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What is a Take Profit order?

A Take Profit order is a type of limit order that specifies the exact price at which to close out an open position for a profit. It’s possible to use Take Profit with Stop Loss functions at the same time on FUMGO. This gives the users the ability to manage their open positions. If the price rises to the Take Profit point, the order is executed, and the position is closed for the gain. If the price falls to the Stop Loss point, the order is executed and the position is closed for a loss. The difference between the market price and these two points helps define the user’s risk-to-reward ratio. Take Profit Order separately fixes the desirable level of profit. The user can set the price to automatically close the opened position on the cryptocurrency exchange. All further actions will occur without your participation.

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