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What is a take profit limit order?

A take profit limit order is an order put in place by traders to maximize their profits and protect their profits on positions.

A take profit limit order allows you (a trader) to set your custom made Buy or Sell order. You have to set two prices - the Trigger Price and the buy/sell Price.

After the trigger Price is reached, your order becomes a limit order with the price you set, which can be either  >= or <= compared to the Trigger Price. 

 

You also have to set either the amount of the cryptocurrency you want to buy/sell, or the total you wish to spend.

 

Option 1 - SELL:

A take profit limit order is an order put in place by traders to maximize their profits and protect their profits on positions. 

 

 

 

1a. Set the Amount of the cryptocurrency you wish to sell, OR

1b. Set the Total (EUR) amount you wish to receive.

2. Set the Trigger Price, at which you want your order to become a limit order (become active).

3. Set the Price, at which you want to sell the chosen cryptocurrency.

 

 

 

 

 

 

Option 2 - BUY:

A take profit limit order is an order put in place by traders to maximize their profits and protect their profits on positions.

 

 

 

1a. Set the Amount of the cryptocurrency you wish to buy, OR

1b. Set the Total (EUR) amount you wish to spend.

2. Set the Trigger Price, at which you want your order to become a limit order (become active).

3. Set the Price, at which you want to buy the chosen cryptocurrency.


BIDS

The bid price is the highest price that a particular buyer is willing to pay for a specific product or service. In the context of financial/crypto markets, it is the value buyers offer for an asset, such as a commodity, security or cryptocurrency.

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ASKS

The asking price is the minimum price that an individual would be willing to sell their asset, or the minimum amount that they want to receive in return for the unit(s) they are parting with.

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MY OPEN ORDERS

Here you can see all of your open orders. To cancel an open order, just click the ‘X’ symbol next to it.

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LIMIT ORDER

Limit order gives you the power to set a specific price at which you would like to buy or sell the desired amount of cryptocurrency.

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MARKET ORDER

A market order is an order type that enables you to buy or sell at the best available market price.

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STOP LOSS LIMIT

A Stop Loss Limit order is designed to limit your loss on a cryptocurrency position. A Stop Loss Limit order can be placed to buy or sell a specific cryptocurrency at your entered price (a limit order) once that cryptocurrency reaches a certain price.

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TAKE PROFIT LIMIT

A take profit limit order is an order put in place by traders to maximize their profits and protect their profits on positions. A take profit limit order allows you (a trader) to set your custom made Buy or Sell order. You have to set two prices - the Trigger Price and the buy/sell Price.

Read more