Setting A Stop Loss Is A Way To Limit Your Risk.You Decide Upfront What Your Maximum Loss Will Be By Choosing The Stop Loss Rate.If The Market Reaches That Rate , Your Deal Will Be Automatically Closed.Since You Are The Person Setting The Rate,You Are In Control Of Your Investment.
Setting A Take Profit Rate Works In The Same Way.You Decide On A Desirable Profit Amount And Your Deal Is Automatically Closed When The Profit Rate You Have Chosen Is Reached.
Using A Take Profit Rate Helps You To Control Your Trading Without Having To Continuously Monitor Your Position.
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