Take Profit and Stop Loss are key features in trading that help manage trades and limit profits/losses. Stop Loss closes a trade at a specified price, and Take Profit closes a trade at a desired profit level.
These tools are crucial for minimizing risk and maximizing returns. When you place a trade (learn more about placing trades in Equiti Trader), you can enable the Take Profit or Stop Loss toggles or enable them both.
Take Profit in the Equiti Trader app can be triggered based on three options:
- Distance: The trade will be closed when the market's current price and new price are the same distance in pips as the amount entered in the Input Distance field.
- Price: The trade will be closed when the market price reaches the price entered in the Input Price field.
- Profit: The trade will be closed when the trade's profit reaches the amount entered in the Input Profit field.
Stop Loss in the Equiti Trader app can also be triggered based on three options:
- Distance: The trade will be closed when the market's current price and new price are the same distance in pips as the amount entered in the Input Distance field.
- Price: The trade will be closed when the market price reaches the price entered in the Input Price field.
- Loss: The trade will be closed when the trade's Loss reaches the amount entered in the Input Loss field.