Take Profit Order (T/P)
An order to close a position at a level better than the current market price, selling above the level that was bought or buying back below the level that was sold. It lets you capitalise on favourable moves without watching the market.
Related terms
Stop-Loss Order
An order to buy or sell once a currency or security reaches a specified price, designed to limit a trader’s loss on a position. The trade is processed only if the chosen rate is reached, capping downside without the need to monitor the market constantly.
Read full definitionOne Cancels the Other (OCO)
A combination of two orders, commonly a stop-loss and a take-profit, where the execution of one automatically cancels the other.
Read full definitionLimit Order
An instruction to buy or sell at a specific target price or better. Unlike a market order, which executes immediately at the current price, a limit order only triggers when the market reaches the predefined level, giving more control over execution.
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Aggressive
A description of traders and/or price action acting with conviction.
Read full definitionArbitrage
The simultaneous buying and selling of the same currency in different markets to profit from small price differences. The strategy exploits temporary inefficiencies in FX markets.
Read full definitionAt Best
An instruction given to a dealer to buy or sell at the best rate that can be obtained at a specific time.
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An instruction given to a dealer to buy or sell at a specific price or better.
Read full definitionBroker
A third party coordinating the sale of financial securities between sellers and buyers. Exchanges only accept orders from their members, so traders and investors use brokers as intermediaries; brokers are compensated through commissions, fees or payment from the exchange.
Read full definitionBulls
Traders who expect prices to rise and who may be holding long positions.
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