TP (Take Profit) and SL (Stop Loss) are risk management tools.
Take Profit (TP)
Automatically closes the position when a defined profit is reached.
Helps secure gains.
Stop Loss (SL)
Automatically closes the position when a maximum acceptable loss is reached.
Helps limit losses.
Benefits:
Allow operating with discipline.
Reduce emotional decisions.
Are highly recommended in futures.
Trading futures without SL significantly increases risk.