Ever wished you could lock in your profits before the market flips? Or stop a loss in its tracks before it gets worse? Now you can!
🛡️ With stop loss (SL) and take profit (TP), you can make the most out of your trades while keeping your risks in check. Let’s break them down!
Managing risks
Stop loss automatically closes your trade when the price reaches your risk limit, helping you avoid big losses. It’s like saying, “If the price drops to this level, I’m out before it gets worse.”
🟢 Buy trade? Set the SL below the current price
🔴 Sell trade? Set the SL above the current price
💰 Example: You buy Bitcoin at $100,000 and set the SL at $99,500. If the price drops to $99,500, your trade closes automatically, preventing further losses. No need to watch the screen all day!
Managing risks
Got a trade open already? You can add or adjust the SL whenever you want in the Positions tab.
Managing risks
Take profit automatically closes your trade when the price hits your target, locking in your profits. It’s like saying, “I’ve made enough money — time to cash out!”
🟢 Buy trade? Set the TP above the current price
🔴 Sell trade? Set the TP below the current price
💰 Example: You buy gold at $2,000 and set the TP at $2,100. If the price reaches $2,100, your trade closes automatically and you keep the profit without having to watch the market all day!
Managing risks
📈 Got a trade open already? You can add a TP whenever you want by going to the Positions tab and updating your trade settings.
Managing risks
Managing risks
Want to take some profit but keep the rest of the trade open? That’s what a partial close does!
🔐 That way, you secure your earnings while still leaving room for more profit.
Managing risks
What’s a common strategy for setting both a stop loss and take profit?
Managing risks
Awesome work! You’ve learned:
You’re becoming a smarter trader! Next up: key insights into technical analysis. Let’s keep going!