A Stop Loss Order is an order to buy or sell when the price moves past a particular point. This helps to limit loss or lock in a profit. There are 3 types of Stop Order on TokenomyX as follows:
- Basic Stop Loss : Closes you out as near as possible to the price level you choose. A basic stop may be affected by ‘gapping’ overnight or in times of high volatility.
- Guaranteed Stop Loss : Closes you out at the level you requested, regardless of whether the market gaps. This will incur a small premium, but only if the stop is triggered.
- 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
A Take Profit Order is an order to buy or sell at your set price.