Placing a take profit limit order

Take Profit Limit orders allow traders to set profit targets and secure their gains by setting a price at which to close an open position. When the profit price is reached, the limit order is triggered. For a long position, traders place a take profit limit above the current market price, and for a short position, they place it below the current market price. If the index price reaches the take-profit point, the T/P order changes from 'Untriggered' to 'Open' and behaves like a traditional limit order. Short-term traders interested in managing their risk often use take-profit orders because they can exit a trade as soon as their planned profit target is achieved without risking a future downturn in the market.

Placing a take profit limit order

To place a take profit limit order:

1. Click Take Profit Limit under the Stop dropdown menu.

2. Click Buy or Sell.

3. Type an Amount - this is the total trade size.

4. Type the desired Stop Trigger Price.

5. Type the desired Limit Price.

6. Review your order summary to confirm your selections.

7. Click Place Order to execute your order.

Advanced Stop Order Options

Under the advanced section in the trade box, you have the ability to adjust your Good Til Time.

You can include other options such. as Good-Til-Date, Fill Or Kill or Post-Only.

• Good Til Date - The order will be added to the order book and expire automatically on the specified date.

• Fill or Kill - The order type in question will only be executed if the entire amount can be matched, and partial matches are not allowed.

• Post-Only - By clicking the Post-Only option, you can ensure that you won't be charged the taker fee.

Note: Take profit orders trigger based off the index price or the last trade price.