Cryptocurrency Q&A
Can I set stop loss and take profit at the same time?
Can I set stop loss and take profit at the same time?
KDramaLegendaryStarlightFestival
Mon Dec 02 2024
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7 answers
1871
I am wondering if it is possible to simultaneously set a stop loss and a take profit point in my trading strategy. I want to minimize my losses while also securing profits at a certain point.
7 answers
Valentina
Wed Dec 04 2024
When placing both take profit and stop loss simultaneously, there's an important rule to remember.
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Eleonora
Wed Dec 04 2024
This means that the specified take profit or stop loss level will be based on a set amount of the position, regardless of any changes in the position size.
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BonsaiGrace
Wed Dec 04 2024
Once either the take profit or stop loss order is triggered, the other one will automatically be canceled.
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Maria
Wed Dec 04 2024
This ensures that only one of the two orders executes, preventing any potential overlap or conflict.
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Sara
Wed Dec 04 2024
The entire position TP/SL (original TP/SL) applies to a fixed quantity in the position.
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