Take profit / profit target

Profit target

A take profit is the amount of money you intend to make in a trade. In your order, you specify a price at which you will close your trade. The take profit is also often called "profit target".

Take profits are an important part of order management, as it helps you to automatically exit the market at the price you plan to — even if you are not watching your screen at the time the price is reached.

Learn more about setting the right profit target:

Lesson
Learn how to effectively place profit targets in the best place to maximise profits and control your risks in trading.
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20

In the forex beginner strategy, the profit target is set in the 3rd step.

Setting take profits in MetaTrader 4

MetaTrader 4 (MT4) is the most popular trading software. Most of the partner broker of tradimo offer it for free to their traders. Read our tutorial on how to take profit in MT4:

Article
How to open and close trades, enter a stop loss/take profit and enter/cancel an order in MT4.
26

An order in the trading software MetaTrader 4.

number_1 is the position size

number_2 is the stop loss

number_3 is the profit target

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