How to set up Take profit & Stop loss
◆ Stop loss Definition
Stop loss is designed to be an exit order method to limit the amount of losses for a position. Using Bex500, traders can set up the Stop loss price according to their orders. When the market price hits the Stop loss price, the order will be closed immediately. Any further losses which are caused by a reverse market trend could be avoided if a Stop Loss Order is placed.
◆ Take profit definition
Take profit is an order that traders can close their position once it reaches a certain level of profit. Traders can set up the take profit price according to their orders.
◆ In Bex500, you may set up the Take profit & Stop Loss by following process.
- when you placed the order, you may find your order information in your position area. Traders can set up “Stop loss” or “Take profit” in the relative blank.
- If you set up a limit order, you may find all the information in the limit order area. You can also set up “Stop loss” or “Take profit” in the relative blank.