How to fix an Invalid SL/TP error
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Invalid SL/TP error is an error that occurs in the trading terminal when you try to place a pending order, and it can happen for any of the reasons below. Check out our tips for fixing this error.
1. Follow the stop level
One of the most common reasons for an invalid SL/TP error on the platform is due to placing a pending order within the spread. Make sure you keep track of the current stop and spread when setting up a pending order.
2. Choose the right pending order
Make sure you use the correct pending order type as they work differently. Therefore, errors can occur if you use the wrong pending order.
Here is a short guide on how to set up a pending order price (while opening an order):
|Pending order||Price direction|
|Buy Stop||Set above the current ask price|
|Sell Stop||Set below the current bid price|
|Buy Limit||Set below the current ask price|
|Sell Limit||Set above the current bid price|
Example: For price 1,20042/1.264, the first price is the buy price, and the second price is the selling price. Learn more about buy and sell prices.
3. Confirm the correct setting of stop loss and take profit (SL/TP)
Stop loss and take profit must be set following the order type (buy or sell) at the close and the selected pending order.
Take profit is a pending order set up with the expectation that the price will go higher. This order will automatically close when the set profit level is reached.
Stop loss is a pending order set up with the expectation that the price will go lower. This order will automatically close when the set loss level is reached.
Depending on your selected order type and pending order, follow the instructions below:
|Order Type||Pending Order||Price Direction|
|Buy||Stop Loss||Set lower than the current bid price|
|Take Profit||Place higher than the current bid price|
|Sell||Stop Loss||Set higher than the current selling price|
|Take Profit||Set lower than the current selling price|
Example: For price 1,20042/1.264, the first price is the buy price and the second price is the sell price. Learn more about buy and sell prices.
Please note that since Stop loss and Take profit can be placed at any time after an order is opened, the profit or loss expectation should be based on the current price when the pending order was placed and not the open price of the order. You can close an order with a take profit but still suffer a loss because you take Profit at a price lower than the open price. The same goes for Stop loss orders.