CoinProp uses "Take Profit" and "Stop Loss" mechanisms to automatically close positions opened by users. These mechanisms are explained below:
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Take Profit (TP): This feature allows you to set a target price at which your position will automatically close, securing your profits. Once the market price reaches this target, the trade is closed, and the profits are realized. This is particularly useful for locking in profits without having to monitor the market constantly.
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Stop Loss (SL): This feature helps you limit your potential losses by setting a price at which your position will automatically close. If the market moves against your position and reaches the stop loss price, the trade will close, minimizing your losses. This is crucial for managing risk and protecting your capital.
Adjusting Stop Loss & Take Profit
You can set or modify TP/SL levels on the CoinProp platform in three ways:
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When Placing an Order: In the order panel on the right, check the "TP/SL" box. Enter your desired prices in the "Take Profit" and "Stop Loss" fields before opening your position.
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From the Positions Panel: For an active trade, navigate to the "Positions" tab at the bottom of the screen. Here you can see columns for "STOP LOSS" and "TAKE PROFIT". Click the "Edit" button to modify the values for an existing position.
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Directly on the Chart: For an open position, you can click and drag the Take Profit (green) and Stop Loss (red) lines directly on the chart to adjust them to your desired price levels.
