Use Take Profit to secure profits and prevent capital loss.
Take Profits trigger when they surpass a price threshold, initiating a limit order, behaving like a reversed stop loss, designed to swap out of an asset to secure profits. Take profits work off two price conditions, similar to a Stop Limit Order. Once the price has reached your desired triggered price, you will automatically place out a limit to secure your unrealized gains. Take Profit Orders are especially beneficial for short-term traders interested in taking profits from a quick bump in an asset’s price.
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