What Is Take Profit?

Expert opinion: don't forget about the ratio of profit to risk in every trade. Experienced traders try to make trades only if the potential profit is more than twice the risk.

Expert opinion: as a rule, you should set a stop loss after the nearest level (above the level of resistance or below the level of support). Conversely, your take profit should be set before the nearest level (below the resistance level or above the support level).

Expert opinion: there are investment strategies where stop loss and take profit orders aren't used. These are usually the preserve of only the most experienced of traders. We strongly recommend using these methods of limitation in your first trades. This way you can achieve more psychological comfort and stability, while reducing the risk of making a mistake as a result of following emotion instead of logic.