Configure exit strategies for your trading strategies.
Primary knowledge hub
Primary knowledge hub for platform usage and feature reference.
A stop-loss order automatically exits a position when the price drops below a specified threshold. Set your stop-loss as a percentage of entry price (e.g., 5% stop-loss means the position closes if the price drops 5% from entry). This limits downside risk per trade.
A take-profit order locks in gains by automatically closing a position when the price reaches a target level. Combine take-profit with stop-loss to create a complete exit strategy with defined risk/reward ratios.
A trailing stop moves the stop-loss level upward as the price increases, locking in profits during uptrends. The trailing distance can be set as a fixed percentage or based on volatility measures like ATR (Average True Range).
Always set stop-loss levels before deploying a strategy. Start with conservative stop-loss and take-profit levels and adjust based on observed live performance. Avoid setting stops too tight (frequent false triggers) or too wide (excessive losses per trade).