What does take profit mean in the Fortrade app?

Asked 4 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?

FortradeFortrade appTaking 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.

Write an answer...

Cancel

Please follow our  Community Guidelines

Related Articles

How to Determine When to Buy and Sell Dogecoin

How to Determine When to Buy and Sell Dogecoin

Filip Dimkovski

May 25, 2021

Know This About the IronFX Broker

Know This About the IronFX Broker

Filip Dimkovski

June 15, 2021

Wealthsimple Review: Trading Options, Stocks, Fees, and More

Wealthsimple Review: Trading Options, Stocks, Fees, and More

Andrew Moran

September 30, 2021

Related Posts

Can't find what you're looking for?