Direct answer
To set a “75 pip stop” in forex, place a stop-loss order at a price level that is 75 pips away from your entry price. A pip is a standardized price move used in FX quoting; “75 pips” describes a distance, not a profit target. The stop price depends on whether you are buying or selling and on the instrument’s pip size (the smallest standard pip increment for that pair).
How it works (mechanics)
- Identify your entry price and direction
- Buy (long): your stop is below the entry.
- Sell (short): your stop is above the entry.
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Confirm the pip size for the pair Different currency pairs can quote with different decimal formats. In general terms, you need the platform’s definition of “pip” (or the pip-to-price conversion) for that specific pair so that “75 pips” becomes an exact numeric price distance.
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Convert 75 pips into a stop price Use the conversion:
- Stop price = Entry price − (75 × pip value) for a buy.
- Stop price = Entry price + (75 × pip value) for a sell.
- Place the stop-loss order On most trading platforms, you will enter either:
- A stop-loss price directly, or
- A stop-loss distance in pips (if the interface supports it). If the interface only accepts a price, you must compute the stop price from the pip distance.
- Understand order behavior A stop-loss order is designed to trigger an exit when the market reaches the stop level. In fast-moving markets, the final executed price can differ from the stop level because of spread and price gaps. This is a key reason to treat a pip distance as a planning input, not a guaranteed execution outcome.
Example checks (without platform-specific settings)
Assume (hypothetically) a pair where one pip equals 0.0001 in price. If your entry is 1.2000:
- For a buy: a 75-pip stop would be 75 × 0.0001 = 0.0075 below entry → 1.1925.
- For a sell: a 75-pip stop would be 75 × 0.0001 = 0.0075 above entry → 1.2075.
Because pip size can vary by pair and platform quoting format, you should verify the pip-to-price mapping in the trading interface (for example, by checking how “pips” are displayed in the order ticket or contract specifications).
Also check whether your platform rounds stop prices to the nearest allowed tick size. If it rounds, the actual distance may be slightly different from exactly 75 pips.
Relevant limitations and risks
- Execution uncertainty: stop-loss orders are not guaranteed to fill at the exact stop price, especially during volatility or sudden price gaps.
- Spread effects: in FX, bid/ask spread means that reaching a stop level can occur differently for entry and exit pricing.
- Pip definition differences: “pip” may be displayed with varying decimal conventions depending on the pair and broker/platform.
- Rounding and limits: minimum distance rules, tick-size rounding, and order validation can cause the effective stop distance to differ from the intended 75 pips.
If you need the exact mechanics for your specific platform, use its order ticket fields and pair specifications to verify the pip size, accepted stop inputs, and rounding behavior.