Exit Order

Exit Order is also a command in the metatrader 4 asking your broker to get you out of the trade in a future time.

Two (2) Exit Orders are:
1. Take Profit (TP)
2. Stop Loss (SL)

1. Take Profit (TP)
This exit command when set, is used to ask for getting out of trade you entered when Profit reach the set parameter.

Take Profit help you avoid profit made to return to loss.

2. Stop Loss (SL)
This exit command when set, is used  for getting out of trade when loss reach the set parameter.

It is also used to lock profits made when a trade is making profit and which you are not sure of what extent the profit will go.

As the profit continues, the Stop Loss also get reset to lock in more profits.

Next Topic: Practice Make Perfect

No comments:

Post a Comment