📎 Contract Trading | Take-Profit and Stop-Loss
· Key point: Stop-loss and take-profit orders are both conditional orders. They won't enter the order book until the price reaches the preset trigger price; only then will the order be placed.
· Why: A stop-loss should be set at a price that proves your judgment wrong, not picked arbitrarily based on how much you can afford to lose.
· Note: Once you've set a stop-loss, don't move it farther away just because the price is about to hit it. This often turns a small loss into a big one.
$BTC 82052 (+1.61%)
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· Key point: Stop-loss and take-profit orders are both conditional orders. They won't enter the order book until the price reaches the preset trigger price; only then will the order be placed.
· Why: A stop-loss should be set at a price that proves your judgment wrong, not picked arbitrarily based on how much you can afford to lose.
· Note: Once you've set a stop-loss, don't move it farther away just because the price is about to hit it. This often turns a small loss into a big one.
$BTC 82052 (+1.61%)
#BTC