Take Profit Order
Take Profit Order is the limit a trader sets to close an open position for profit. Traders use Take Profit to secure the profit they already gained from their trades, in case the market moves in the opposite direction abruptly. Linked Limit and Stop Orders The two main order types linked to open positions or pending orders are Stop Loss and Take Profit.
- Stop Loss order limits possible losses. It is set at a price lower than the opening price of the position or of the pending order execution.
- Take Profit order secures gains already acquired. It is set at a price higher than the opening price of the position or of the pending order execution.
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