What does take profit mean in the Fortrade app?

Asked 3 years ago

I'm starting to learn about trading, and I'm currently using Fortrade. I've learned what stop-loss is, what it does, and how it benefits your reading strategy. Now, what is take profit for? Surely, I can see it's in profit and then withdraw it?

Fortrade Fortrade app Taking profit

Andia Rispah Igobwa

Friday, October 08, 2021

The Take Profit (T/P ) order is a market order that immediately closes profitable security or financial instrument when it reaches a predetermined price level that is comfortable for the trader.
A T/P may be used in either long (buy) or short (sell) positions.