An order that automatically closes a trade once it reaches a specified profit level. This is part of the mechanical toolkit traders rely on to control entries and exits with precision rather than reacting to price in real time.
An order that automatically closes a trade once it reaches a specified profit level. This is part of the mechanical toolkit traders rely on to control entries and exits with precision rather than reacting to price in real time.
It locks in gains without requiring the trader to watch the screen. New traders benefit from internalizing this early, since it underpins much of the terminology and reasoning used throughout the rest of their trading education.
Set at a target price based on technical or risk-reward analysis. In practice, traders typically encounter this directly within their trading platform, charting software, or an economic calendar, depending on the specific context in which it arises.
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