General information
Stop Loss and Take Profit are price limiters in a deal, which are necessary for timely closing of a position with fixation of loss or profit.
Stop Loss is a loss limiter. This type of order is placed below the buy (BUY) entry point to prevent an even more serious loss in case of an unwanted price drop.
Stop Loss when selling (SELL) is placed above the entry point of the transaction to prevent even greater loss in case of unwanted price growth.
Stop Loss is an insurance element, which provides risk limitation and is regulated directly by the Client depending on his trading strategy.
Take Profit is a profit lock. This type of order is placed above the entry point when buying (BUY) in order to fix the profit when the price rises.
Take Profit when selling (SELL) is placed below the entry point to lock in profit when the price falls.
Quick Take Profit (QTP)
There is an option to set Quick Take Profit (QTP) by default, which is useful for saving time when setting trade parameters. The automatic QTP size is specified when this option is enabled.
Enabling Take Profit and Stop Loss
To enable Take Profit or Stop Loss in a new or already active trade - click on the items of the same name in the parameters window of your trade. You can choose between amount and quote as conditions for triggering Take Profit and Stop Loss, as well as choose between regular Take Profit and Quick Take Profit (QTP).
Computer:
When setting up a new trade, check the Take Profit and Stop Loss boxes to enable them, and also specify their triggering values.
If you need to switch from QTP (Quick Take Profit) to regular Take Profit, use the triangle switch opposite "QTP". In the same way the Amount/Price mode is switched for the triggering condition of your Take Profit and Stop Loss.
Mobile Device:
Click on one of the buttons on the left to set Take Profit and Stop Loss either by setting the exact value of the Amount/Price or by directly placing them on the price chart.
Uncheck or check the box on the right to disable or enable Quick Take Profit.
