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Igor

Take-Profit Order - T/P Definition

By Igor, in Trading Dictionary

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Igor    10

Igor
Posted

In order for a trader to ensure that whenever his trade has attained a certain degree of profit, he can place an instruction to a broker in the form of a pre-set order for the trade to be closed automatically when the trade has moved into a profit position by a certain number of pips. This order is used because at times the trader may be off his computer or may not be in a position to close the trade out manually. He can set the Take Profit order instruction on his trading platform either at the time of execution of the trade entry, or when the trade is active.

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