Protective orders: stop loss and take profit
Stop Loss (S/L) and Take Profit (T/P) orders allow a trader to minimize risks and lock in profits by automatically closing a position when the price of an asset reaches your S/L or T/P price
Stop Loss (S/L) orders allow you to minimize losses by automatically closing a position should the price of an asset reach the price specified in your Stop Loss order.
Take Profit (T/P) orders allow you to lock in profits by automatically closing a position should the price of an asset reach the price specified in your Take Profit order.
These types of orders are highly recommended when trading as they are used as an additional risk-management tool and allow traders to automatically close their positions and lock in profits should the market reach the desired exit price.
S/L and T/P orders can be placed from the "Open positions" and "Active orders" modules of the Trade page by clicking the corresponding field in the Take profit / Stop loss columns
When adding a S/L or T/P to an active order or position, simply enter the desired S/L or T/P price and click "SET"