Yes, you need to set a Stop Loss (SL) and Take Profit (TP) for every trade.
The minimum SL/TP distance you can set is 5 pips. Every trade must have a SL/TP to manage risk effectively.
Are SL/TP Required?
Understand why setting a Stop Loss (SL) and Take Profit (TP) is mandatory and the minimum requirement.
Written by Ola