How to set up take profit and stop-loss?

Could you please elaborate on the process of setting up take profit and stop-loss orders in the cryptocurrency market? As an investor, I'm interested in understanding how these tools can help me manage my risks and maximize my profits. Could you guide me through the steps involved in placing these orders, and also explain the importance of choosing the right trigger prices for both take profit and stop-loss orders? Additionally, are there any best practices or strategies that you recommend when using these orders in a volatile market like cryptocurrency?