Locking profit seems a new phrase?
Some traders use Stop limit/ Trailing stop to secure their trade.
If one of your trade go on profit, you can set a stop limit, so that if price try to cross that point, trade will get close with profit.
Imagine one of your trade is in 20 pips profit. If you set stop limit of 10 pips, if your profit reduce and if it come at 10 pips, your trade will close automatically with that profit.
Anyone do this in trading?
Some traders use Stop limit/ Trailing stop to secure their trade.
If one of your trade go on profit, you can set a stop limit, so that if price try to cross that point, trade will get close with profit.
Imagine one of your trade is in 20 pips profit. If you set stop limit of 10 pips, if your profit reduce and if it come at 10 pips, your trade will close automatically with that profit.
Anyone do this in trading?
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