Bitcoin
BTC$70 171.16

-1.77%

Ethereum
ETH$3 546.10

-1.56%

Tether
USDT$1.000248

0.01%

Binance Coin
BNB$616.36

5.02%

Solana
SOL$189.14

0.16%

XRP
XRP$0.636919

2.07%

What Is Stop Loss and Take Profit?


January 2023

Stop-Loss is a pending order used by traders to minimize risks. When analyzing the market, traders may misinterpret the asset price movement and incur losses. To mitigate the amount of potential loss, a trader can set certain risk limits based upon the market situation. This saves you having to monitor charts for extended periods of time and can remove the emotional element when making key trading decisions. A Stop-Loss order also allows you to leave your screen to go and watch a movie with the knowledge your risk amount is capped.

Here is an example of how to place a Stop-Loss order:

Now you don’t have to worry about the asset’s price changes nor will you have to spend hours monitoring your charts. Your risks have been calculated and taken care of. For more successful trades, the Stop-Loss order is often used together with the Take Profit order, available in the next lesson. 

Take Profit is a pending order that automatically locks-in a trader’s profit

Let’s imagine you want to leave a trade open a for a few hours and cannot be constantly monitoring the price movement. In this case, you simply place a Take Profit order and rest assured whilst you head off to watch a movie.
Let’s imagine that whilst you are watching the movie the asset’s price moves in a favorable manner. A Take Profit order placed in advance will lock-in your gain by automatically closing your position, once the asset reaches a favorable rate, so you make a profit whilst you watch your movie.

Here is an example of how to place a Take Profit order:

Now you don’t have to worry about the asset’s price changes nor will you have to  spend hours monitoring your charts. When your target profit level has been reached, your trade will close automatically, and your earnings will be immediately deposited to your trading account. Enjoy the popcorn and watch that movie.

Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 76% 42 $70 171.16 -1.77% 11.72% $1 380 088 680 972 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 71.2% 50 $3 546.10 -1.56% 7.59% $425 782 312 228 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 94% 1 $1.000248 0.01% 0.04% $104 530 236 404 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 60% 80 $616.36 5.02% 13.18% $92 168 846 968 BNB 7 days price change
5 Solana (SOL) SOL Solana predictions 58.8% 88 $189.14 0.16% 12.08% $84 055 265 074 SOL 7 days price change
6 XRP (XRP) XRP XRP predictions 81.2% 28 $0.636919 2.07% 5.16% $34 956 800 668 XRP 7 days price change
7 USD Coin (USDC) USDC USD Coin predictions 94% 2 $1.000145 0.01% 0.02% $32 526 874 714 USDC 7 days price change
8 Dogecoin (DOGE) DOGE Dogecoin predictions 67.2% 66 $0.215397 -1.69% 47.30% $30 945 208 500 DOGE 7 days price change
9 Cardano (ADA) ADA Cardano predictions 65.6% 66 $0.665318 1.36% 9.67% $23 674 997 116 ADA 7 days price change
10 Avalanche (AVAX) AVAX Avalanche predictions 57.6% 87 $53.96 -1.54% 1.41% $20 367 154 316 AVAX 7 days price change
11 SHIBA INU (SHIB) SHIB SHIBA INU predictions 58.8% 94 $0.000031 -3.69% 18.78% $18 204 426 308 SHIB 7 days price change
12 Toncoin (TON) TON Toncoin predictions 58% 86 $5.13 1.21% 22.84% $17 789 214 110 TON 7 days price change
13 Polkadot (DOT) DOT Polkadot predictions 75.6% 49 $9.75 1.79% 10.88% $13 922 325 263 DOT 7 days price change
14 Bitcoin Cash (BCH) BCH Bitcoin Cash predictions 72.8% 57 $614.40 8.07% 54.65% $12 093 090 262 BCH 7 days price change
15 Chainlink (LINK) LINK Chainlink predictions 75.2% 42 $19.21 -0.90% 10.53% $11 280 482 429 LINK 7 days price change

Be the first to receive Cryptocurrency Price Predictions and Forecasts daily

Get cryptocurrency price predictions, forecasts with analysis and news right to your inbox.

© 2015-2024 Crypto-Rating.com

The usage of this website constitutes acceptance of the following legal information. Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website, including information about the cryptocurrencies and bitcoin is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Crypto Rating shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about cryptocurrencies. The entire responsibility for the contents rests with the authors. Reprint of the materials is available only with the permission of the editorial staff.