What is Take Profit and how can I set it up?

Updated 4 months ago

Take Profit is a limit order that you place if you want your previously open position to close automatically when a specified price is reached with a profit.  If your position is BUY, then you must set your Take Profit at a higher bid price than the current bid price. If your position is Sell, then you must set your Take Profit at a lower ask price than the current ask price.

You can set Take Profit within the order window before opening a position or you can modify an existing position by right clicking on an order and selecting Modify or Delete.

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Please note that there is a minimum point distance when you set Take Profit. Please see our Limit & Stop levels under the 'Trading' menu tab, or under Market Watch window - Specification.

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