Now that you have traded on a Pip Price of USD 10 and bought EURUSD at 1.3094, you want to make sure you sell EURUSD again when the price goes up.
| 1. |
You decide to sell EURUSD at 13114 |
| 2. |
So, you click in the Max Exit field type in 13114 and press Enter. |
| 3. |
If the market goes up to 13114, you will make 20 pips profit at USD10 per pip, that's USD200! |
But, if you had sold EURUSD
| 1. |
You sell EURUSD at 1.3094. |
| 2. |
The buy price goes down to 13089. |
| 3. |
You enter 13084 to take your profit of 10 pips. |
| 4. |
Your trade is automatically closed at the limit you specified (13084). |
| 5. |
Your profit is 10 pips. |
Go to limit risk to see how to control your risk
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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