Which would I use to automatically set a TP when an order is activated? For example I had a sell order activated and planned on closing it manually at 25 pips but was away from the screen at the time. Price bounced up and I was at least able to close at breakeven manually.
Should I use limit order or stop order to automatically set 25TP as soon as my buy order was activated?
Thank you.
All the platforms I have used offer a very obvious button for setting a stop-loss or TP at the same time as you set an entry order. You don’t normally need to open another order box and set an opposing order as a stop-loss or TP. Surely yours offers this too?
Always set a stop-loss. Where you put it is for another discussion. Setting a TP is a matter of greater choice.
Thank you but I don’t think that answers my question. The screenshot I attached is what I normally see when I initially set an order (This is on IG broker).
What I’m wondering is which of those 2 options at the bottom do I use to automatically have TP set once price hits my order in the case I wasn’t at my screen at the time.
It seems that TPs are only for trades that are opened manually. Click the ¨trade¨ button, and you’ll see ¨take profit¨. You may be able to use ¨limit order¨as TP, though. Try it out!
If you have doubts, call IG Support. The Call Center is more versed about the platform than anyone on babypips.
Thank you. I’ll try that out next time.
By the way, are you trading on your phone? Or was that just for the pic?
Pic was from my phone but iPad looks exactly same. I usually trade from my iPad; I don’t own a computer.
Occasionally I’ll use my phone if I’m not near my iPad.
