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- How to Add Options to Close Trades Automatically
How to Add Options to Close Trades Automatically
You can watch your trades and wait for the best time to close them, but you don’t need to. Instead, you can add orders to close them automatically if certain conditions are met. These orders help you manage risk if the market moves suddenly against you.
Modify your trade with risk-management orders:
- Click the Trades tab.
- Click the trade.
- Click Modify.
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You can change the following options:
Stop Losses and Take Profits close trades if the market rate reaches a specified value. They are designed to stop your losses or lock in your profits at a level you’re comfortable with.
Trailing Stops allow trades to continue to add unrealized value when the market price moves in a favorable direction, but automatically close trades if the market price suddenly moves in an unfavorable direction by a specified distance. - Click Submit.