When copying a trader you may set Risk Management triggers. These triggers allow you to minimize risk and ensure your profit 💼. If set, the triggers will instantly stop copying a trade when the price reaches a predetermined point. The options include Stop Loss and Take Profit orders. Both triggers may be set in percentages or in the base account currency.
When you start copying a trader, choose the Autocopy type and the size of your investment. Next, you’ll need to set up Stop Loss and Take Profit triggers:
Stop Loss 🛑
Stop Loss trigger allows you to automatically stop the order when the loss reaches a certain point in percentages or base account currency. Stop Loss trigger is aimed at mitigating the risks and preventing substantial losses in case of a sudden price change.
Take Profit 💸
Take Profit order will be automatically triggered when the established profit point is reached. A Take Profit order will ensure your profit by exiting a trade as soon as the market provides a favourable price.
▫️Choose the one you’d like to use or set both triggers to be more confident. After choosing the triggers, enter the values either as an amount or a percentage.
▫️Now, you’re all set! Click the Auto Copy button to confirm your settings and start copying the trader of your choice
💁🏼♀️ You may also be interested in:
How can I Autocopy?
What does “Fixed Amount per Trade” in the Autocopy amount mean?
What does “Amount Relative to the Leader” in the Autocopy amount mean?