Take Profit and Stop Loss (Trailing Stop) Explained | eToro
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Take Profit and Stop Loss (Trailing Stop) Explained | eToro |
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Video From Ken Perfin π |
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This Video Uploaded At 24-08-2020 13:06:51 |
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What should you do when there is no time to sit in front of the monitor and watch the stock price, but you want to sell your stock when it reaches certain price.
Most investors use take profit orders and stop loss orders with trailing stop in this situations.
In this video Iβll explain how it works in general and show an example using the investing platform of eToro.
Timestamp:
0:00 Start here
0:19 Take profit order explained
1:26 How to place a take profit order on eToro
2:46 Stop loss and trailing stop loss order explained
3:45 How to place a stop loss and trailing stop loss order on eToro
5:29 Link to eToro review with full step by step guide
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More about take profit orders and stop loss with trailing stop orders:
Take-profit order.
A take-profit order (T/P) is a type of order that specifies the exact price at which to close an open position and take a profit.
Take-profit (T/P) orders are limit orders that are closed when a specified profit level is reached.
If the price of the security does not reach the limit price, the take-profit order does not get filled.
Usually limit prices for T/P orders are placed using either fundamental or technical analysis.
Take-profit orders are beneficial for short-term traders interested in profiting from a quick bump in the security costs, as well as for long-term investors based on analysis.
Stop loss order.
A stop-loss order is an order placed to sell a security when it reaches a certain price.
Stop-loss orders are designed to limit an investorβs loss on a position in a security.
When a stock reaches or falls below the stop price the order executes at the next available price.
For example, a trader may buy a stock and places a stop-loss order 10% below the purchase price. Should the stock drop, the stop-loss order would be activated, and the stock would be sold as a market order.
Trailing stop loss order.
A trailing stop is a modification of a typical stop loss order that can be set at a defined percentage or dollar amount away from a security's current market price.
A trailing stop is designed to protect gains by enabling a trade to remain open and continue to profit as long as the price is moving in the investorβs favor.
The order closes the trade if the price changes direction by a specified percentage or dollar amount.
A trailing stop is typically placed at the same time the initial trade is placed, although it may also be placed after the trade.
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