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What is Take Profit?
Take Profit or TP in short, is an instruction which involves closing a trade at a particular rate if the market rises. In this manner one can be sure that a profit can be realized. This will then go to the available balance.
Setting up a TP instruction is completely optional but many traders like to use it. A Take Profit can be set when a trade is open, and it is very simple to set it up. Simply click on the particular trade from your portfolio, and choose the Edit option. Here you will find the option of setting a Take Profit instruction.
The TP can be set according to a specific price or you may opt to choose a pips.
One of the advantages of a TP is that you can revisit your selection any time. You can thus adjust it or even remove it.
Should the market rise to your specified rate, and you gained that amount, the TP order will be triggered, and your position will thereafter be closed.
Under unnormal market conditions the TP is not guaranteed. So should the TP rate vary a bit, the TP will be triggered at the next available rate.
Setting up a TP instruction is completely optional but many traders like to use it. A Take Profit can be set when a trade is open, and it is very simple to set it up. Simply click on the particular trade from your portfolio, and choose the Edit option. Here you will find the option of setting a Take Profit instruction.
The TP can be set according to a specific price or you may opt to choose a pips.
One of the advantages of a TP is that you can revisit your selection any time. You can thus adjust it or even remove it.
Should the market rise to your specified rate, and you gained that amount, the TP order will be triggered, and your position will thereafter be closed.
Under unnormal market conditions the TP is not guaranteed. So should the TP rate vary a bit, the TP will be triggered at the next available rate.