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Take Profit and Stop Loss are two strategies that are always carried out by crypto traders with the aim of maximizing profits and minimizing risks.
Stop Loss is a strategy that limits losses by closing positions or selling automatically if the crypto price drops to the limit set by the trader. For example, if a trader buys one BTC at the current price of $82k, then the trader can set a stop loss of $80k as the loss limit.
Take Profit is a certain price that is set or the profit that will be obtained if the price reaches the desired profit target. So if a trader buys Btc at a price of $82k, then the one who can determine the take profit is $86k.
There are many ways to determine the amount of stop loss and take profit, both with technical analysis such as support and resistance levels, MA, RSI, MACB, BB etc., but there are also traders who use the risk reward ratio and percentage.
Stop Loss is a strategy that limits losses by closing positions or selling automatically if the crypto price drops to the limit set by the trader. For example, if a trader buys one BTC at the current price of $82k, then the trader can set a stop loss of $80k as the loss limit.
Take Profit is a certain price that is set or the profit that will be obtained if the price reaches the desired profit target. So if a trader buys Btc at a price of $82k, then the one who can determine the take profit is $86k.
There are many ways to determine the amount of stop loss and take profit, both with technical analysis such as support and resistance levels, MA, RSI, MACB, BB etc., but there are also traders who use the risk reward ratio and percentage.