Master risk management with automated profit-taking and loss-limiting strategies
Take profit orders automatically close your position when it reaches your desired profit level, ensuring you capture gains without constant monitoring.
Set take profit above your entry price. When market price reaches this level, your position closes automatically.
Set take profit below your entry price. When market price drops to this level, your position closes automatically.
Stop loss orders are your safety net, automatically closing positions when losses reach a predetermined level to protect your capital.
Set stop loss below your entry price. If market price falls to this level, your position closes to limit losses.
Set stop loss above your entry price. If market price rises to this level, your position closes to limit losses.
Automatically adjusts your stop loss as the position moves in your favor, locking in profits while maintaining protection.
Close portions of your position at different profit levels to balance risk and reward.
Aim for a minimum 1:2 risk-reward ratio. If you risk $100, target at least $200 profit. This allows you to be profitable even with a 50% win rate.