Managing risk is an essential part of successful trading. Tradovate provides several tools that allow traders to automatically or manually set Stop Loss (SL) and Take Profit (TP) levels to help manage open positions.
This guide explains the different methods available across desktop, web, and mobile platforms.
What Are Stop Loss and Take Profit Orders?
Stop Loss (SL)
A Stop Loss is an order designed to automatically close a trade if the market moves against you by a specified amount.
Take Profit (TP)
A Take Profit order automatically closes a trade once your desired profit target has been reached.
Using both together helps traders manage risk and lock in profits without constantly monitoring the market.
Method 1: Using ATM Strategies (Desktop & Web)
ATM (Advanced Trade Management) allows you to automatically attach Stop Loss and Take Profit levels to every trade.
Step 1: Open Your Trading Chart
Log in to Tradovate and open a chart or trading window.
Step 2: Open ATM Settings
Locate the ATM section and click the settings (gear) icon.
Step 3: Create a New Strategy
Click the + button to create a new ATM profile.
You may name it something descriptive, such as:
Scalping Strategy
Swing Strategy
Risk Management Setup
Step 4: Configure Your Risk Parameters
Set your desired:
Take Profit target
Stop Loss level
Example:
Take Profit: 30 ticks
Stop Loss: 15 ticks
Step 5: Save the Strategy
Click Save.
The ATM strategy can now be selected whenever you place a new trade.
Method 2: Using OCO Orders (Desktop & Web)
OCO stands for One Cancels Other.
This method links your Stop Loss and Take Profit orders together. Once one order is triggered, the other is automatically canceled.
Step 1: Open a Position
Enter a Buy or Sell trade.
Step 2: Enable OCO Mode
From the DOM, activate OCO mode.
Step 3: Place Your Take Profit Order
Place a Limit Order at your desired profit target.
Step 4: Place Your Stop Loss Order
Place a Stop Order at your desired risk level.
Step 5: Disable OCO Mode
Once both orders are placed, you can turn OCO mode off.
How OCO Works
If:
Your Take Profit is hit → Stop Loss is canceled.
Your Stop Loss is hit → Take Profit is canceled.
This prevents both orders from remaining active at the same time.
Method 3: Using OSO Orders (Desktop & Web)
OSO stands for Order Sends Order.
This setup automatically creates your Stop Loss and Take Profit orders once your entry order is filled.
Step 1: Open the Order Ticket
Launch the Order Ticket window.
Step 2: Switch to Advanced Mode
Enable the Advanced Order settings.
Step 3: Configure Your Entry Order
Choose:
Buy or Sell
Limit or Stop Entry
Entry Price
Step 4: Add Your Risk Management Orders
Configure:
Stop Loss
Set your Stop Loss price and order type.
Take Profit
Set your profit target and order type.
Step 5: Submit the Order
Click Place Order.
Once your entry order fills, Tradovate will automatically create the linked Stop Loss and Take Profit orders.
Modifying Existing Stop Loss and Take Profit Orders
If you already have an open trade, you can adjust your risk parameters at any time.
Step 1: Open the Positions Window
Navigate to the Positions section.
Step 2: Select the Position
Choose the trade you want to modify.
Step 3: Edit Your Orders
Adjust your:
Stop Loss
Take Profit
Step 4: Save Changes
Confirm the modifications to update your position.
Setting Stop Loss & Take Profit on the Mobile App
Tradovate Mobile allows traders to use Bracket Orders for automatic risk management.
Step 1: Open the App
Launch the Tradovate mobile application and sign in.
Step 2: Access ATM Settings
Open the trading screen and locate the ATM or order settings.
Step 3: Enable Bracket Orders
Select Bracket Orders.
Step 4: Configure Your Levels
Enter your desired:
Stop Loss level
Take Profit level
Step 5: Place Your Trade
Submit your order as normal.
Tradovate will automatically attach the Stop Loss and Take Profit orders to your position.
Best Practices for Risk Management
Before entering any trade:
✓ Always define your maximum risk.
✓ Set a Stop Loss before entering the market.
✓ Use realistic Take Profit targets based on your strategy.
✓ Double-check all order parameters before submitting a trade.
✓ Review and adjust your orders when market conditions change.
Need Assistance?
If you need help setting up ATM strategies, OCO orders, OSO orders, or Bracket Orders in Tradovate, the AquaFutures Support Team is available to assist you.