Now that you have traded on a Pip Price of USD 10 and bought EURUSD at 1.3094, you want to protect yourself against the EURUSD falling in price too much.
| 1. |
You decide to sell EURUSD at 13084 and limit your risk. So, you click in the Min Exit field and enter 13084. |
| 2. |
If the market buy price goes down to 13084, your trade is automatically closed and you have limited your loss to just 10 pips. |
But, if you had sold EURUSD
| 1. |
You sell EURUSD at 1.3094. |
| 2. |
The buy price goes up to 1.3100. |
| 3. |
You enter 13104 to limit your potential loss to 10 pips. |
| 4. |
Your trade is automatically closed at the limit you specified (13104). |
| 5. |
Your loss is limited to 10 pips. |
Max Exit
You can use Max Exit to place an automatic order to sell a currency pair which you previously bought and take your profits. For example, if you bought EURUSD at 1.3050, just enter 13070 (to take profits of 30 pips) in the Max Exit field in the Open Trades tab to automatically take your profit if the price of this pair goes up as you expect. Likewise, you use Max Exit to buy a currency you previously sold and take your profits. For example, if you sold GBPUSD 19250, just enter 19200 (to take profits of 50 pips) in the Max Exit field in the Open Trades tab on Pip Trader to automatically take your profit if the price of this pair goes down as you expect.
Min Exit
You can use Min Exit to place an automatic order to sell a currency pair which you previously bought and limit your losses. For example, if you bought EURUSD at 1.3050, just enter 13070 (to limit your loss to 30 pips) in the Min Exit field in the Open Trades tab to automatically limit your loss if the price of this pair goes up. Likewise, you use Min Exit to buy a currency you previously sold and limit your loss. For example, if you sold GBPUSD 19250, just enter 19200 (to limit your loss to 50 pips) in the Min Exit field in the Open Trades tab on Pip Trader to automatically limit your loss if the price of this pair goes down.
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Pip Forex is owned by Simray Holdings LLC, a company regulated by Norwegian law.
Risk Warning:
Forex trading (also known as foreign exchange or currency trading) contains risk. However, your risk is strictly limited to how much you have in your account. As a rule, you should only trade forex with money that you can afford to live without. Some people will be successful in their forex trading and some will not. So, you should consider your trading options and your budget before you start trading.
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