Why should we set up profit and loss in speculation?

Everything has two sides, the same is true for investing in gold, and there is a risk of loss when there is a profit opportunity, and investors' ability to withstand risks is very limited.

Every investor has his own set of skills in trading, but setting profit and loss is a common feature of investors' success. Some investors do not yet understand why speculation in gold should set up profit and loss.

What does take profit mean?

Take profit, also known as stop profit, stop making money, the concept of take profit is to close as soon as you see it, without having to make the highest profit. Finding a good opportunity is the key to profitability. When an opportunity arises, it must be firmly grasped. If it is missed, let it be missed.

What does it mean to stop losses?

Stop loss is also called meat cutting. When the loss of gold investment reaches a predetermined amount, the position is cut out in time to avoid the formation of greater losses. The purpose is to limit the losses caused by investment mistakes to a smaller range.

Why set up profit and loss?

Sometimes the market volatility of gold is relatively large, and it is impossible for investors to pay attention to the disk all the time. Some markets may have relatively large fluctuations within a few minutes. Setting profit and loss can automatically help investors to grasp the market in a timely manner. transaction.

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In addition, the system's automatic speed is much faster than man-made operation, and the loss range is reduced to the risk-preserving strength that individuals may bear the risk, so as to avoid excessive loss range, or even loss of principal.

How to set profit and loss correctly?

Setting profit and loss is very simple, investors can set it at the moment of placing an order, or they can modify the order and reset it after the order is successfully placed.

Take profit or stop loss with support or pressure level, buy open position at support level, take profit and close position at pressure level, after buying, fall below the support level to stop loss, and vice versa, this is the most common stop loss and profit loss for investing in gold One of the methods.