for example, a stop loss of 20 points from the current price, and a take profit of 30 points. This approach is better than no approach at all, but more often than not, it only leads to an early stop loss trigger.

2. At support or resistance levels - during a downtrend, the stop loss is set slightly above the resistance level, and the take profit is set before reaching the support level, and vice versa.

3. At the correction level - we look at how far the price typically retraces and set the stop loss slightly above this value. With a take profit, things are more complicated: you should consider the current price position, how long you plan to hold the trade, and the nearest level.

The main rule of this tactic is its consistent use; it is the best way to protect a trader's deposit from being completely wiped out.