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What is the difference between closing, selling and taking profits ?

 
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simon.lafreniere09

What is the difference between closing, selling and taking profits ?

Hi,

What is the difference between closing, selling and taking profits ?

I'm in copper 3 and learning. I must as part of my assignements win two trades.
I got some with high pips generation so I'd like to take profits.
What do I do, close or sell ? (how's that actually done on the software )

Thanks

- Simon

Tue, 08/16/2016 - 9:58pm
 
kbeach01

Simon you can close your trades by clicking on the red X next to the order when you have an orders tab opened. If you have a pre-determined take profit that is set, it closes the trade at that price automatically. You can close and sell or buy (in the case of a short position) and take profit and you can just close and sell or buy without taking profits if you are in a losing trade. I hope this helps.

 
Valerie

Closing closes the trade. Selling puts you into a short trade. Taking profits is when you close a trade while in profit. Good luck.

 
matt lydon

Obviously, you're on the right track, if you have a profitable trade. Closing a trade ENDS the trade, wether profitable or not & is the easiest, quickest way to either take a profit OR take a loss.
Right again, the software "knows" which direction to close a trade, so you don't need to worry about "covering a short" or "selling when long"
If you look at your history file in ALVEO the close "TYPE" will be listed in the columns imediately to the right of CLOSE PRICE.
When YOU elect to close a trade, the TYPE CLOSE will display MARKET, when the trade hits a STOP, then STOP LOSS will be displayed, when the trade hits a profit target, TAKE PROFIT will be displayed.

When YOU close your profitable trade, MARKET will be displayed.

Hope this answers your question

Happy & profitable trading