Stop Loss: is a function to help you manage and minimize your loss when the market movement goes against your position. There are 3 types of stop function on TokenomyX:
- Normal Stop Loss : Your position will be closed as near as possible to the price you choose. In times of high volatility, market ‘gapping’ might occur and trader could suffer higher losses due to market price suddenly moving further away from the stop price.
- Trailing Stop Loss : Moves with your position when the market moves in your favor, but locks in as soon as the market starts to move against you
- Guaranteed Stop Loss : Your position will close out exactly at the level you requested, regardless of whether the market ‘gapping’ happens. The traders will pay a small premium for this guarantee, but only if the stop is triggered.
- Take Profit : is a function to help you lock in your profit at a pre-determined price, measured by points away or profit from your original price level.