Question: Why should I place a Stop Loss (S/L) and Take Profit (T/P)?
Notice
This FAQ has ended its release period. Please check Trade360's latest information and campaign on Trade360's company introduction page.
Trade360 - What's now?
We are no longer promoting Trade360. The information regarding to Trade360 on the website 'Hercules.Finance' maybe outdated. ref. Trade360
Setting a Stop Loss protects you in case your open positions abruptly turn around and go against you.
As markets tend to be volatile, it is recommended always to set a Stop Loss when you open a new position.
Take Profit closes the position when it reaches a preset profit point.
Take Profit also helps in protecting a profitable position in case of a sudden turnaround.
Take Profit is particularly useful in case you are not in front of your computer when it is time to close the position.