Securing Your Profits
A take-profit (TP) order automatically closes your position when it reaches your profit target, locking in your gains.
How It Works
Example: You buy Gold at $2,000 and set take-profit at $2,050:
- When gold reaches $2,050, position closes automatically
- Your $50 profit is secured
- You don't need to monitor the market constantly
Benefits
- ✅ Removes emotion from trading
- ✅ Secures profits automatically
- ✅ Lets you trade while away from computer
- ✅ Enforces trading discipline
Use both stop-loss AND take-profit on every trade for best results!